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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 ...

Bloomberg Malfunctioning machines and hundreds of arrests for suspected vote buying are disrupting the Philippines’ midterm elections, with polling down to its final hour. Philippine President Rodrigo Duterte is poised for a majority win in both houses of Congress, even with slowing economic growth and controversial policies including a deadly drug war. Over 18,000 government positions are up for grabs ...

Abu Dhabi / WAM The UAE government has made, over the past several years, conscious efforts towards moving to a more sustainable future, setting its sights on delivering services that would rival the best in the world, and investing in significant performance improvements to ensure social welfare and economic well-being. The upward path of the UAE in world competitiveness testifies ...

GUANGZHOU / WAM Rahma Bin Abdulrahman Al Shamsi, UAE Consul-General in the Chinese city of Guangzhou, and Zheng Jianrong, Director-General of Department of Commerce of Guangdong Province, have discussed ways of joint cooperation in economic and trade fields. During the meeting, Zheng Jianrong briefed Al Shamsi on the latest developments and commercial developments in the province, highlighting the Chinese side’s ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc, Distribution), is planning to expand its facilities and investment services around the UAE, especially in Dubai, which currently serves only four stations, announced Saeed Mubarak Al Rashdi, Acting CEO of Adnoc Distribution. The company plans to increase the number of stations in Dubai over the next five years, by constructing ...