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Bloomberg Masami Takahashi, president of Uber Technologies Inc. in Japan, is leaving the ride-hailing company to join WeWork Cos. in the country, people with knowledge of the matter said. Takahashi will join the co-working space provider as it prepares to start operations in Japan, the people said, asking to not be identified because the details are private. SoftBank Group Corp. ...

Bloomberg India tightened rules to prevent errant founders from misusing an 11-month-old bankruptcy law to regain control of delinquent companies that are being sold. Founders of companies whose borrowings have been classified as non-performing for a year or more and that are unable to pay overdue amounts, including interest and charges, are barred from repurchasing their assets, the corporate affairs ...

Bloomberg China’s new plan to slash import taxes on a wide range of consumer goods promises to boost the prospects of multinationals in the Chinese market, with everything from the likes of Procter & Gamble Co.’s diapers to other items becoming more affordable to local consumers. Tariffs for 187 product categories will drop from an average 17.3 percent to 7.7 ...

Bloomberg Uber Technologies Inc. asked the UK Supreme Court to rule on its appeal over whether it has to pay drivers for overtime and during vacations. Lawyers for the company filed a permission to appeal application that would see the issues skip the Court of Appeal entirely, an Uber spokesman said. Uber has lost at two separate courts in the ...

Bloomberg A high-stakes legal clash is unfolding over President Trump’s temporary pick to run Elizabeth Warren’s favourite bank regulator, and the White House is holding its ground. Trump said he’s naming White House budget director Mick Mulvaney to be the temporary head of the Consumer Financial Protection Bureau (CFPB). The announcement came hours after outgoing CFPB Director Richard Cordray said ...

Bloomberg Elon Musk knows how to make promises. Even by his own standards, the promises made while introducing two new Tesla vehicles—the heavy-duty Semi Truck and the speedy Roadster—are monuments of envelope pushing. To deliver, according to close observers of battery technology, Tesla would have to far exceed what is currently thought possible. Take the Tesla Semi: Musk vowed it ...

Dubai / Emirates Business The combined value of the 22,680 active construction projects in the GCC has exceeded $2.43 trillion (AED8.91 trillion) in November 2017, according to latest GCC Construction Analytics report issued by BNC Network, the largest and most comprehensive project research and intelligence provider in the Middle East and North Africa (MENA) region. Of these the urban construction ...

DUBAI / WAM Jafza, the Dubai flagship logistics hub of global trade enabler DP World, announced that trade in steel and building materials reached AED13.5 billion during 2016 with further increases expected as the free zone continues to develop services for companies in the sector. Announcing Jafza’s participation in the Big 5 exhibition being held at the Dubai World Trade ...

DUBAI / Emirates Business The value of annual land sales in Dubai has risen by AED30 billion over the last five years, one of the emirate’s biggest real estate brokerages revealed, identifying Business Bay as a key area for further growth. Firas Al Msaddi, CEO of fäm Properties, said that as of November 9, land sales for this year had ...

ABU DHABI / WAM Abu Dhabi Ports, the Port of Fujairah, and Khalifa Industrial Zone Abu Dhabi (KIZAD) announced the opening of eight Abu Dhabi Government representative offices at KIZAD’s business bentre in Taweelah. The offices are of the Department of Economic Development, Department of Urban Planning and Municipalities, Ministry of Interior representing the General Command of Civil Defence and ...