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Bloomberg Alibaba Group Holding Ltd is moving ahead with plans to raise as much as $15 billion in a Hong Kong share sale, people with knowledge of the matter said, a major win for a city rocked by months of civil unrest. Asia’s largest company by market value is now preparing for a listing hearing as mandated by companies that ...

Bloomberg India’s electricity demand declined for the third straight month, another indication of an economic slowdown that seems to be deepening. Electricity demand from distribution utilities declined 13.2% in October from a year earlier, data from the Central Electricity Authority showed. The slump began in August when the power requirement dropped for the first time in more than two years. ...

Bloomberg The US Justice Department’s (DOJ) top antitrust enforcer said data collection practices of technology companies can raise competition concerns, the latest warning directed at the industry amid a broad investigation of its biggest companies. Makan Delrahim, the head of the antitrust division, said in a speech at Harvard Law School that the department is paying close attention to the ...

Bloomberg Lordstown Motors Corp, the electric-truck startup formed specifically to save a shuttered Ohio car factory, has acquired the highly politicised plant from General Motors Co. The acquisition that the two companies announced ends an era that began when GM opened the complex in 1966. The factory’s fate was largely sealed when the United Auto Workers union was unable to ...

Bloomberg President Donald Trump said trade talks with China are moving along “very nicely,” and said the leaders in Beijing wanted a deal “much more than I do.” Trump also described as “incorrect” reports about how much the US was ready to roll back tariffs on China. “If we don’t make that right deal, we’re not going to make a ...

Bloomberg Belarusian President Alexander Lukashenko is set to make his first bilateral visit to the European Union since it dropped sanctions against him in 2016, as he strives to balance growing pressure from Moscow for integration with Russia. Lukashenko, once dubbed “Europe’s last dictator” by the US, is due to meet Austrian President Alexander Van der Bellen in Vienna on ...

Abu Dhabi / WAM Thirty of the world’s leaders of the oil, gas and petrochemical industry chief will gather, in Abu Dhabi, on November 10, to discuss critical issues facing the energy sector in a world that needs more energy but demands fewer emissions. The senior executives have been invited to the 4th Abu Dhabi CEO Roundtable by Dr Sultan ...

Ras Al Khaimah / WAM Recognising the importance of creating a flourishing ecosystem and environment for Small and Medium-sized Enterprises (SMEs), Rakbank launched a digital community platform called SMEsouk to support small businesses. The platform’s core focus is to support SMEs by connecting them with complementary industries for a comprehensive suite of non-banking value-added services such as licensing, accounting, insurance, ...

Dubai / Emirates Business The Saudi Logistics Hub, a government initiative mandated to support the growth of the country’s logistics sector, held its first global roadshow in the UAE in collaboration with the National Association of Freight and Logistics (NAFL). Numerous business leaders from the logistics sector attended the event, held at the Dubai International Financial Centre (DIFC), and learned ...

HODEIDAH / WAM The UAE, represented by the Emirates Red Crescent (ERC), provided new supplies of medicines and laboratory equipment to three medical centres in Hodeidah Governorate, as part of its timely efforts to support the health sector in Yemen’s Red Sea Coast. The medical aid was delivered to the Al Matina Centre in At Tuhayta District, and the centres ...