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Bloomberg European industry is in trouble and there’s a risk it will infect other parts of the economy, deepening the slowdown that’s already left the region fragile. Concern is growing in markets and even at the European Central Bank that the services sector won’t be able to withstand a broader manufacturing slump. That would undermine jobs growth and domestic demand, ...

Bloomberg South African President Cyril Ramaphosa has until June 21 to answer anti-graft ombudsman questions after being implicated in a probe into a donation his campaign received from a company linked to a bribes scandal. The rand fell. Ramaphosa received notification about the preliminary outcome of the investigation, which will be finalised once he has responded, Busisiwe Mkhwebane said in ...

Abu Dhabi / WAM Since the UAE and the Federal Republic of Germany established diplomatic relations in 1972, 47 years ago, the two countries have developed a strategic partnership built on cooperation and mutual respect that serves to consolidate stability in the region and promote international peace and security. Over the years, there have been numerous exchanges of visits between ...

ABU DHABI / WAM Self-service kiosks have been set up across all the ports included in the Tax Refunds for Tourists Scheme in order to allow tourists to recover Value Added Tax (VAT), when leaving the UAE. The kiosks are operated by Planet, the company enlisted by the Federal Tax Authority (FTA), to operate the system for the Tax Refunds ...

DUBAI / WAM More than 1.3 million passengers travelled through air, sea and land ports in Dubai during the Eid-al-Fitr holidays, according to General Directorate of Residency and Foreigners Affairs in Dubai (GDRFA). Similarly, the total number of entry and residence permits transactions during the break reached 253,000. A total of 1.75 million passengers passed through Dubai airports, while 113,000 ...

Dubai / WAM An initiative of the Dubai Future Foundation, AREA 2071 has hosted 20 global startups valued AED42.2 million to participate in two renowned global Accelerator Programmes. Maha Al Mezaina, Head of AREA 2071, reiterated the essential role played by emerging companies in shaping key future sectors, due to their capacity in coping with the rapidly changing global needs ...

Bloomberg Apple Inc has a backup plan if the US-China trade war gets out of hand. The Cupertino, California-based company’s primary manufacturing partner has enough capacity to make all iPhones bound for the US outside of China if necessary, according to a senior executive at Hon Hai Precision Industry Co. The Taiwanese contract manufacturer now makes most of the smartphones ...

Bloomberg India’s statistics may have been painting a far rosier picture of economic growth than the more modest reality of the past decade. The nation has held the crown of the world’s fastest-growing major economy until recently, but a new study by former Chief Economic Adviser Arvind Subramanian says the expansion was overestimated between 2011 and 2017. Rather than growing ...

Bloomberg Salesforce.com Inc., which makes America’s dominant sales-tracking software, agreed to buy Tableau Software Inc. in an all-stock deal valued at $15.3 billion that it said will help give customers more ways to analyse data. The acquisition of software maker will move Salesforce.com further away from its central business, marking a new era for the top seller of software for ...

Bloomberg Uber Technologies Inc. rival Bolt, formerly known as Taxify, has relaunched in London — nearly two years after its operating license was revoked by the city’s transit authority. The Estonian company, backed by Daimler AG and most recently valued at $1 billion, said it would compete in the UK capital by offering lower fares for riders, and by taking ...