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Nissan seeks $770mn from India for broken tax-break promise

Bloomberg Nissan Motor Co. is seeking compensation from India, saying the government failed to keep its end of the bargain on promised tax breaks after wooing the Japanese automaker to set up a factory in the South Asian country. The Yokohama-based carmaker has started international arbitration against the Indian government, a Nissan spokesman said. The company wants $770 million in ...

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Europe to award China ‘holy grail’ with tariff-rules revamp

Bloomberg European industries from steel to solar are bracing for a new set of tariff rules that may make it harder to fend off low-cost imports from China and other foreign countries. European Union governments were due on Monday to rubber-stamp the biggest revamp of the bloc’s method for calculating duties aimed at countering below-cost—or “dumped”—imports. The move is a ...

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Brexit brings UK lawyers to Ireland to retain EU practices

Bloomberg Lawyers are having their own Brexit. More than a thousand UK lawyers have registered in Ireland since 2016 to make sure they can represent clients in European Union courts after the UK leaves the bloc. Figures from the Law Society of Ireland show 511 attorneys from England and Wales have registered in Ireland this year, on top of 806 ...

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Car dealers dodge retail doomsday as Black Friday buoys sales

Bloomberg There’s an exception to the rule that Black Friday deals don’t drive traffic to brick-and-mortar stores anymore: car dealerships. Honda Motor Co. and Ford Motor Co. reported bigger US sales gains than expected for in November as big rebates and cut-rate financing offers lured buyers into showrooms. While total deliveries dropped for General Motors Co. and Fiat Chrysler Automobiles ...

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May fighting fires at home as EU’s Brexit deadline looms

Bloomberg UK Prime Minister Theresa May is battling to put out multiple political fires at home as she prepa- res for a crucial meeting in Brussels that she hopes will end the deadlock in Brexit talks. Euro-skeptics including members of May’s own Conservative party set out new “red lines” for the negotiations ahead of a lunch meeting she’ll have on ...

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46 ‘UAE Pioneers’ honoured

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, decorated forty-six Emirati philanthropists, led by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, as part of the UAE Pioneers Award, highlighting the remarkable ...

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UAE-Britain ties well-established

London / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, inaugurated the new UAE Embassy in London, United Kingdom, UK. The ceremony began with the raising of the UAE flag and was followed by the national anthems of both countries. Sheikh Abdullah bin Zayed and Alistair Burt, the UK’s Minister of State ...

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Masdar, Indonesian power firm sign deal

Abu Dhabi / WAM Masdar, Abu Dhabi Future Energy Company, and Indonesian power company PT Pembangkitan Jawa-Bali, PT PJB, a subsidiary of the state electricity company Perusahaan Listrik Negara (PLN), signed on Tuesday a project development agreement for the world’s largest floating solar photovoltaic (PV), power plant. With a capacity of 200 megawatt, the plant will cover an area of ...

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UAE celebrates 46 years of great achievements

Abu Dhabi / WAM The United Arab Emirates commemorates its 46th National Day on December 2, a day that embodies the very Spirit of the Union and inspires the nation to celebrate 46 years of great achievements since the federation of the seven emirates was established in 1971. The pattern of celebrating the country’s National Day was initiated by the ...

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SoftBank to seek Uber Tech stock at $48 billion valuation

Bloomberg SoftBank Group Corp. and a group of investors are trying to buy a stake in Uber Technologies Inc. at a sizable discount to the company’s $69 billion valuation, seeking to clinch what would be one of the largest purchases of stock in a private company. SoftBank and partners including investment firms Dragoneer Investment Group and General Atlantic are offering ...

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