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  Bloomberg U.S. stocks plunged the most in 10 months, joining a selloff in global risk assets on speculation that the the U.K. decision to leave the European Union will hamper worldwide growth. Equities sank to session lows in afternoon trading, with the Dow Jones Industrial Average sliding more than 600 points. The S&P 500 Index extended losses after falling ...

  Dubai / Emirates Business Dubai Electricity and Water Authority (DEWA) received international recognition and was awarded a Letter of Appreciation from the United Nations World Summit on the Information Society (WSIS) Prizes 2016, in the Champions category for its Smart Power Plant System. DEWA launched the system in February this year to develop its smart operations and foster development ...

  Dubai / Emirates Business The Telecommunications Regulatory Authority (TRA) launched on Thursday ‘Erteqa’ a new initiative which aims to increase the level of customer services across the UAE’s telecoms sector. The initiative was inaugurated during a press conference held at the Four Seasons Resort Dubai. The initiative which is under the patronage of HH Sheikh Mansour bin Zayed Al ...

  Ritika Sharma / Emirates Business With smartphone penetrations mounting at startling pace and rapid proliferation of technological devices combined with increasing spendable income of residents, the UAE is vigorously embracing technological creations and moving towards a hyper-connected future. Testimony to the aforesaid statement is the fact that GfK Connected Consumer Index, which studied data of nearly 78 countries, has ...

  ALKESH SHARMA / Emirates Business Mergers and Acquisitions (M&A) activity is the key to fight financial fluctuations and emerge as a successful business model in this region. The real estate and construction sector, particularly in the UAE, has witnessed a sharp surge in the business owing to M&A deals in the last few years. According to the Al Masah ...

  Panama City, Panama / AFP With its capacity boosted by nearly three times, Panama’s enlarged canal — set to be inaugurated on Sunday — is expected to stimulate trade between the United States and Asia, and steal business from the rival Suez canal. “A good deal of the commerce between Asia and the east coast of the United States can ...

  Beijing / Bloomberg Japan’s $1.3 trillion Government Pension Investment Fund (GPIF) is suing Toshiba Corp. for losses on its investments after an accounting scandal sent the conglomerate’s shares plunging. GPIF is seeking damages of about 900 million yen ($8.6 million), said Shinichirou Mori, a spokesman for the fund. The losses relate to shares bought by GPIF’s external fund managers in ...

  Bloomberg The European Central Bank reinstated a waiver on Greek debt, allowing the nation’s banks more access to cheaper refinancing lines but stopping short of including such bonds in quantitative easing for now. The ECB “decided to reinstate the waiver affecting the eligibility of marketable debt instruments issued or fully guaranteed by the Hellenic Republic,” the institution said in ...

  Washington / AFP US Democrats failed to force Congress to vote on gun safety legislation following the Orlando nightclub massacre as Republican leaders adjourned the House early on Thursday after a dramatic overnight sit-in by Democrats. The scenes on the House floor, unprecedented in recent history, began after Democrats took over the chamber’s proceedings for most of the day, ...

  Abu Dhabi / WAM Tadweer celebrated its 5-day long Occupational Environment, Health & Safety (OEHS), Week for 2016. With its two strategic partners, the initiative is aimed at promoting a culture of occupational environment, safety and health for its employees, contractors and community. The Universal Hospital conducted various health and well-being initiatives and National Trading and Pharmaceuticals (NTPE) organised activities ...