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Dubai / Emirates Business Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (Measa) region, and the number eight global financial centre, marked a significant rise in Islamic assets being managed in the centre, recording a 45% growth between Q2 2018 and Q2 2019. Islamic finance is growing at 1.5 times ...

MOSCOW / WAM Russian media has highlighted the rousing reception accorded to Russian President Vladimir Putin in the UAE, praising the warm hospitality he received. In a story titled, ‘Red Carpets Are for Wimps! How UAE Greeted Russian President Vladimir Putin’, published by the Russian news agency, Sputnik, said that the “reception that the hosts offered him in Abu Dhabi ...

ABU DHABI / WAM Abu Dhabi Digital Authority (ADDA), launched the ‘Artificial Intelligence Lab,’ a new initiative which will provide a dedicated platform to develop innovative digital solutions using AI and machine learning and apply these solutions to improve the efficiency in services and contribute to excellence in government performance. The AI lab, which was announced at the recently concluded ...

Bloomberg The Indian conglomerate that owns Jaguar Land Rover (JLR) said it is open to finding partners for the automaker but isn’t planning on selling the embattled unit. “We’re not going to sell,” said Natarajan Chandrasekaran, chairman of Tata Sons Ltd, the holding company in an expansive business empire that includes Tata Motors Ltd. “Auto is a core business for ...

Bloomberg Blackstone Group Inc and a rival consortium led by KKR & Co are considering bids for the cement unit of Indian cosmetics to paper conglomerate Emami Group, according to people with knowledge of the matter. TPG Capital is also weighing a bid for Emami Cement Ltd and could look for a local partner, said one of the people, who ...

Bloomberg Huawei Technologies Co, the wireless network giant blocked from selling its equipment in the US and some other markets, is betting it can find customers for its 5G gear in India, where the government has yet to weigh in on US calls for a boycott against the Chinese company. The world’s largest maker of components for 5G networks said ...

Bloomberg SoftBank Group Corp has tapped investment bankers at Houlihan Lokey to explore options for easing WeWork’s cash crunch, according to people with knowledge of the discussions. Houlihan is working on cutting liabilities as WeWork mulls a separate deal that could hand control of the struggling office-sharing company to SoftBank, its biggest shareholder, according to the people. Other measures for ...

Bloomberg India, the world’s top palm oil consumer, is shunning purchases from Malaysia, the No 2. producer, after the southeast Asian nation’s prime minister criticised its policy in Kashmir, sparking the latest trade spat in the region. Malaysian Prime Minister Mahathir Mohamad last month told the United Nations that India “invaded and occupied” Kashmir. Since then, many Indian buyers of ...

Bloomberg Labour talks between General Motors (GM) Co and United Auto Workers (UAW) leaders are pushing into Wednesday, inching toward a tentative agreement that could end a strike now in its fifth week. Negotiators are showing signs of progress: GM Chief Executive Officer Mary Barra made a personal appearance at the main bargaining table, and UAW bosses have summoned their ...

Bloomberg The UK will introduce mandatory checks on trucks to ensure they’re ready to cross the border in the event of a no-deal Brexit as a majority of businesses remain unprepared, the public spending watchdog said. The border will be “less than optimal” under a no-deal exit, meaning delays for businesses and the public, the National Audit Office (NAO) said ...