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Bloomberg The US and China are moving closer to agreeing on the amount of tariffs that would be rolled back in a phase-one trade deal despite tensions over Hong Kong and Xinjiang, people familiar with the talks said. The people, who asked not to be identified, said that US President Donald Trump’s comments downplaying the urgency of a deal shouldn’t ...

Bloomberg Indian Prime Minister Narendra Modi’s government is considering easing lending rules for shadow banks, according to people familiar with the matter, a move that would give the cash-starved financiers access to funds. Modi’s cabinet is likely to discuss allowing state banks to provide so-called credit enhancement against securities rated BBB+ to non bank financiers, the people said, asking not ...

Bloomberg The use of ride-hailing apps is declining in China as operators scale back incentives for drivers, contributing to the slowdown in car sales in the world’s biggest auto market, according to a Sanford C Bernstein report. Total daily active usage across ride-hailing apps in the third quarter fell 6.3% from a year earlier, marking a fifth consecutive quarterly drop, ...

Bloomberg Indonesia is touting an abundance of low-cost renewable energy to lure billions of dollars in investment Southeast Asia’s largest economy needs to build processing plants for commodities such as nickel, copper and aluminum. The commodity powerhouse has potential to develop 33,000 megawatts of hydro power and 29,000 megawatts of geothermal energy at costs as low as 2-4 cents per ...

Bloomberg For some money managers, closing a $100 million fund would be akin to reeling in a big fish. For Rob Kaplan, it’s just the bait. Kaplan, a former Walmart Inc executive, plans to invest the $106 million he’s raised from some of the world’s biggest plastics makers in companies that promise to prevent trash from ending up in the ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and Sheikhs, attended on Tuesday the ‘March of the Union’ as part of the Sheikh Zayed Heritage Festival 2019 in Al Wathba, Abu Dhabi, on the occasion of the 48th National Day. The march, ...

Dubai / Emirates Business Held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the 12th edition of the Arab Strategy Forum will begin in Dubai on December 9 at Ritz Carlton DIFC, with former US Vice President Dick Cheney, and former Foreign Minister of ...

New Delhi / WAM In a gesture to mark the UAE’s 48th National Day, the Indian government has issued a special postal cover with images of Sheikh Zayed bin Sultan Al Nahyan and Mahatma Gandhi with streaming replicas of the national flags of their respective countries under those images. The postal cover also has a special postmark with the legend ...

Sharjah / Emirates Business The Sharjah FDI Office (Invest in Sharjah), an affiliate of the Sharjah Investment and Development Authority (Shurooq) organised a Sharjah – Europe Business Roundtable, at the Sharjah Chamber of Commerce and Industry, to explore interests with six European business councils based in the UAE, and to introduce emerging prospects in a variety of sectors attractive to ...

PARIS / WAM The UAE pledged to donate AED184 million ($50 million) of development support, in addition to a previous amount of AED184 million ($50 million) allocated this year by the Abu Dhabi Fund for Development (ADFD), to support development projects in the Comoros. The UAE made this announcement during its participation in the “Donors’ Conference in Support of the ...