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Bloomberg Allies of President Rodrigo Duterte are set to dominate the Philippine senate after a midterm election marred by technical glitches including a stalled vote count. Nine of Duterte’s favoured politicians are among leading senatorial candidates, based on ABS-CBN data with 93.6 percent of the votes reporting. The likely winners of the 12 Senate seats include his former aide Bong ...

DUBAI / WAM Dubai Chamber of Commerce and Industry has announced the formation of Car Dealers Business Group to unite the voices of member companies, serve common interests, and foster public-private sector dialogue on important matters impacting the auto sector in Dubai. The new business group will provide a platform for companies operating in this space to voice their concerns ...

Abu Dhabi / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation and Chairman of the Education and Human Resources Council (EHRC), presided over a meeting of the EHRC on Sunday in Abu Dhabi. During the meeting, Abdul Rahman bin Mohammad bin Nasser Al Owais, Minister of Health and Prevention, made a presentation ...

Sharjah / Emirates Business Panelists at the fifth Sharjah Economic Ramadan Majlis under the theme ‘The Contributions of Government Legislations to Attract FDI’, stressed that the UAE had an advanced and agile legislative system that kept abreast of the local and regional economic and technological changes. During the event held at Al Jawaher Reception and Convention Centre (JRCC), participants pointed ...

Abu Dhabi / WAM The UAE Space Agency and Exolaunch have announced a joint agreement to launch MeznSat into orbit by the end of this year. The agreement was signed during the Global Space Congress in Abu Dhabi. MeznSat was developed by students from the American University of Ras Al Khaimah (AURAK) and Khalifa University. The satellite will operate using ...

Bloomberg The collapse of Tata Steel Ltd’s planned joint venture with Thyssenkrupp AG has brought the Indian group’s more than $13 billion of debt in focus, with no immediate prospect of its European unit being hived off. The deal would have transferred some of the debt to the joint venture, allowing the Mumbai-based company to sharpen its focus on ramping ...

Bloomberg Nissan Motor Co is opposing renewed efforts by alliance partner Renault SA to merge under a holding company because such a structure won’t help turn the Japanese carmaker around, a person with knowledge of the discussions said. Talks have been ongoing since Renault Chairman Jean-Dominique Senard first made an informal proposal to Nissan Chief Executive Officer Hiroto Saikawa, the ...

Bloomberg Europe has a long way to go if it’s to deliver on the hope sparked by recent economic numbers. While there are hints that the bloc’s sharp deceleration is ending, there’s no escaping fresh doubts over global trade, ongoing weakness in German manufacturing, uncertainty over China’s growth, and Brexit. That’s got some of Europe’s big corporate names continuing to ...

Bloomberg Intel Corp. Chief Executive Officer Bob Swan gave new long-term forecasts that indicate the chipmaker’s growth will remain stalled. His comments, during his first investor event as CEO, sent shares down 2.5% at the close of trading in New York. Intel last month said sales will decline in 2019 and it reduced forecasts for profit and revenue in the ...

Bloomberg Walt Disney Co.’s quest to become a digital-streaming giant will be an expensive endeavour, but the company can handle it. That’s the message of its latest earnings report, which exceeded Wall Street estimates and sent the shares up as much as 2.4% in late trading. Though profit fell 13% in the fiscal second quarter, that was better than what ...