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Bloomberg The European business of coffee chain Starbucks Corp. paid an effective UK tax rate of 2.8 percent last year after a payment from another part of the company boosted profits, the Financial Times reported. The company paid $5.9 million in UK taxes on a profit of $213 million in the year ended October 2017, down from earnings of $219 ...

Abu Dhabi / WAM A new minister of the UAE government and two judges took the oath on Tuesday before His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. ...

Dubai / WAM Dubai’s non-oil foreign trade recorded AED645 billion in the first half of 2018, an increase of AED5 billion from 2017 figures. Dubai’s re-exports registered a AED24 billion increase and grew 14 percent to AED203 billion, which reflects the robust and healthy position Dubai leads as a distinctive regional and international re-export hub, while imports touched AED377 billion ...

ABU DHABI / WAM­­­­­ Maqta Gateway, an Abu Dhabi Ports subsidiary, and Abu Dhabi Global Market (ADGM), signed a Memorandum of Understanding (MoU) to collaborate on innovation projects, technologies and knowledge transfer. The signing took place on the side-lines of the FinTech Abu Dhabi 2018. The agreement aims to spur economic growth, creative thinking and entrepreneurism through setting up a ...

SHARJAH / WAM His Highness Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah and Chairman of the Sharjah Executive Council (SEC), chaired a meeting of the Council on Tuesday, at the Ruler’s Office in Sharjah, in the presence of His Highness Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah and ...

Bloomberg Russia warned angrily it may respond to “hostile” actions by Israel after one of its military reconnaissance planes was downed mistakenly by Syrian forces fighting off an attack by Israeli warplanes. The spike in tensions came a day after Russia called off a campaign against the last major opposition-held area in Syria, preventing for now an escalation in the ...

Bloomberg In a meeting that was unthinkable 19 months ago, South Korea’s president will this week introduce the head of the country’s biggest conglomerate to North Korean leader Kim Jong-un in Pyongyang. The parley caps a remarkable period for Lee Jae-yong, vice chairman of Samsung Electronics Co., who since the start of 2017 has been arrested, tried and jailed before ...

Bloomberg Renault SA, Nissan Motor Co. and Mitsubishi Motors Corp. are about to do what many carmakers have been trying to avoid: let Google into the dashboard. The French-Japanese auto alliance announced a technology partnership that will make its vehicles among the first to use Google’s Android operating system in the dashboard, letting Alphabet Inc.’s software control mapping and navigation, ...

Bloomberg One of the biggest legal battles in the technology industry may be entering its final stages. Qualcomm Inc. Chief Executive Officer Steve Mollenkopf said a bitter standoff between the chip maker and Apple Inc. is entering a period when both sides have an increasing incentive to settle. In coming months, the companies will be forced to make their case ...

Bloomberg Germany’s beleaguered car industry faces another regulatory tangle, as the European Union opened a probe into Volkswagen AG, Daimler AG and BMW AG over suspected collusion that could have delayed clean-emissions technology for cars. The investigation, which could lead to heavy fines, focusses on technical talks to develop selective catalytic reduction systems to reduce nitrogen-oxides emissions from diesel cars ...