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Dubai / WAM Dubai retained its ranking as the fourth most popular travel destination in the world, according to the ninth annual Mastercard Global Destinations Cities Index. The emirate welcomed 14.87 million international overnight visitors in 2016, with an expected continued growth of 7.7 percent for 2017. Dubai continues to be the city with the highest international overnight visitor spend, ...

Dubai / Emirates Business Over 140 exhibiting brands from 27 countries arrived in Dubai to participate at Gulf Glass, the largest flat & container glass event in the region, which will run until September 27 at the Dubai World Trade Centre. With more than 10,000 construction projects currently active in the GCC, the demand for glass and glass related products ...

Bloomberg The US has gamed out four or five different scenarios for how the crisis with North Korea will be resolved, and “some are uglier than others,” National Security Adviser H.R. McMaster said as tensions remain high between the two countries. While McMaster said the threat from Pyongyang is “much further advanced” than anticipated and the Pentagon said the president ...

Bloomberg Baidu Inc.’s iQiyi is targeting a US initial public offering as soon as in 2018 that could value China’s most popular Netflix-style streaming video service at more than $8 billion, two people familiar with the matter say. The company controlled by search giant Baidu is about to kick off negotiations with banks and deal arrangers and is shooting for ...

Bloomberg Alibaba Group Holding Ltd. will buy control of unprofitable delivery business Cainiao for 5.3 billion yuan ($800 million) and spend billions of dollars more to expand a shipping network that spans the world’s largest e-commerce market. China’s largest web marketplace agreed to increase its stake in Cainiao Smart Logistics Network Ltd. to 51 percent. Under the deal, Alibaba plans ...

Bloomberg Nestle SA may buy or sell businesses with combined sales of almost 10 billion francs ($10 billion) as Chief Executive Officer Mark Schneider embarks on the biggest overhaul of the world’s largest food company in at least a decade. Selective acquisitions and divestments could affect about 10 percent of total revenue, Schneider told investors as he unveiled his new ...

Bloomberg A week after London moved to revoke Uber Technologies Inc.’s operating license, the company and its electronic ride-hailing competitors are feeling the heat in New York as city officials consider moves to regulate and control the industry. The City Council was considering a six-month study of Uber’s impact on the traditional yellow cab business, where the value of medallions—licenses ...

Bloomberg Hurricanes sometimes don’t need to make landfall to cause problems for US refineries. At least two East Coast refineries are making less gasoline and diesel as rough Atlantic seas hamper the transfer of crude oil from ships to barges for delivery to the facilities, people familiar with operations say. Philadelphia Energy Solutions Inc., which operates the largest oil-refining complex ...

DUBAI / Emirates Business The Lifestyle Expo in Dubai is being held to foster business collaboration between Hong Kong, the Chinese mainland and the UAE as well as the rest of the Middle East-Africa (MEA), region, helping companies seize the enormous business opportunities emerging from China’s Belt and Road Initiative and Expo 2020 Dubai. Jointly organised by the Hong Kong ...

ABU DHABI /WAM Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, on Monday marked a new partnership with Abu Dhabi Islamic Bank (ADIB), a leading financial institution, to seek opportunities to collaborate and consult on initiatives to promote the growth and development of the FinTech ecosystem in Abu Dhabi and the UAE. The Memorandum of Understanding ...