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DUBAI / WAM Enoc Group on Monday announced that the construction of its pavilion at Expo 2020 has been completed. The state-of-the-art pavilion under the theme of ‘Reimagine Energy,’ occupies a plot of approximately 2,060 m2 and comprises five distinct structures. The pavilion was built using 700 tonnes of steel to minimise waste and environmental impact, and to promote environmental ...

Bloomberg India unveiled a spending plan of almost $500 billion as the government of Prime Minister Narendra Modi seeks to dig Asia’s third-largest economy out of its pandemic-induced slump. His government’s plan relies on taxes, including higher levies on some imports to boost self-reliance, selling state assets and dividend income to partly fund the nearly 35 trillion rupee ($480 billion) ...

Bloomberg Indonesia will receive as many as 23.1 million doses of the AstraZeneca Plc vaccine in the first half, boosting the government’s inoculation efforts as Covid-19 cases and deaths continue to rise by record numbers. The Southeast Asian nation will get the shots of the AstraZeneca vaccine through the World Health Organization-backed Covax initiative, the Indonesian foreign affairs ministry said ...

Bloomberg International companies operating in Asia are considering leaving Hong Kong out of legal contracts amid concerns about China’s growing control, the Financial Times reported, citing people it didn’t identify. Lawyers in the region have received a surge of queries from clients about excluding Hong Kong from governing law and arbitration clauses when conducting business there or entering into joint ...

Bloomberg Hong Kong insurance giant AIA Group and China Strategic Holdings, an investment firm backed by billionaire Henry Cheng, are among final bidders for Bank of East Asia (BEA)’s life insurance unit, according to people with knowledge of the matter. The companies have submitted binding bids for the asset, proceeding into the final stage of negotiations, the people said, asking ...

Bloomberg Factory activity across much of Asia continued to hold up in January even as China’s output showed signs of moderating. Taiwan’s IHS Markit January manufacturing purchasing mangers’ index rose to 60.2 from 59.4 in December, its highest reading since April 2010. South Korea’s rose to 53.2 from 52.9, the most since February 2011. Both were well above the 50 ...

Bloomberg China’s efforts to control a recent resurgence of Covid-19 are undercutting a recovery that’s been one of the bright spots in the global economy. Travel has collapsed ahead of the Lunar New Year holidays after recent lockdowns were imposed in northern China to curb outbreaks and the government took steps to discourage millions of people from making the annual ...

Bloomberg The European Union (EU) is seeking to overturn Apple Inc.’s victory in a 13 billion-euro ($15.8 billion) tax dispute, saying judges used “contradictory reasoning” when they found that the company’s Irish units weren’t liable for huge payments. A summary of the appeal published on Monday shows the EU’s determination to challenge the critical July court judgment. The decision was ...

Bloomberg President Joe Biden withdrew all the spending cuts proposed by former President Donald Trump during his final days in office. Biden said in a letter to Congress that he was reversing all 73 spending cuts that Trump had requested, which touched virtually every cabinet-level agency as well as federal programs such as the National Endowments of the Arts and ...

Bloomberg Argentina’s Salta province reached a deal with an ad-hoc creditors group for amendments to its foreign bonds due in 2024, the provincial government said in a statement. The bondholders group, represented by VR Advisory Services Ltd., holds roughly 40% of the notes. Salta owes $350 million of debt it issued in 2016, which trades at distressed levels with yields ...