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Bloomberg The UK Treasury is planning new measures to encourage investment in machinery and factories to help revive Britain’s flagging productivity, two officials familiar with the matter said. Chancellor of the Exchequer Philip Hammond may use the budget on October 29 to announce the measures, with tax breaks under active consideration, according to the officials, who declined to be named ...

Bloomberg Facebook Inc. said intimate information, including search results, recent locations and hometowns, were stolen from 14 million users by attackers in a major hack of the social network disclosed two weeks ago. The company said the cyber-attack, one of the worst to hit Facebook, affected 30 million people rather than about 50 million the company first reported September 28. ...

Bloomberg A gauge of underlying US inflation was below estimates in September as used-car costs fell and housing rents cooled, signalling that price gains may remain close to where Federal Reserve policy makers want them amid an outlook for continued gradual interest-rate hikes. Excluding volatile food and energy costs, the core consumer price index rose 2.2 percent in September from ...

DUBAI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy and Hartwig Loger, Austrian Minister of Finance have discussed means of strengthening the overall economic, commercial and investment cooperation between the UAE and Austria. During the meeting, which was held at the premises of the Ministry of Economy in Dubai, they also discussed other key issues, such as exchanging ...

SHARJAH / WAM As part of its ongoing commitment to empower young leaders in Sharjah and the UAE, the Sharjah Investment and Development Authority (Shurooq), has launched Shurooq Youth Council, a first of its kind council in Sharjah. The new council is dedicated to support the distinguished young leaders working in Shurooq, to empower their ambitions in line with future ...

Dubai / WAM Smart Dubai has begun preparations for its pavilion at the upcoming Gitex Technology Week 2018, set to be held at the Dubai World Trade Centre from October 14-18, where it plans to showcase the strategies, services and initiatives that have made Dubai a world leader in the smart city sector. The Smart Dubai Office, SDO, is collaborating ...

Abu Dhabi / WAM The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), and the Registration Authority of Abu Dhabi Global Market (ADGM), on Wednesday signed a Memorandum of Cooperation (MoC), to foster a conducive environment and explore joint efforts to support the development of professional, business and trade associations and non-profit organisations established in Abu Dhabi. The memorandum ...

Bloomberg Taiwanese leader Tsai Ing-wen cautioned China against any efforts to interfere in local elections next month, in a toughly worded speech that mirrored US Vice President Mike Pence’s own rebuke to Beijing. Tsai made the remarks during a National Day address in Taipei, in which she described China as a threat to the international order. The Taiwanese president used ...

Bloomberg China has turned half a trillion dollars of central bank money into bricks and mortar, and there’s more to come. That transformation can be best seen in Heze, a ‘small’ city of about nine million in the province of Shandong. There, local authorities have ripped down more than a quarter of a million older houses since 2015, some of ...

Bloomberg Indonesia has a blunt message for the US Federal Reserve’s Jerome Powell and other global financial chiefs gathering in Bali this week: be mindful of the effects of your policies on emerging economies. Even though authorities in the Southeast Asian nation are taking the right steps to stabilise the currency and keep deficits on the current account and budget ...