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Uber Acquires Mideast Competitor Careem for $3.1B

Ride-hailing service Uber announced on Tuesday it has acquired its Mideast competitor Careem for $3.1 billion, making it the largest-ever technology purchase in the region.

Uber said in a prepared statement that the $3.1 billion purchase consists of $1.7 billion in convertible notes and $1.4 billion in cash. Under the deal, Careem will keep its brand as a wholly-owned subsidiary of Uber, operating as an independent company led by its original founders.

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Traffic-Choked Jakarta Inaugurates Mass Rapid Transit System

Indonesia's capital inaugurated its first mass rapid transit system on Sunday, a $1.1 billion project seen as crucial to tackling some of the world's worst traffic congestion.

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Last Hurdle for EU Copyright Reform in European Parliament

The European Parliament will vote Tuesday on controversial copyright reforms championed by news publishers and the music business but criticized by big tech and internet freedom activists.

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Despite Lawsuits, Bayer Boss Calls Monsanto Takeover 'a Good Idea'

The boss of German chemicals giant Bayer insisted Sunday its multi-billion dollar takeover of Monsanto was a "good idea", despite huge legal costs piling up over its Roundup weedkiller.

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Brussels Warns of New Row Brewing over Italy Finances

The EU warned Sunday of a new row brewing with Italy over its budget, barely a few months after both sides agreed on a hard-fought deal with Rome's disputed 2019 finances.

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China's Xi Insists New Silk Road Runs Both Ways as Italy Signs Up

Chinese President Xi Jinping sought Friday to allay Western unease over his new Silk Road initiative by emphasizing the vast infrastructure project's two-way nature as he kicked off a whistlestop European tour in Rome.

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Pound Up but Still Faces Pressure after Brexit Delay Deal

The pound rose Friday but was struggling to claw back its latest losses after the EU gave Britain a Brexit deadline extension, while equity markets mostly rose on a positive lead from Wall Street.

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UK's Commemorative Brexit Coin on Hold amid Political Crisis

The Royal Mint, Britain's official coin-maker, has joined the legions of people and businesses left in limbo over Brexit as the country asks the EU to delay its departure from the bloc.

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Iran Supreme Leader Calls European Trade Mechanism 'Bitter Joke'

Iran's Supreme Leader Ayatollah Ali Khamenei called a trade mechanism launched by European countries to bypass renewed U.S. sanctions a "bitter joke" on Thursday, in a speech aired by state TV.

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U.S. Trade Negotiators to Visit China on March 28-29

Senior U.S. officials will visit Beijing for a new round of trade war talks on March 28-29, followed by a trip to the United States by China's top negotiator in April, the Chinese commerce ministry said Thursday.

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