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Bloomberg President Donald Trump offered US support for Saudi Arabia’s self-defense in a call with Saudi Crown Prince Mohammed Bin Salman, the White House said. The pair spoke after a swarm of explosive drones hit key oil-industry targets in Saudi Arabia. The state-run Saudi Press Agency earlier reported on the call. Iranian-backed Houthi rebels in Yemen claimed responsibility for the ...

Bloomberg The Indian government’s decision to launch a $1.4 billion fund to salvage stalled residential projects is unlikely to revive a sector that’s been the worst hit by the growth slowdown in Asia’s third-largest economy. As part of a broader plan to kick-start the economy, Finance Minister Nirmala Sitharaman announced the setting up of a 100 billion rupee fund to ...

Bloomberg China’s Uber-for-trucks startup Full Truck Alliance said it’s weighing an initial public offering after breaking even from May, defying a sector-wide downturn. The company, which is backed by SoftBank Group Corp and Tencent Holdings Ltd, said its improved financial performance dovetailed with its decision not to follow through on a plan to raise as much as $1 billion in ...

Bloomberg The United Auto Workers (UAW) let its contract with General Motors Co expire after unsuccessful talks over an extension, setting the stage for a strike by the union’s 46,000 US workers. The UAW said it will work without a contract while it decides on a course of action. It had been bargaining with the largest US automaker before a ...

Bloomberg Policies being hammered out in Germany to slash carbon emissions may cost 40 billion euros ($44 billion) over the next four years, underscoring the wide scope of Chancellor Angela Merkel’s plans to boost climate protection. Meeting in Berlin, party leaders from Merkel’s alliance progressed in agreeing steps to ensure that Germany meets a 2030 emissions target, according to a ...

Bloomberg California’s biggest wildfire of the year has already burned more than 50,000 acres of timber and grass as NASA scientists say climate change is making such blazes more likely and harder to stop. It’s a sobering scenario for the US state with the highest wildfire risk, where land damaged or destroyed by fire has expanded fivefold over the last ...

DUBAI / WAM A number of UAE business groups are set to invest $10 billion (AED36.7 billion) into Bangladesh, according to data compiled by the Bangladesh Economic Forum. The Forum will kick-off in Dubai on September 15, with more than 300 government officials, business leaders, investors and entrepreneurs participating. The one-day conference aims to strengthen the flow of trade and ...

Dubai / WAM After reviewing the results of comprehensive evaluation report of services in 600 service centers of 29 federal government entities, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, reaffirmed that “government services are windows for citizens to their governments. Improving and developing services will remain a major ...

GENEVA / ًِ’ The UAE has announced the completion of a draft law on the establishment of a national human rights institution (NHRI), following the Paris Principles. The announcement was made by Ahmed Abdul Rahman Al Jarman, Assistant Minister for Human Rights and International Law at the Ministry of Foreign Affairs and International Cooperation, in a speech delivered at the ...

Abu Dhabi / WAM More than 40 representatives from international defence manufacturing companies expressed interest in joining the Sustain and Enhance Emiratisation in Defence and Security (Seeds), programme, latest initiative of the UAE defence and security industry enabler Tawazun Economic Council. This came during a gathering hosted by Tawazun in London earlier this week, to acquaint its international defence partners with ...