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Bloomberg Prime Minister Boris Johnson might be about to go after Britain’s “staggeringly rich.” There’s no full-scale attack of wealth coming, but the country’s myriad tax breaks — some of which mainly benefit the rich — could be targeted in next week’s budget by a government that needs every penny to fund the biggest spending spree in years. Local media ...

Bloomberg The Trump administration granted exemptions from tariffs for a range of medical products imported from China, including face masks and medical gloves. Among the products that won an exemption are medical masks by Medegen Medical Products, LLC., Cardinal Health exam gloves, and Medline Industries Inc.’s patient cleansing wipes. In its request to exclude masks from the 7.5% duty, Medegen ...

Bloomberg Elon Musk’s comments about taking Tesla Inc. private were “aspirational,” not fraudulent, the company argues in asking a judge to throw out a shareholder lawsuit over his infamous tweet from 1 1/2 years ago. Investors claim the Twitter post on August 7, 2018 — “Am considering taking Tesla private at $420. Funding secured” — was an intentional deception that ...

ABU DHABI / WAM The United Arab Emirates has coordinated the evacuation of Arab nationals from Wuhan City in China. The evacuees were received at the newly established Emirates Humanitarian City in the UAE, and will undergo medical testing and monitoring to ensure their health and safety. The move follows the directives of President His Highness Sheikh Khalifa bin Zayed ...

ABU DHABI / WAM A senior delegation from the Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) the world’s first graduate-level, research-based artificial intelligence university, discussed potential collaboration opportunities with Egypt’s educational institutions during a recent visit to the country. The visit — organised by Egypt’s Ministry of Higher Education and Scientific Research and the UAE Embassy in Cairo — ...

CAIRO / WAM Enoc Misr, a joint venture between Proserv Group and the UAE’s Emirates National Oil Company (Enoc) signed a Memorandum of Understanding (MoU) with local lubricant manufacturers to evaluate blending and manufacturing Enoc lubricants in Egypt. The move comes as part of Enoc Misr’s plans to maximise operational efficiency and ensure product availability in the local market. The ...

DUBAI / WAM The French Pavilion, located in the Mobility District, is rapidly shaping up, and is on track for a handover in September, in time for Expo 2020 Dubai. The organisers of the upcoming World Expo welcomed Erik Linquier, General Commissioner; Philippe Mille, Pavilion Director; and Architects, Bernard Mauplot from Atelier du Prado and Jacob Celnikier from Celnikier & ...

Bloomberg Hours after Donald Trump spoke by phone with a top leader of the Taliban about peace in Afghanistan, the US conducted an airstrike against the militant group while it was attacking Afghan forces in Helmand province. US military spokesman Sonny Leggett confirmed the airstrikes on Twitter, calling on the Taliban to stop “needless” attacks. “To be clear — we ...

Bloomberg US health regulators are watching for potential drug shortages after India restricted the export of some raw pharmaceutical ingredients, a move that could disrupt the industry’s globe-spanning supply chain. India said it would limit export of some common medicines as concerns grow over shortages of chemical ingredients. Many manufacturers of those ingredients in China are shut or making less ...

Bloomberg While infections in the rest of the world accelerate, the coronavirus epidemic is showing signs of easing at its center — China — with new cases slowing dramatically and recoveries gathering pace. Still, doubt remains over whether the government’s statistics show the full picture. On March 3, China reported 119 new confirmed cases of the coronavirus, the lowest number ...