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Bloomberg One of Germany’s most storied industrial icons just became more Chinese. Daimler AG’s Chinese partner, state-backed Beijing Automotive Group Co (BAIC), is buying a 5 percent stake in the Mercedes-Benz maker, cementing a more than decade-long alliance of the auto manufacturers. Together with Daimler’s top shareholder — Zhejiang Geely Holding Group Co’s billionaire owner Li Shufu — the transaction ...

Bloomberg Huawei Technologies Co quickened revenue growth to roughly 30 percent in the first half after select teams secured critical supplies to keep production going despite US technology export restrictions, people familiar with the matter said. Two months into a Trump-administration ban that cut Huawei off from American suppliers, China’s largest technology company is starting to feel the pinch. Still, ...

Bloomberg Facebook Inc and Amazon.com Inc set records for lobbying in the second quarter as Washington ramped up scrutiny of big technology companies, while Google’s spending dipped as it continued to reshuffle its influence operations. The world’s largest social media site spent more than $4.1 million on lobbying, the most among big internet platforms, an increase from its previous high ...

Bloomberg Standard Life Assurance Ltd. was fined 30.8 million pounds ($38 million) by UK regulators over how it handled sales of some pension products. The Financial Conduct Authority (FCA) said that Standard Life, part of Phoenix Group Holdings Plc, offered employees “large financial incentives to sell annuities, which encouraged them to place their own financial interests ahead of their customers.” ...

Bloomberg A union at AT&T Inc is accusing the company of reneging on a labour agreement that helped gain the support of worker groups for last year’s $85 billion takeover of Time Warner. As part of a deal renewed in 2017, the Communications Workers of America pledged to support expansion efforts by AT&T and the company agreed to terms for ...

Bloomberg President Donald Trump offered to help resolve India and Pakistan’s long-running conflict over the territory of Kashmir — citing an invitation from Narendra Modi that the Indian prime minister’s government later denied. “If you would want me to mediate or arbitrate, I would be willing to do that,” Trump told Pakistan’s prime minister, Imran Khan, at a White House ...

BEIJING / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Xi Jinping, President of the People’s Republic of China, held formal talks on strengthening bilateral comprehensive strategic partnership as well as a nu-mber of regional and internati- onal issues of mutual interest. At the ...

DUBAI / WAM The Dubai Financial Services Authority (DFSA) said that it is now a member of the Central Banks and Supervisors Network for Greening the Financial System (NGFS), becoming one of the first regulatory authorities in Middle East and North Africa region to join the NGFS. The NGFS is a group of Central Banks and Supervisors willing, on a ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB) has been named ‘World’s Best Bank for Transformation’ at the Euromoney Awards for Excellence 2019, at the recent ceremony in London. This year’s awards demonstrated growing importance of UAE’s banks to global finance sector. FAB was given the award for best bank transformation after successfully merging, integrating, and enhancing its services ...

ABU DHABI / WAM Following its appointment by the Government of Abu Dhabi to deliver AED5 billion worth of landmark projects in the Emirate, Aldar Properties PJSC, Aldar, announced on Monday further details on the expected commercial and socio-economic impacts of those projects. The three projects reaffirm Aldar’s status as the partner of choice for the Abu Dhabi Government. The ...