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Bloomberg BMW AG is betting an overhauled 5Series sedan and new X2 crossover will boost sales this year as the world’s second-biggest luxury carmaker works on its pledge to retake the global lead from Mercedes-Benz. Those models, plus an updated X3 utility vehicle, should carry BMW to gains in all markets, including the US and China, Chief Financial Officer Nicolas ...

Bloomberg The collapse of Carillion Plc with more than half a billion pounds of unfunded pension commitments may increase pressure on some of the nation’s biggest companies to plug their own funding gaps. The construction and services giant employs almost 20,000 people in Britain and has a pensions shortfall of 587 million pounds ($811 million). The government-backed Pension Protection Fund ...

Bloomberg Russia’s government is discussing a proposal to turn on the fiscal taps in what would be the biggest domestic spending spree since President Vladimir Putin last ran for re-election in 2012. Kremlin economic aide Andrey Belousov said expenditures on health, education and infrastructure could be raised by 1.5-2 percent of gross domestic product, the official Tass news agency reported ...

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, honoured the nine winners of the Zayed Future Energy Prize 2018, during an award ceremony held on Monday in Abu Dhabi, as part of Abu Dhabi Sustainability Week. The tenth edition of this key ...

Abu Dhabi / Emirates Business Abu Dhabi on Monday unveiled the world’s largest reserve of high quality desalinated water, secured in a network of 315 recovery wells lying up to 80 meters below the Liwa Desert. The wells are fed by one of UAE’s longest water pipeline networks which runs the water from Shuweihat desalination plant at a rate of ...

Dubai / WAM Coinciding with the designation of the year 2018 as the ‘Year of Zayed’, Dubai-based publisher Motivate Publishing has issued a new book, ‘Father of Our Nation’, containing collected quotations from the late Sheikh Zayed bin Sultan Al Nahyan, the UAE’s founding President. 2018 is the 100th anniversary of his birth. Illustrated with a selection of historic photographs ...

Abu Dhabi / WAM Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State and Chairman of the Abu Dhabi Future Energy Company, Masdar, welcomed Their Highnesses the Sheikhs, presidents, ministers and guests of the World Future Energy Summit, as part of Abu Dhabi Sustainability Week 2018, while praising the vision of the wise leadership and its support for the ...

Bloomberg Xiaomi Corp. selected Morgan Stanley and Goldman Sachs Group Inc. among international banks for its planned initial public offering, a person with direct knowledge of the matter said. Credit Suisse Group AG and Deutsche Bank AG have also been chosen to work on the IPO that could see the company target a valuation of as much as $100 billion, ...

Bloomberg China is escalating its clampdown on cryptocurrency trading, targeting online platforms and mobile apps that offer exchange-like services, according to people familiar with the matter. While authorities banned cryptocurrency exchanges in 2017, they’ve recently noted an uptick in activity on alternative venues. The government plans to block domestic access to homegrown and offshore platforms that enable centralised trading, the ...

Bloomberg Carillion Plc, a UK construction company with government contracts in everything from hospitals to the HS2 high-speed rail project, filed for compulsory liquidation after failing in a last-ditch effort to shore up finances and get a government bailout. The company employs 43,000 people worldwide, almost 20,000 of them in the UK, and has as much as $2.1 billion in ...