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Bloomberg British Steel Ltd., one of the UK’s largest steel producers, said it’s in discussions with the government for extra funding to solve a cash crunch caused by Brexit. The money would be in addition to a 120 million pound loan ($156 million) granted by the government to cover the cost of meeting obligations under the European Union’s carbon trading ...

Bloomberg Russian President Vladimir Putin and US Secretary of State Michael Pompeo met on the shores of the Black Sea and said they are committed to improving ties between their nations. It won’t be easy. Putin’s 90-minute meeting with Pompeo in the resort city of Sochi represented an initial step towards addressing a wide range of disputes between the two ...

Dubai / Emirates Business A report from Bayut revealed that the off-plan developments near Dubai’s Expo 2020 site have been garnering a high amount of interest from investors. According to the searches conducted on Bayut, Dubai South, Meydan City, Mudon and Town Square are some of the areas that prospective buyers and tenants are most interested in. Besides the attractive ...

ABU DHABI / WAM The UAE and Saudi Arabia signed an authorised economic operator (AEO), agreement. The agreement aims to improve the customs cooperation between the two countries and facilitate trade, in implementation of the outcomes of the Al Azm Retreat, approved by the Saudi-Emirati Coordination Council. The agreement was signed in Riyadh by Ali Saeed Mattar Al Niyadi, Customs ...

Abu Dhabi / WAM The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), and the Korea Rural Development Administration (KRDA), on Tuesday, signed a Memorandum of Understanding (MoU), to strengthen cooperation in agricultural research and modern technology, for the agricultural sector in Abu Dhabi. The MoU aims at securing a sustainable foundation for future agricultural research in response to climate change, ...

Rabat / WAM The ‘His Highness Sheikh Mohamed bin Zayed Iftar Campaign 2019’ has launched in Morocco. Over 150 Moroccan charitable associations will take part in the campaign, to assist some 65,000 underprivileged families across the country. The campaign will be carried out in three phases across the Holy Month of Ramadan. The first phase will help over 30,000 families ...

Bloomberg Nissan Motor Co predicted annual operating profit below even the most pessimistic analyst’s estimate and cut its dividend for the first time in a decade, giving partner Renault SA a potential opening to push for greater control over their automaking alliance. Hurt by slumping US sales, aging vehicle models and an out-of-sync product cycle, the Japanese automaker issued an ...

Bloomberg As the US-China trade war escalates, speculation is swirling over whether the Asian nation will honour purchases of American products including soybeans and cotton that are yet to be delivered. At least 10 bulk carrier cargoes are in transit, while at least one vessel managed to offload its US cargo on the weekend as tensions between Washington and Beijing ...

Bloomberg Allianz SE’s giant investment business saw managed assets grow to a record as clients added 18 billion euros ($20 billion) in the first quarter, reversing outflows at the end of last year. The new money lifted the amount the company oversees for outside clients to 1.55 trillion euros, Munich-based Allianz said on Tuesday. The insurer owns US bond giant ...

Bloomberg Vodafone Group Plc’s dividend has cracked under the strain of falling revenue, soaring spectrum costs and a $21 billion acquisition, in a grim reality check for Europe’s struggling phone industry. The region’s biggest telecom carrier slashed its full-year dividend by 40% to 9 euro cents per share, reversing Chief Executive Officer Nick Read’s goal to keep the payout unchanged. ...