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Dubai/ WAM Developing and maintaining a sustainable, reliable and high-quality infrastructure is the key to the success of any city, according to Abdulrahman Saleh Al Saleh, Director-General of Dubai’s Department of Finance (DoF). “We are continuously aspiring to enhance the financial sustainability of the public sector and provide a stimulus for economic growth in the Emirate of Dubai. In line ...

Ras Al Khaimah / Emirates Business Ras Al Khaimah Tourism Development Authority (Raktda) on Wednesday announced record-breaking visitor numbers to Ras Al Khaimah in August, with almost 118,000 visitors choosing the UAE’s northernmost Emirate to visit and enjoy it’s fascinating history, traditional culture, magnificent landscapes and world-class hotels and resorts. The emirate of Ras Al Khaimah has witnessed a 5% ...

Bloomberg Nissan Motor Co is seeking to sell a wholly owned subsidiary that distributes vehicle parts and materials in a deal that may be valued at about $1 billion, as the struggling Japanese automaker seeks to slim down, people familiar with the matter said. The company has invited private equity and trading firms to bid for 100 percent of Nissan ...

Bloomberg The trade spat between Japan and South Korea caused Korean visits to its neighbor to plunge by almost half in August, dragging down overall arrivals to Japan for only the second time in six years. Tourists from South Korea, which normally make up about a quarter of visitors to Japan, plummeted 48 percent to 308,700 people, according to the ...

Bloomberg India still ranks among the most expensive countries in the world in terms of fees charged on equity and hybrid mutual funds, even after implementation of a number of investor-friendly measures in recent years. The country’s asset-weighted median expense ratio for equity mutual funds is 1.93 percent, according to a study of by Morningstar Inc. That’s higher than all ...

Bloomberg The air quality level in Singapore turned unhealthy ahead of the Formula 1 race this weekend, while Kuala Lumpur was ranked among the world’s most polluted cities, as wind from neighboring Indonesia continued to sweep in ash and smoke from illegal burning of forests and farm land. Authorities cancelled schools for nearly one in seven Malaysian children as the ...

Bloomberg South Korea stocks, one of the worst-hit markets in the wake of US-China trade tensions, face another risk: the surge in crude oil prices. Nader Naeimi, head of dynamic markets at AMP Capital Investors, is selling Korean equities on concern rising geopolitical risks in the Middle East will raise oil prices, hurting the earnings of Korean firms. He’s turning ...

Bloomberg If General Motors (GM) Co’s negotiations with the United Auto Workers (UAW) are any indication, Detroit’s automakers may not have a prayer in their effort to rein in rising healthcare costs. As GM was nearing the expiration of its labor contract with the union, the carmaker sought to have hourly workers pay 15 percent of their health-care costs, according ...

Bloomberg Apple Inc sought to rebut claims by the European Commission that Irish units at the centre of its fight to overturn a record $14.3 billion tax bill are nothing but phantoms. Judges weighing Apple’s legal challenge on day two of a hearing at the EU’s General Court homed in on the exact functioning of the Irish branches that allowed ...

Bloomberg Envista Holdings Corp, a dental products maker, raised $589 million after pricing its US initial public offering within the marketed range. The dental business of medical and industrial equipment manufacturer Danaher Corp sold 26.8 million shares for $22 apiece, according to data compiled by Bloomberg. The shares were offered at $21 to $24 each, according to a regulatory filing. ...