Mohamed, Korean president fostering ties

Seoul / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President Moon Jae-in of South Korea, on Wednesday explored the strategic cooperation relations between the two countries, prospects for developing them to serve their mutual interests, as well as regional and international issues of ...

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Arab Parliament hails UAE’s support for Yemeni people

CAIRO / WAM Speaker of Arab Parliament, Dr Mishaal bin Fahm Al-Salami has praised the valuable aid provided by the UAE, Saudi Arabia, and Kuwait to support Yemenis at the Pledging Conference on Yemen held in Geneva, Switzerland. The aid has been announced to achieve the urgent humanitarian response, relief and alleviation of the sufferings of the Yemeni people. In ...

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UAE-South Korea ink slew of deals, MoUs

Seoul / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President Moon Jae-in of South Korea, on Wednesday attended the signing of a number of agreements and Memoranda of Understanding between the UAE and the Republic of Korea at the Blue House in Seoul. ...

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Gulf Craft reveals its strategic vision with six global premieres

Dubai / Emirates Business Gulf Craft, the Emirates pioneer builder of luxury yachts and leisure boats arrives at the 27th edition of the Dubai International Boat Show with a fleet of 12 vessels. The triple-deck Majesty 140, the biggest superyacht in Gulf Craft’s collection for this year’s show is a masterpiece that will capture all the attention. The award-winning Majesty ...

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Abu Dhabi attracts 10mn visitors in ’18

Abu Dhabi / WAM Abu Dhabi has welcomed 10.27 million international visitors in 2018, with the emirate also posting figures showing incredible growth over the last three years, powered by the addition of a host of world-class events and enhancements to all of its specialised tourism sectors, massive improvements to its infrastructure, and significant development of its cultural assets. The ...

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China-backed trade pact faces fresh hurdles amid Bali talks

Bloomberg A bid to kick-start a China-backed trade pact that would cover a third of the global economy is facing a fresh hurdle as upcoming elections across Asia and the Pacific threaten to stall progress on reaching a deal. With fallout from trade ructions between US and China endangering global growth, the Regional Comprehensive Economic Partnership (RCEP), is seen as ...

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Hyundai plans $40bn in spending as car industry transforms

Bloomberg Hyundai Motor Co. joined automakers pledging massive spending in the years ahead to address the industry’s transformation and fend off new competition from the likes of Tesla Inc. The South Korean maker of Sonata sedans and Tucson SUVs plans to invest 45.3 trillion won ($40 billion) in the next five years in development of new models and technologies for ...

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Hong Kong cuts budget handouts with slowing economy in view

Bloomberg Hong Kong’s economic growth is forecast to slow this year as the city grapples with weaker property values and the fallout from US-China trade tensions, leading to a more modest range of budget handouts than last year. The economy will grow by 2 percent to 3 percent, Hong Kong Financial Secretary Paul Chan said, after the 3 percent pace ...

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Axiata to revive IPO of $2.5b Edotco

Bloomberg Axiata Group Bhd., Malaysia’s biggest wireless carrier, is reviving preparations for an initial public offering (IPO) of its tower business Edotco, according to reports Axiata’s advisers recently resumed work on the deal, which was shelved last year, said the people, who asked not to be identified because the information is private. Axiata aims to list the unit in Kuala ...

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Coal’s perfect storm rattles home to $50bn of projects

Bloomberg It’s been a tough few weeks for Australia’s coal industry. First there was a court ruling blocking a new mine on climate change grounds, then one of the world’s largest producers Glencore capped output growth, and finally China was seen to be slowing down Australian imports. The developments are symptoms of fuel’s decline and likely signal headwinds for the ...

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