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Huawei fight sees EU hit by crossfire in tech war’s key battle

Bloomberg The global tech war over Huawei Technologies Co. saw the European Union come under pressure from both the US and China as they fought over whether the company’s equipment should be banned from future 5G networks. “Chinese law requires them to provide Beijing’s vast security apparatus with access to any data that touches their networks or equipment,” US Vice ...

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Porsche warns UK buyers of 10% hard Brexit price hike

Bloomberg Porsche’s UK unit told customers they might have to pay as much as 10 percent more than expected if the country makes a hard Brexit and their imported car arrives after March 29. The information is precautionary and will allow customers to plan ahead for if the UK leaves the European Union at that date, Porsche said in an ...

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RAK Ruler opens new facility of Ginox Swiss

RAS AL KHAIMAH / WAM His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, on Saturday, inaugurated the new facility of Ginox Swiss, a world leader in the manufacturing of professional kitchens. The opening ceremony was attended by Jérôme Hofer, CEO of Ginox Swiss, senior officials and media. Sheikh Saud said the ...

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IDC highlights importance of education, 4IR tech, innovation

Abu Dhabi / Emirates Business The International Defence Conference (IDC) 2019, held under the patronage of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE and Supreme Commander of the Armed Forces, wrapped up on Saturday in Abu Dhabi. HE Mohammed bin Ahmad Al Bawardi, UAE Minister of State for Defence Affairs, kicked off the final day ...

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Customs World develops RIISE

DUBAI / WAM Customs World, a subsidiary of the Ports, Customs and Free Zone Corporation (PCFC), created a first of its kind platform based on the accumulative experiences of Dubai Customs. RIISE, the new platform, will be rolled out globally to empower different countries with a cost-effective and sustainable customs system that allows to effectively and transparently manage core customs ...

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DP World increases water supplies to Berbera, Somaliland

BERBERA / WAM DP World has launched a new water distribution centre increasing water supplies in Somaliland’s Berbera by 60%. The $1 million project started in 2018 and includes four water wells, two shallow pools, two water troughs, a concrete reservoir tank and seven kilometre pipeline connected to the main water supply. The project, powered by a hybrid solar system ...

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Trump, Xi hail progress in trade talks as tariff deadline nears

Bloomberg President Donald Trump hailed progress made in trade talks with China this week, saying he may extend a tariff truce and take steps to sell a potential deal with opposition lawmakers. Trump’s comments signal the two sides may be approaching a deal after two days of high-level talks in Beijing. The two countries said they are working towards an ...

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Rate-cut fervour sees funds favouring India’s short bonds

Bloomberg India’s shorter-maturity bonds are set to outperform as traders boost the odds the central bank may cut interest rates again as soon as its April meeting. That’s one of the reasons asset managers such as DHFL Pramerica Asset Managers Pvt. and HDFC Standard Life Insurance Co. favor the front-end of the yield curve. At the same time, escalating concern ...

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Amazon’s retreat heralds new era of corporate welfare fights

Bloomberg Just as New Yorkers were absorbing Amazon.com Inc.’s decision to abandon a new office hub after tangling over $3 billion in tax breaks, General Electric Co. was beating a retreat in Boston, canceling plans to build an office tower and promising to return $87 million in government incentives. In Wisconsin, Taiwanese manufacturer Foxconn was backing away from promises it ...

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Windstream in peril after losing court ruling on default to Aurelius

Bloomberg The fate of Windstream Holdings Inc. was cast into doubt after a court ruled that the rural phone company defaulted on its bonds in 2015 by spinning off Uniti Group Inc. Windstream shares fell as much as 43 percent in extended trading. The ruling in Manhattan federal court is a victory for New York hedge fund Aurelius Capital Management ...

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