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Bloomberg Porsche SE’s board was ordered by a German court to answer critical shareholder questions about what management at Volkswagen AG and the carmaker’s majority investor knew about the diesel scandal and whether any evidence was destroyed. The holding company’s board must answer five questions originally asked at its 2016 annual shareholders meeting, a Stuttgart court said in two rulings ...

Bloomberg President Donald Trump has handed European allies an ultimatum to revamp the nuclear deal with Iran, something they have no intention of doing, posing a potential new conflict with other world leaders. “This is a last chance,” Trump vowed in a statement announcing that he’d waived economic sanctions tied to the 2015 accord a final time: “No one should ...

Abu Dhabi / WAM The Zayed Future Energy Prize has officially set a Guinness World Record title for the ‘Largest Environmental Sustainability Lesson’, it was announced on Wednesday. A total of 282 students from across the UAE took part in the sustainability-themed lesson at the Ritz-Carlton Abu Dhabi, presented by Illac Angelo Diaz, Executive Director of Liter of Light, the ...

Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of Dubai Executive Council, and Chairman of the Dubai Sports Council, on Wednesday honoured the winners of the 9th Mohammed bin Rashid Al Maktoum Creative Sports Award at a ceremony at the Dubai World Trade Centre (DWTC). The Award is an entity ...

DUBAI / WAM Diversification and the high degree of openness in Dubai along with the positive impact of global trends will boost economic growth in the emirate in 2018 and beyond by 3.5%, according to the Dubai Economic Outlook report released on the sidelines of the UAE Economic Outlook forum, which concluded in Abu Dhabi on Wednesday. The report said ...

Dubai / WAM Emirates SkyCargo, the freight division of Emirates, completed a year of strong growth in 2017. The air cargo carrier’s robust performance was underlined by the introduction of specialised customer focused air transportation solutions across a number of industry verticals and by continued investment in infrastructure. Between January and December 2017, Emirates SkyCargo’s hubs at Dubai International Airport ...

Bloomberg The world’s largest automotive alliance will invest as much as $1 billion to fund mobility startups over the next five years as it looks to make inroads with new technology at a time of rapid upheaval for the transportation sector. Carmaking partners Renault SA, Nissan Motor Co. and Mitsubishi Motors Corp. will invest as much as $200 million during ...

Bloomberg Indian PM Narendra Modi eased restrictions on foreign direct investment (FDI) across several sectors, including allowing overseas airlines to invest in state carrier Air India Ltd., in a bid to revive growth in Asia’s third largest economy. Foreign carriers can buy up to 49 percent in the loss-making national airline, the government said in a statement. In a move ...

Bloomberg The UK economy will be paying the price for years to come if Prime Minister Theresa May fails to secure a Brexit agreement with European Union leaders. Leaving the bloc in March 2019 with no deal in place could result in a 6.5 percent hit to GDP by 2030, according to research published by Bloomberg Economics analysts Dan Hanson ...

Bloomberg UK manufacturers posted a seventh consecutive month of expansion in November as sectors from food producers to makers of games and sports equipment increased output. Factory output rose 0.4 percent from October, the Office for National Statistics said. Overall industrial production also increased 0.4 percent, with a drop in temperatures boosting demand for energy. Separate figures show construction output ...