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Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc), announced on Sunday that it has entered into a follow-on pipeline infrastructure investment agreement with the Abu Dhabi Retirement Pensions and Benefits Fund (ADRPBF). ADRPBF will invest AED1.1 billion ($300 million), following BlackRock and KKR who in February of this year signed the initial investment agreement to invest AED14.7 ...

Dubai / WAM The UAE is set to host the world’s foremost artificial intelligence summit to empower global dialogue on the future of government, business and society. The inaugural ‘Ai Everything’ will take place at the Dubai World Trade Centre (DWTC), between April 30 and May 1. Held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, ...

Bloomberg Reliance Communications Ltd denied it received favourable treatment by France in settling a tax dispute at a time when it was negotiating to become Dassault Aviation SA’s partner for a contract to sell fighter jets to India. The Indian company, owned by former billionaire Anil Ambani, issued the denial after Le Monde newspaper reported that four years ago France ...

Bloomberg India is witnessing a listless growth in electricity demand, possibly signalling more slowdown in Asia’s third-largest economy. Electricity requirement from distribution utilities in February rose 1.3 percent from a year earlier and barely changed from January’s 1.1 percent, the weakest growth in two years, according to the power ministry’s Central Electricity Authority. Data for power generation, a proxy for ...

Bloomberg Publicis Groupe SA agreed to buy digital marketing firm Epsilon from Alliance Data Systems Corp. for $4.4 billion in cash, propelling the French advertising group further beyond a weakening conventional ad business in its biggest takeover yet. Epsilon’s services span loyalty programs to email marketing and its Conversant unit collects consumer data including transactions, location and web activity. The ...

Bloomberg For all the ink spilled over climate change and the global energy transition, the world’s biggest energy companies are focusing on where it all began: American oil. Chevron Corp.’s $33 billion acquisition of Anadarko Petroleum Corp.will make the US company the largest producer in the dusty plains of the Permian Basin by giving it control of an oil-rich area ...

Bloomberg The year was 1989 and Mark Read, armed with degrees from top-tier academic institutions and an appetite for business, wrote an application to Martin Sorrell, the founder of a little-known advertising outfit snapping at the heels of the titans on Madison Avenue. The letter landed Read his first job at WPP Plc and in the next years, the soft-spoken ...

Bloomberg Sudan’s transitional military council announced an end to a curfew and a commitment to hand power to a civilian government within two years, signalling that pro-democracy protests are weakening the army’s grip in the oil-producing African nation. The moves followed the decision of Defense Minister Ahmed Awad Ibn Auf to stand down as the head of the council less ...

Dubai / Emirates Business The Ministry of Climate Change and Environment (MOCCAE) on Saturday launched the Fujairah Cultured Coral Reef Gardens, the largest project of its kind in the UAE, in collaboration with Fujairah Municipality, Dibba Fujairah Municipality and the Fujairah Adventures. In line with the Ministry’s strategy to protect the UAE’s biodiversity and ensure its sustainability, the project is ...

DUBAI / WAM The Roads and Transport Authority (RTA), has integrated a robot-operated vehicle registration plate maker in Dubai. The fully-automated machine can produce 33,000 plates per day. It applies the fourth industrial revolution (4IR), technologies and artificial intelligence applications to print registration plates without any human intervention. Soon, RTA will install ten similar machines at service provider centres and ...