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Bloomberg Forget about clinging to hopes that China, the world’s largest car market, will recover from its unprecedented two-year slump anytime soon. Expectations were already bleak as the year began, with IHS Markit predicting a 10% drop in first quarter production. Now, the influential research firm sees a scenario in which the coronavirus spreading rapidly across the country triggers a ...

Bloomberg The UK has left the European Union (EU) after almost half a century of membership, setting the stage for 11 months of potentially fraught talks that will determine whether the two sides can avert a chaotic divorce. There were no bongs from Big Ben to mark the moment of Britain’s departure from the bloc, but prime minister Boris Johnson ...

Bloomberg The US lifted sanctions against a unit of China’s biggest shipping company that was accused of hauling Iranian crude in violation of American restrictions. According to a notice posted on the Treasury Department’s website in Washington, sanctions were removed. In September, restrictions were placed on the Dalian units of China COSCO Shipping Corp, sending freight rates soaring as traders ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Wednesday inaugurated Al Wasl Plaza, the heart of the Expo 2020 Dubai site. Their ...

Abu Dhabi / WAM The UAE Financial Intelligence Unit (FIU) has announced the signing of a Memorandum of Understanding (MoU) with the Financial Investigation Department in the Kingdom of Bahrain and the Financial Information Centre in the Republic of Namibia, during the Egmont Group of Financial Intelligence Units meetings in Balaclava, Mauritius, on Wednesday. The MoU was signed by Ali ...

ABU DHABI / WAM Homegrown UAE aviation and aerospace products made and delivered across the world by Strata to some of the industry’s biggest players, including Boeing and Airbus, will now carry the UAE Nation Brand’s logo and ‘Make it Happen’ slogan. Strata and the UAE Nation Brand also announced that the logo and slogan will appear at several Strata ...

FUJAIRAH / WAM Oil product stocks in the Middle Eastern hub of Fujairah climbed to a five-week high, led by a surge in jet fuel and other middle distillate stocks, data released Wednesday by the Fujairah Oil Inventory Zone (FOIZ), showed. Total stocks rose 1.2 percent week on week to 21.561 million barrels, the highest since December 23, with middle ...

Bloomberg UK prime minister Boris Johnson risked a rift with president Donald Trump as he gave Huawei Technologies Co the green light to help develop Britain’s next-generation broadband networks. While the UK government announced it will keep what it calls high-risk vendors such as Huawei out of the most sensitive core parts of its 5G mobile networks, the company will ...

Bloomberg Apple Inc Chief Executive Officer (CEO) Tim Cook said the company has some suppliers in the Wuhan area of China impacted by the coronavirus outbreak, and is working with them to mitigate any production loss. Cook said the impact outside of Wuhan is less clear. He said that the factories are starting back up after the Lunar Holiday on ...

Bloomberg People across the globe are stockpiling facial masks to protect themselves from the new coronavirus, depleting online malls and store shelves from California to Beijing. Yet their efficacy against an outbreak that’s claimed more than 130 lives remains uncertain. On Amazon and Alibaba, many shops peddling anti-virus masks had run out of stock as of Wednesday. Across China, Hong ...