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Bloomberg India’s Adani Group will proceed with its $16.5 billion Carmichael coal project in Australia’s Queensland state after its board approved a final investment decision on the development. Adani announced the move on Tuesday after last-minute delays due to uncertainty over a royalty deal with the state and amid resistance to the project because of concerns that it will damage ...

Bloomberg China wants to own the 21st Century economy. That’s why Beijing economic planners have mapped out a full-on strategy called Made in China 2025 to dominate in artificial intelligence, robotics, electric vehicles and other key sectors. The government is spending big on tax breaks and subsidies to get these industries off the ground quickly. Call it industrial policy on ...

Bloomberg Kuwait’s ruler is stepping up his efforts to resolve one of the worst crises among Gulf Arab monarchies, a day after Saudi Arabia and its allies isolated Qatar by cutting off air and sea transport and closing the small nation’s only land border. Sheikh Sabah Al-Ahmed Al-Sabah was to travel to Saudi Arabia on Tuesday to mediate an end ...

Bloomberg Congress should extend the US government’s borrowing authority before lawmakers depart for their traditional August vacation, the White House said, as the Trump administration sought to ratchet up pressure on Capitol Hill to avoid an unprecedented default on the national debt. “We’re looking for before they adjourn for August recess,” White House legislative affairs director Marc Short told reporters ...

Bloomberg BHP Billiton Ltd.’s board is being targeted for a sweeping overhaul by Tribeca Global Natural Resources Fund, opening a potential new front in the burgeoning activist campaign against the world’s biggest mining company. The Sydney-based hedge fund, which last month joined billionaire Paul Singer’s Elliott Management Corp. in calling for changes aimed at shifting strategy at BHP, believes about ...

Dubai / Emirates Business The UAE’s free trade zones are using advanced information management tools to drive the doubling of the global free trade zone GDP, experts announced. Globally, the contribution of free trade zones to the Islamic Economy is set to double to USD 117 billion by 2021, according to a recent report by researchers Salaam Gateway. The UAE ...

Dubai / Emirates Business The 2017 Bayt.com Middle East and North Africa Salary Survey, conducted by Bayt.com, the Middle East’s number one job site, and YouGov, a leading market research agency, revealed that almost half (44%) of UAE respondents believe that salaries are increasing in the UAE, and 24% believe that they are staying the same. In terms of current ...

Abu Dhabi / Emirates Business New figures from Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi) show that Abu Dhabi welcomed 1.6 million guest arrivals year to end of April, a 7% growth compared to the same period in 2016, As a single month, April has continued to build on the strong performance of the opening quarter of the ...

Dubai / Emirates Business Tejar Dubai, an initiative of the Dubai Chamber of Commerce and Industry, recently launched SWOT Specialized Professional Institute (SSPI), a new training institute in Dubai’s Garhoud area which specialisies in aviation, logistics, and cargo safety. The institute is the 28th commercial project to be launched by Tejar Dubai to date, while it is also the third ...

Bloomberg South Korea’s finance ministry has drawn up an 11.2 trillion won ($10 billion) supplementary budget to help meet President Moon Jae-in’s effort to increase jobs and incomes. If passed by the parliament, the finance ministry plans to use 4.2 trillion won of the spending package to create 86,000 new jobs, 71,000 of them in the public sector, including positions ...