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Bloomberg Lloyds Banking Group Plc suspended its share buyback after a last-minute rush of compensation claims for mis-sold payment protection insurance, taking its total costs for the scandal to 21.8 billion pounds ($26.7 billion). Lloyds shares fell as much as 2.5 percent in London. The bank is making a further provision of between 1.2 billion pounds and 1.8 billion pounds ...

DUBAI / WAM Smart Dubai revealed that its flagship data platform, Dubai Pulse, the backbone of the emirate’s smart transformation, has made a significant leap in terms of international appetite for the data it publishes, registering 1.5 million visits as of August 2019. A closer look at the visitor activity on the platform revealed a particular interest in the Roads ...

Dubai / WAM Dubai will host the prestigious International Council of Marine Industry Associations (ICOMIA), World Marina Conference 2020 in autumn, bringing the international event to the Middle East for the very first time. By winning the bid, the UAE Marine community has reaffirmed the country’s position as the most vibrant market for the marinas industry in the Middle East, ...

ABU DHABI / WAM Under the patronage of HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs and Chairman of the Board of Directors at Abu Dhabi Fund for Development, HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, on Monday announced the launch of the Abu Dhabi Exports ...

Abu Dhabi / WAM The World Energy Council (WEC) Co-Chair Jean-Marie Dauger has said that there is no ‘one size fits all’ solution to the global energy transition. During the 24th World Energy Congress in Abu Dhabi, Dauger told the Emirates News Agency (WAM), that the pace of change in the industry is accelerating quite dramatically. “We know there are number ...

Abu Dhabi / WAM The Integrated Transport Center in the Emirate of Abu Dhabi has launched in cooperation with Emirates Integrated Telecommunications Company (du), a free Wi-Fi service project on public transport buses in the emirate. This project was launched during a media tour with the participation of a number of media representatives to experience the first bus in Abu ...

Bloomberg Oil kept up its push higher after Saudi Arabia’s new energy minister signaled that Opec and its allies would continue with output cuts as the group prepared to gather in Abu Dhabi. Futures in New York added as much as 2.9% after newly-appointed Saudi Energy Minister Prince Abdulaziz bin Salman said there won’t be radical change in the policy ...

Bloomberg Volkswagen AG is unwrapping not just new models at the Frankfurt car show, but also a tweaked logo as the world’s biggest carmaker ushers in the electric era. Little-changed since World War II, the new VW emblem will be uncovered atop its headquarters in Wolfsburg on Monday. Then later in Frankfurt, the manufacturer will unveil the VW brand’s electric-powered ...

Bloomberg Apple Inc and manufacturing partner Foxconn violated a Chinese labor rule by using too many temporary staff in the world’s largest iPhone factory, the companies confirmed following a report that also alleged harsh working conditions. The claims came from China Labor Watch (CLW), which issued the report ahead of an Apple event on Tuesday to announce new iPhones. The ...

Bloomberg The UK economy grew at its fastest pace in six months in July, an unexpectedly strong performance that will allay fears Britain is facing a possible pre-Brexit recession. The economy recorded growth across the board, with the dominant services sector enjoying its best month this year. All else being equal, it will expand 0.4 percent in the third quarter ...