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Bloomberg Back in April, giant Chinese developer Country Garden Holdings Co. ordered its thousands of staff to move faster in getting projects to market. The human and financial cost of the emphasis on speed is now coming into focus, after deadly accidents at its building sites caused the stock to crash. Country Garden shares plunged 17 percent, lopping off $6 ...

Bloomberg A central figure in a multi-billion dollar corruption scandal at a Malaysian state fund says a decision by Indonesia to hand over a $250 million yacht to Malaysia violates US and Indonesia laws. Low Taek Jho, described by US investigators as central to the 1Malaysia Development Bhd scandal, said in a statement Malaysia had decided to “illegitimately” acquire the ...

Bloomberg Huawei Technologies Co., which just edged past Apple Inc. to become the world’s second-largest smartphone maker, wants to be top of the heap before the end of 2019. The Chinese giant shipped more than 95 million phones in the first six months, up about 30 percent from a year earlier. Consumer division chief Richard Yu said he wants Huawei ...

DUBAI / WAM The Emirates Intellectual Property Association (EIPA) continues to lead in the ongoing unified efforts to promote the adoption of global best practices in intellectual property (IP). The association’s commitment to promo- ting a culture of IP in the country is widely reflected in its continuing efforts to build solid foundations in the advancement of legal action across ...

RIYADH / WAM Saudi Minister of Energy, Industry and Mineral Resources Khalid Al-Falih, has announced resumption of oil shipments through Bab-El- Mandeb Strait. In a statement carried by the Saudi Press Agency (SPA), Al-Falih, announced that Saudi Arabia has resumed oil shipments through Bab-El-Mandeb Strait effective earlier on Saturday, after confirmation by the Joint Forces of the Coalition to Restore ...

DUBAI / WAM Dubai’s Roads and Transport Authority (RTA) is launching a Smart Time Management System (STMS) at venues of various events, such as exhibitions and conferences. The system enables the RTA to receive real-time data on the number of visitors and, accordingly, deploy an appropriate number of me-ans of transit. It also enables passengers to be sent information on ...

DUBAI / WAM Esri, the global leader in spatial analytics, presented the Dubai Electricity and Water Authority (Dewa) with its Special Achievement in GIS (SAG) Award at the annual Esri User Conference in San Diego, California. Esri selected Dewa from 300,000 eligible candidates to receive the award for its innovative application for mapping, data analytics, and thought leadership in the ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, visited Mohammed Bakheet Al Ketbi on Saturday at his residence in Al Ain. Al Ketbi and his family, along with several Emiratis and dignitaries, welcomed His Highness Sheikh Mohamed bin Zayed’s visit, while appreciating ...

Dubai / Emirates Business The Dubai Land Department (DLD) has played an important role in strengthening the alliance between the United Arab Emirates and the People’s Republic of China over the past decades by working with its partners to further attract Chinese investors, and to identify the investment opportunities available in Dubai and the UAE in general. Her Excellency Majida ...

SHARJAH / WAM Mohamed Ahmed Amin, Acting Director-General of the Sharjah Chamber of Commerce and Industry (SCCI) and Omar Moham-med Salleh, Trade Commissioner of the Malaysia Trade Centre at the Consulate General of Malaysia in the UAE, discussed ways of developing economic relations and expanding trade between Sharjah and alaysia. The meeting was held at the SCCI headquarters, where the ...