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Mercedes plans more drone deliveries

Bloomberg Mercedes-Benz, conducting the biggest test using drones to ship everyday items like ground coffee and cellphones, said the mini aircraft completed 100 drop-offs to strategically placed vans in Zurich with a perfect safety record and more deliveries are planned for next year. About 50 individual customers placed orders with Swiss online shopping platform Siroop, choosing “airmail deals” from selected ...

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Hillary Clinton hits out at Trump, Xi at Beijing event

Bloomberg Hillary Clinton hit out at both US President Donald Trump and Chinese leader Xi Jinping in remarks via video to a conference in Beijing. Clinton, a former secretary of state, said the Trump administration had retreated from diplomacy. She called on both the US and China to avoid “bluster” or “personal taunts” in dealing with North Korea, and said ...

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ADNOC to invest $109bn to spur growth

ABU DHABI / WAM The Supreme Petroleum Council (SPC) presided over by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and Vice-Chairman of the SPC, on Monday approved ADNOC’s key strategic investments programme and future opportunities, as the oil and gas company expands its 2030 strategy, ...

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VP chairs Cabinet meet at Louvre Abu Dhabi on National Day eve

Abu Dhabi / WAM The UAE Cabinet, presided over by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, held an extraordinary meeting at Louvre Abu Dhabi, in conjunction with the UAE 46th National Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum congratulated the UAE and its people on the ...

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ADGM, ADNIC join hands to enhance fintech ecosystem

Abu Dhabi / WAM Abu Dhabi Global Market (ADGM), has marked a new partnership with Abu Dhabi National Insurance Company (ADNIC), to seek opportunities to collaborate and consult on initiatives to promote the growth and development of the insurance-related FinTech ecosystem in Abu Dhabi and the UAE. The MoU was signed by Ahmad Idris, Chief Executive Officer at ADNIC, and ...

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Islamic finance assets to surge to $3.8trn

Dubai / Emirates Business The Dubai Islamic Economy Development Centre (DIEDC) on Monday published the outcomes of the State of the Global Islamic Economy Report 2017-2018 titled ‘Outpacing the Mainstream’. The report is issued annually by DIEDC in collaboration with Thomson Reuters. The findings were released on the sidelines of the fifth edition of the Islamic Economy Award, held under ...

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China’s Tencent wants to follow Facebook advertising

Bloomberg Tencent Holdings Ltd.’s rise into a $500 billion company was fuelled by a culture of internal competition, where teams raced against each other to make ideas work. To become an advertising powerhouse like Facebook Inc., the internal barriers are starting to come down. The seven main business units of China’s largest company are working to synchronise data and study ...

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Hong Kong housing market shows no signs of cooling

Bloomberg Hong Kong’s red-hot housing market shows no signs of cooling anytime soon. Prices in the city have climbed 11 percent this year, defying skeptics waiting for the bubble to burst and government attempts to rein in the world’s most expensive housing market through a raft of taxes and mortgage curbs. If anything, the frenzy has intensified in recent months ...

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UK to mitigate Brexit effect with industrial strategy

Bloomberg Business Secretary Greg Clark said reviving Britain’s flagging productivity lies at the heart of the industrial strategy he was expected to unveil it on Monday to help chart the future of Britain’s economy as the country leaves the EU. While Britain would pursue the strategy “regardless” of Brexit, the plan will take the sting out of the uncertainty sparked ...

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Meredith agrees to buy Time Inc for $2.8bn

Bloomberg Meredith Corp. agreed to acquire Time Inc. for $2.8 billion including debt, swallowing the once-mighty home of Fortune and Sports Illustrated after the internet age wreaked havoc on even the most prestigious magazine titles. The $18.50-a-share offer is an all-cash one, Meredith said in a statement. The deal gives Meredith, publisher of Better Homes & Gardens, a larger audience ...

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