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Bloomberg President Donald Trump’s decision to impose tariffs on an additional $200 billion of imports from China drags the biggest part of the US economy into the thick of the trade war, threatening to deliver a more direct hit to growth. The 10 percent tariffs announced on Monday — which take effect from September 24 and will rise to 25 ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has decided to share, with the world, its efforts to shape the future and foresee its developments and challenges, by finding practical solutions that will improve the quality of peoples’ lives and match the level of social expectations. ...

Abu Dhabi / Emirates Business The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), as part of the Cruise Arabia delegation, is to attend SeaTrade Cruise Med, a high-level event which will take place from September 19-20 in Lisbon, Portugal. Abu Dhabi’s participation in this international event is just one in a series of initiatives aimed at ...

Abu Dhabi / Emirates Business Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, on Monday announced an initiative to launch a FinTech digital sandbox. The digital sandbox allows financial institutions (FIs) and FinTech innovators to come together to experiment on products and solutions in a digital platform environment, supported by regulatory standards developed by the Financial ...

DUBAI / WAM The Dubai Land Department (DLD), and the Dubai Creative Clusters Authority (DCCA), signed two Memoranda of Understanding (MoUs), in line with the interests of the two parties to structure and develop their relationship. The first MoU covers the integration of electronic systems and the exchange of both information and technical expertise, while the second revolves around the ...

Bloomberg Saudi Arabia brokered a new peace agreement between Ethiopia and Eritrea aimed at stabilising the Horn of Africa region, Foreign Minister Adel Al-Jubeir said. Ethiopian Prime Minister Abiy Ahmed and Eritrean President Isaias Afwerki signed the so-called Jeddah Peace Accord on Sunday in the presence of King Salman bin Abdulaziz and United Nations Secretary-General Antonio Guterres. It’s the second ...

Bloomberg KKR & Co. agreed to sell Singapore hard-drive component maker MMI Holdings Ltd. for about $645 million including debt, people with knowledge of the matter said, exiting the oldest Asian investment listed in its portfolio. KKR signed a deal to sell MMI, which it has owned for 11 years, to a Chinese buyout group led by an affiliate of ...

Bloomberg The cleanup from Typhoon Mangkhut began in Hong Kong and southern China on Monday after the storm left at least four dead in Guangdong province, damaged buildings and disrupted flights throughout the region. Mangkhut, the world’s most powerful storm this year, was blamed for more than 200 million yuan ($29.1 million) of damage in the southern province of Guangdong, ...

Bloomberg Mixed messages coming from the US on the trade war with China could sink prospective negotiations before they begin, damaging prospects for a resolution to the growing dispute. With President Donald Trump telling aides to proceed with additional tariffs on Chinese products, the Chinese government is considering declining the offer of talks, according to a Wall Street Journal report, ...

Bloomberg Fiat Chrysler Automobiles NV will evaluate other potential buyers for its Magneti Marelli parts unit because the carmaker views a bid made by KKR & Co. as too low, people familiar with the matter said. KKR offered less than the $7 billion minimum valuation sought by Fiat, which ended the exclusivity of the talks, said the people, who asked ...