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Adnoc L&S plans to add 25 vessels over next five years

ABU DHABI / WAM His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, a member of Abu Dhabi’s Executive Council and Supreme Petroleum Council and Chairman of the Abu Dhabi Department of Transport, was briefed on Adnoc Logistics and Services’ (Adnoc L&S) strategic growth plans, which will transform it into a global shipping champion, during a recent visit to ...

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Dubai International Boat Show begins next week

Dubai / WAM Dubai International Boat Show gets underway next week, welcoming no fewer than 450 yachts and boats from around the world to the Dubai Canal. Ranging from fishing boats and small leisure-craft, to 50-metre (164ft) superyachts, the Dubai International Boat Show will be home to all things “chic nautique”, and will once again be the Middle East’s premiere ...

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UAE’s F&B sector to record 8.3% growth over 2018-2021

Dubai / WAM Demand within the UAE’s food and beverage sector is expected to gain momentum over the next three years, supported by the country’s fast-growing population, rising number of tourists, and expanding halal food market, according to new analysis from Dubai Chamber of Commerce and Industry. The findings of the analysis were revealed during a briefing on the sidelines ...

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Putin says Russia to target US if missiles put in Europe

Bloomberg President Vladimir Putin signaled Russia will aim new weapons at the US if it stations missiles in Europe after quitting a landmark Cold-War-era treaty, amid growing fears of a new arms race. Still, the tone of Putin’s annual state-of-the-nation speech was less belligerent than a year ago, when he showed computer-graphics demonstrations of a series of new missiles and ...

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US seeking stable yuan as China trade talks progress

Bloomberg The US is asking China to keep the value of the yuan stable as part of trade negotiations between the world’s two largest economies, a move aimed at neutralising any effort by Beijing to devalue its currency to counter American tariffs, people familiar with the ongoing talks said. Officials from the two countries are discussing how to address currency ...

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Indian billionaire Anil Ambani ordered to pay Ericsson or face jail

Bloomberg India’s top court warned billionaire Anil Ambani he’ll be put behind bars unless his group pays its dues to Swedish supplier Ericsson AB, the latest twist in a dispute that helped push the tycoon’s mobile-phone carrier to file for bankruptcy. Ambani, 59, disobeyed an earlier Supreme Court order for his Reliance Communications Ltd. to pay 5.5 billion rupees ($77 ...

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Huawei controversy opens rift between US and global carriers

Bloomberg A group representing top US mobile service providers disagreed with European and Asian counterparts over alleged security threats from Chinese equipment maker Huawei Technologies Co. ahead of a conference that will highlight a US-Europe divide on the issue. A February 14 release from GSMA, a London-based wireless industry group, urged European lawmakers not to ban Huawei as a supplier. ...

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Glencore bends to pressure on climate change

Bloomberg One of the world’s biggest sellers of coal is yielding to investor pressure on climate change, the clearest sign yet that movement is sweeping the natural resources industry. Glencore Plc has promised to limit coal production and align the business with Paris climate targets. It’s a surprising about-face from a company that’s spoken glowingly of coal in the past ...

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Ford deals a blow to Bolsonaro with plan to shutter Brazil plant

Bloomberg Ford Motor Co. is shutting a factory in Brazil in an attempt to turn around its money-losing South American business, dealing a blow to Jair Bolsonaro less than two months into his presidency. The automaker expects to record $460 million in charges related to exiting the heavy-truck business in all of South America, according to a statement. It’s halting ...

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Mohamed meets delegations, defence ministers at Idex

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, met a number of delegations and defence ministers who are visiting the country to participate in Idex 2019 being organised at Adnec. His Highness Sheikh Mohamed bin Zayed met, separately, with Ibrahim Kasuri Fofana, ...

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