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China spends big to win friends, influence across East Asia - Dotemirates

China spends big to win friends, influence across East Asia

Bloomberg China spent more than $48 billion across East Asia and the Pacific between 2000 and 2016 to reward countries that consume its products and support its foreign policy positions, a new report has found.Infrastructure investment dwarfed other arms of Chinese public diplomacy over the period, according to a study by US research lab AidData released on Wednesday, totalling $48.5 billion, with a further $273 million spent on humanitarian aid, $613 million on direct budget support and $90 million on debt relief.China’s end game was clear, the report found, rewarding “countries that consume more of its products, open market opportunities...


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UAE News

17/03/2019

Ban on insiders' trading at public shareholding companies listed in the UAE capital markets took effect on Sunday

ABU DHABI, 17th March, 2019 (WAM) -- A ban on the insiders' trading at public shareholding companies listed in the UAE capital markets took effect on Sunday, 17th March 2019, in compliance with the applicable regulations and rules. In a circular issued today, the Abu Dhabi and Dubai Financial Markets called on listed shareholding companies and brokerage companies to implement the ban until the announcement of the financial statements for 2019’s first quarter. The move comes in line with to the provisions of Article 14 of the Securities and Commodities Authority's (SCA) board of directors resolution No. (1) of 2001...
17/03/2019

FNC, Bahraini Council of Representatives sign MoU

ABU DHABI, 17th March, 2019 (WAM) -- Dr. Amal Abdullah Al Qubaisi, Speaker of the Federal National Council, FNC, and Fawzia Abdullah Zainal, Speaker of the Council of Representatives of Bahrain, signed a Memorandum of Understanding, MoU. The MoU will enable both parliamentary institutions to keep pace with the growing partnership between the UAE and Bahrain, to achieve their common interests and enhance their bilateral relations based on foresight in terms of government and parliamentary work. It will also enable both sides to launch joint initiatives related to innovation and support and empower the youth and women, in line with...
17/03/2019

President of Zimbabwe Visits Wahat Al Karama

ABU DHABI, 17th March, 2019 (WAM) -- The President of Zimbabwe, Emmerson Mnangagwa, visited today Wahat Al Karama (Oasis of Dignity), Abu Dhabi’s national and cultural landmark designed to commemorate the sacrifices and heroic deeds of UAE martyrs to defend their homeland and protect its achievements. Upon arrival, President Mnangagwa was welcomed by Sheikh Khalifa bin Tahnoun Al Nahyan, Executive Director of the Martyrs' Families' Affairs Office, at the Abu Dhabi Crown Prince's Court. He attended the Guard of Honour ceremony, then laid a wreath at Martyrs' Monument, made up of 31 panels leaning on one another in a symbol...

Fiat recalls 863,000 vehicles that violate US emissions standards

Bloomberg Fiat Chrysler Automobiles NV recalled almost 863,000 vehicles that violate US emissions standards, another setback for a company that just agreed in a separate case to make amends for building trucks and SUVs that polluted more than legally allowed.The voluntary recall of 2011 through 2016 model year Jeep, Dodge and Chrysler brand vehicles will be implemented in phases throughout the year, the US Environmental Protection Agency said. The automaker won’t be fined or face allegations of wrongdoing. The cost of the callback was accounted for last year, according to the company.The recall of gasoline-powered models was prompted by a...

Amazon wins final incentive deal for HQ2 in Northern Virginia

Bloomberg Amazon.com Inc. won the last approval it was seeking for an incentive plan that helped lure the largest online retailer to Northern Virginia.The five-member Arlington County Board unanimously approved $23 million in incentives for the company to build a headquarters in the Crystal City neighborhood, just outside Washington, D.C. — after six-and-a-half hours of testimony, protests and discussions by more than 100 people who argued for and against the deal.The local government’s carrot for Amazon, which is eventually expected to bring at least 25,000 jobs, comes in addition to a subsidy package of up to $750 million over 15...

Brookfield’s Oaktree deal marks ascent as private equity giant

Bloomberg Bruce Flatt put Wall Street’s biggest private equity players on notice that the Canadian juggernaut was coming for them three years ago.The head of Brookfield Asset Management Inc. told Bloom-berg Television then that his firm — pushing into private equity — should be mentioned in the same breath as Blackstone Group LP, Carlyle Group LP and KKR & Co. It was an unusually brash statement from the understated Winnipeg native.He’s more than backed it up. Brookfield Asset Management agreed to buy a majority stake in Oaktree Capital, a move that will create a $475 billion alternative-investing behemoth. That’s more...