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  Bloomberg The crisis sparked by the shortage of cash in India following Prime Minister Narendra Modi’s anti-graft measure to ban high-value currency bills has hit the movement of goods in Asia’s third-largest economy. More than half of an estimated 9.3 million trucks under the All India Motor Transport Congress have been affected as drivers abandon vehicles mid-way into their ...

  Bloomberg A South Korean shipping company that filed for bankruptcy protection five years ago emerged as the surprise winning bidder for some assets of the collapsed Hanjin Shipping Co., pipping a bigger rival that is undergoing a creditor-led debt revamp. Korea Line Corp., the nation’s second-largest bulk carrier, beat Hyundai Merchant Marine Co. to be the preferred bidder for ...

  Bloomberg Volkswagen AG has reached an agreement with U.S. environmental regulators to fix or buy back around 80,000 Audi, VW and Porsche vehicles with tainted 3-liter diesel engines, nearing a resolution on a key aspect of the emissions-cheating scandal, people familiar with the discussions said. Under an accord with the Environmental Protection Agency and California’s Air Resources Board, Volkswagen ...

  Bloomberg The Obama administration has yet again delayed a decision on the controversial Dakota Access crude pipeline, even as President-elect Donald Trump vows to speed up reviews of such projects. The US Army Corps of Engineers said that it’ll hold more talks with a Native American tribe potentially affected by the pipeline before deciding on a permit that’s key ...

  Abu Dhabi / WAM The UAE seeks to attract more than US$70 billion in industrial investments by 2025 in response to directives from Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, a senior government official said on Monday. This will help increase the share of the industrial sector in the country’s ...

  Sharjah / WAM HH Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, visited a number of vital development projects in the emirate, including Al Jubail Marina Market, Sharjah International Airport, bridges and roads, exhibition and conference venues, and Sharjah Mosque projects. At the outset of his visit to Al Jubail Marina Market, he was ...

  Abu Dhabi / WAM Masdar Institute is keen to strengthen its research efforts in the field of water desalination in the light of the challenges facing the region, including the scarcity of water resources, Dr. Behjat Al Yousuf, Interim Provost, Masdar Institute of Science and Technology, has said. She cited that the per capita consumption of water in the state ...

  Abu Dhabi / WAM The International Renewable Energy Agency (IRENA) and the Abu Dhabi Fund for Development (ADFD) have officially opened the fifth round of funding for renewable energy projects in developing countries. The funding round of approximately US$ 50 million is part of ADFD’s US$ 350 million (AED 1.285 billion) commitment offering concessional loans to renewable energy projects endorsed ...

  DUBAI / Emirates Business UAE’s cleaning sector is fast adopting automated technologies; this was evident from the latest technologies demoed at Middle East Cleaning Technology Week (MECTW) being held at Dubai International Convention Centre from November, 13-15. The largest event for the cleaning sector in the region, for the first time, hosted live demos for innovative products in the ...

  New York /AFP President-elect Donald Trump has vowed to move aggressively on a conservative agenda in filling Supreme Court vacancies, cracking down on immigration and cutting taxes, but also sought to reassure worried Americans they have nothing to fear from his presidency. Setting aside the strident tone of his campaign, the 70-year-old assumed a gentler manner in his first ...