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Bloomberg China pledged to invest $14.7 billion in South Africa and grant loans to its state power utility and logistics company as the two nations seek to strengthen economic ties and increase trade. The rand gained. The commitment follows similar promises from Saudi Arabia and the UAE and bolsters President Cyril Ramaphosa’s campaign to lure $100 billion in investment to ...

Bloomberg President Donald Trump said that the US and the European Union (EU) should eliminate all tariffs, barriers and subsidies, with the bloc’s trade chiefs set to present him with proposals in that direction in a crunch meeting at the White House. “I have an idea for them. Both the US and the EU drop all Tariffs, Barriers and Subsidies!” ...

Bloomberg Nike Inc. is raising the salaries of about 7,400 employees worldwide, following an internal review of the company’s pay structure. Starting next month, the athletic shoe giant is adjusting pay for 10 percent of its global workforce, across all job levels, Nike spokeswoman Ilana Finley said Monday in a statement. The changes are being made to ensure that Nike ...

Bloomberg US companies and industry groups are returning to Washington this week in an increasingly futile effort to get relief from President Donald Trump’s tariffs on Chinese imports. More than 80 witnesses are scheduled to testify during the two-day hearing on the $16 billion in Chinese goods targeted for 25 percent duties, which could be imposed after a comment period ...

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, has affirmed that the UAE, under the leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, supports every effort aimed at achieving peace, security and stability across the world. At an official ...

Abu Dhabi / WAM The UAE and Bahrain on Tuesday discussed ways of accelerating knowledge transfer and exchange of expertise between the two countries in areas of scientific research. This came during a meeting between His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, and Dr Sheikh Abdulla bin Ahmed Al Khalifa, Under-Secretary ...

DUBAI / Emirates Business Dubai Holding and Emaar Properties have announced the launch of Dubai Square, a new retail metropolis that pushes the boundaries of modern retail and leisure in Dubai Creek Harbour by drawing on next-generation technology. Blurring the boundaries of online and in-mall shopping, integrating indoor and outdoor, and delivering a social experience like none other, the all-new ...

Dubai / WAM The Government of Dubai Media Office (GDMO), represented by its creative arm, Brand Dubai, signed a Memorandum of Understanding (MoU), with the Roads and Transport Authority (RTA), to undertake beautification projects across the city over the next three years. Under the agreement, the two organisations will establish strategic cooperation to implement public art projects aimed at enhancing ...

Bloomberg North Korea has begun to dismantle a key rocket and engine-testing facility, according to an independent analysis of satellite imagery, a move that could bolster nuclear talks with the US amid signs of strain. North Korean authorities have in recent days started demolishing a building at the Sohae Satellite Launching Station where space-launch vehicles are assembled before launch, according ...

Bloomberg Protectionism is starting to weigh on the euro area’s economy. Growth in the region softened in July on weaker new orders and deteriorating confidence, according to a survey published on Tuesday. More worryingly, companies reported rising prices for raw materials, delivery delays and shortages, suggesting that tariffs — or the threat thereof — are already starting to disrupt global ...