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Bloomberg Donut King owner Retail Food Group Ltd. slumped by the most on record on Monday amid reports the company squeezed franchisees with high fees and offered limited management support. Shares in the company fell as much as 27 percent in Sydney trading, the steepest drop since listing in 2006, and wiping as much as $163 million off its market ...

Bloomberg President Donald Trump plans to keep pushing his legislative agenda in 2018 by releasing his long-promised infrastructure proposal in early January, a senior administration official said. Infrastructure advocates question whether a Republican-led Congress will be able to pass a spending plan with enough federal funding if it’s already approved a tax measure that official estimates say would bloat the ...

Bloomberg Uber Technologies Inc.’s London fate won’t be decided until mid-way through 2018 after a judge said that she will schedule an appeal hearing in either April or June, meaning the company can operate in its busiest European market until then. Judge Emma Arbuthnot proposed two starting dates, April 30 or June 25, for the five-day trial at a short ...

Bloomberg The UK government u-turned on campaign promises to disband the Serious Fraud Office (SFO), with the white-collar prosecutor remaining independent under the Conservative Party’s newest plans for tackling economic crime. The decision was expected to be announced on Monday by Home Secretary Amber Rudd, according to a statement from the Home Office. The National Crime Agency, which the government ...

Bloomberg The world’s largest container shipping line says international freight rates are reversing after climbing for most of this year, raising questions about the sustainability of the global trade recovery. Decade-old oversupply issues swamped demand for containerised sea trade in the third quarter, a senior official at Maersk Line Ltd. said. Over 90 percent of trade is routed through ships, ...

Dubai / WAM In his capacity as the Ruler of Dubai, Vice President and Prime Minister of the UAE His Highness Sheikh Mohammed bin Rashid Al Maktoum, approved the Government of Dubai’s 2018 General Budget Law No. (21) for the year 2017, with AED 56.6 billion expenditure, according to the new budget classification. Featuring a 19.5 % year-on-year increase, the ...

ABU DHABI / WAM The Ministry of Foreign Affairs and International Cooperation (MoFAIC) revealed the value of UAE foreign aid to Yemen during the period April 2015 to November 2017, amounting to AED9.4 billion ($2.56 billion). In a report, MoFAIC said that the humanitarian aid covered a number of vital sectors, reflecting the UAE’s keenness to reduce the suffering of ...

ABU DHABI / Emirates Business The UAE’s successful bid for Category B Membership under the International Maritime Organization (IMO) Council is a historic achievement and an important milestone in the country’s efforts to become one of the wo-rld’s leading maritime centers. Today, the world’s eyes are on the UAE, which has successfully outshone other major candidates to become the first ...

DUBAI / WAM Businesses in Dubai are more upbeat about the final quarter of 2017 compared to the previous quarter, driven by increased demand during winter months. The quarterly survey of Dubai Economy showed the composite Business Confidence Index (BCI) in Q3 increasing by 10.8 points and reaching 121.4 points, from 110.6 points in Q2 2017. The structural reforms and ...

Abu Dhabi / Emirates Business The peak pre-Christmas travel period is fast approaching with many travellers making plans for trips home or on holiday. The combination of the festive season and schools breaking up for holidays means the period from December 12 to January 5 will be a particularly busy time at Abu Dhabi International Airport, with up to 1.25 ...