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Bloomberg Time is running out for 83-year-old Mahmoud Abbas. Foreign aid to the Palestinians has dropped nearly 80% over the past 10 years, the political outlook is bleak after a half-century of Israeli occupation and his people’s campaign for statehood risks sinking into irrelevance. To salvage his legacy, the Palestinian Authority (PA) president has called — again — for the ...

Abu Dhabi / WAM Abu Dhabi’s Supreme Petroleum Council (SPC), launched, on Monday, a new pricing mechanism for the Abu Dhabi National Oil Company’s (Adnoc), flagship onshore crude oil, Murban, and announced a significant increase in oil and gas reserves and new discoveries in the emirate of Abu Dhabi, at its meeting held at Adnoc’s headquarters. The SPC meeting was ...

Dubai / WAM The Sustainable City in Dubai revealed ‘Sanad Village’, the world’s first and largest rehabilitation and education centre for People of Determination (people with disabilities). Details about the Sanad Village will be announced during the Sustainable City’s participation in the AccessAbilities Expo, held from November 5-7 at the Dubai International Convention and Exhibition Centre. The AccessAbilities Expo aims ...

Dubai / WAM The joint venture between DP World and the France-based international container operator Terminal Link – PortSynergy Group (GMP), has been awarded the service concession for the construction and operation of berths 11 and 12 at Port 2000 in Le Havre, France. The terminals of Port 2000 in Le Havre are trade-enabling gateways for cargo entering the French ...

DUBAI / WAM The 4th edition of The Global Franchise Market, (TGFM), the official franchising event in Dubai, begins on Tuesday at the Dubai International Convention and Exhibition Centre. This annual premier franchise event, which is held under the patronage of Dubai Economy, aims to highlight Dubai’s preeminent status as a leading franchise destination and help facilitate new franchise opportunities ...

Bloomberg Angela Merkel’s visit to a revamped Volkswagen AG electric-car plant in Zwickau is a stark reminder of what’s at stake both for the German chancellor and VW boss Herbert Diess. Merkel — who critics say has long been soft on the auto industry — has come under fire for failing to make more progress in curbing greenhouse-gas emissions, while ...

Bloomberg European companies are upping the pressure on China to go beyond rhetoric at this year’s China International Import Expo, asking for “more tangible outcomes” than at the launch in 2018. “We expect this year’s event to be supplemented by concrete measures to facilitate further market opening and increase foreign investment, not by empty promises that we have heard many ...

Bloomberg UK construction extended its longest contraction since 2013 in October as domestic political turmoil and a weak economic backdrop weighed on demand. IHS Markit’s index of building activity rose to 44.2, from 43.3 in September, but remained below the 50 threshold that indicates expansion for a sixth month. Civil engineering led the drop, with residential home building also losing ...

Bloomberg US Commerce Secretary Wilbur Ross met with Chinese Premier Li Keqiang at a regional summit in Bangkok, a person familiar with the discussion said. The meeting came hours after Ross told a morning business forum that the US was “very far along” with “Phase One” of a trade deal with China. President Donald Trump told reporters at the White ...

Bloomberg China approved a drug to treat Alzheimer’s made by a Shanghai-based pharmaceutical company, the first new therapy endorsed for the disease in 17 years and a major breakthrough in the country’s push to become a leader in scientific research. The National Medical Products Administration said in a statement that it granted conditional approval to Oligomannate. In trials, the drug ...