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Bloomberg Business owners — and their accountants — can rest a bit easier: the IRS has given them the long-anticipated final word on how they can claim one of the biggest perks in the 2017 Republican tax overhaul. The regulations detailing the new 20 percent deduction for pass-through business owners are of critical importance to the operators of such entities, ...

Bloomberg The battle between Tesla Inc and General Motors Co for the most valuable US carmaker is heating up. After Tesla followed in the footsteps of the legacy automakers and announced a plan to cut jobs, shares of the electric vehicle maker dropped as much as 10 percent in New York, bringing its market capitalisation to just $54.2 billion. GM, ...

Bloomberg Two electric scooter startups, fresh off raising hundreds of millions of dollars last year, are now raising hundreds of millions more, according to multiple people familiar with the details. But the latest hard-fought deal terms for Lime and Bird Rides Inc. both peg the companies’ worth at far less than the lofty valuations the startups once sought. New funding ...

GANDHINAGAR, India / WAM Narendra Modi, Prime Minister of the Republic of India, today met with Dr. Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, and Dr. Ahmed Al Banna, UAE Ambassador to India. They explored prospects for further cooperation between the UAE and India, building on the strong existing ties between the two countries, and discussed ...

Karachi / WAM The Sheikha Fatima Field Humanitarian Hospital has been opened in Karachi by Hamad Obeid Ibrahim Salim Al Zaabi, the UAE Ambassador to Pakistan, to provide therapeutic, diagnostic and preventive services to underprivileged segments of society, primarily women, children and elderly people, in Pakistan. Noura Al Suwaidi, Director of the General Women’s Union, said the facility, which provides ...

Bloomberg US President Donald Trump agreed to hold a second summit with North Korean leader Kim Jong-un at the end of February. What the two leaders hope to achieve remains a mystery. The summit announcement came after a 90-minute White House meeting between Trump and Kim Yong Chol, one of the North Korean leader’s top aides. They discussed “denucleariaation and ...

ABU DHABI / WAM The Federal Tax Authority (FTA), has outlined four conditions that would allow foreign businesses to recover Value Added Tax (VAT), incurred in the UAE in a new guide on “VAT Refunds for Business Visitors”, published on its official website. To be eligible for the VAT refund, the first condition is that foreign businesses must not have ...

ABU DHABI / WAM Abu Dhabi General Services Company (Musanada) has, in collaboration with the Abu Dhabi Department of Education and Knowledge (ADEK), completed the AED129 million C2 and C3 Mleih School project stretching over an area of 50,000 square metres, in the context of the Abu Dhabi Future Schools Programme, Phase VI, Package 1. Ali Al Haj Al Mehairbi, ...

Bloomberg China has offered to go on a six-year buying spree to ramp up imports from the US, in a move that would reconfigure the relationship between the world’s two largest economies, according to officials familiar with the negotiations. By increasing goods imports from the US by a combined value of more than $1 trillion over that period, China would ...

Bloomberg Alibaba Group Holding Ltd is cutting its spending on travel and postponing some new hiring as China’s largest e-commerce company braces for a slowing economy, people familiar with the matter said. Some new hires were told they can’t start until the new fiscal year begins in April, the people said, asking not to be named because the matter is ...