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Bloomberg Shares of jewellers climbed in India after the government withdrew an order that brought the industry under anti money-laundering legislation, a move that comes just as gold buying improves before the Hindu festival of Diwali, the peak season for demand. Jewellers were included in the Prevention of Money-Laundering Act in August, increasing compliance requirements. Buyers have been shying away ...

Bloomberg Consumption was India’s big story. Its 1.3 billion population was expected to guzzle everything from iron to iPhones, driving global growth and cheering investors such as Apple Inc. and Goldman Sachs Group Inc. For a while everything seemed smooth. Indians were the world’s most confident consumers and the $2 trillion economy was the fastest-growing big market. Then, last November, ...

Bloomberg ­­­­­­­­­­­­­­­ Christmas shopping may get more hectic and crops might go unharvested unless the UK government ensures access to unskilled migrant labour after the UK leaves the European Union, the British Retail Consortium (BRC) warned. The government must make it easy for workers from the EU currently living in the UK to secure settled status and establish an immigration ...

Bloomberg General Electric Co.’s new boss has barely uttered a word in public during his first two months on the job. But he’s already sending signals that his tenure could bring one of the most sweeping makeovers in the company’s 125-year history. Chief Executive Officer John Flannery is seeking deep cost reductions, weighing portfolio changes and reshaping management from top ...

Bloomberg Accor SA, Europe’s biggest hotel operator, offered to buy Australia’s Mantra Group Ltd. in a deal valuing the hotel and resort company at $930 million. The French company offered A$3.96 per share in cash for Mantra and was given access to its books, the target said in a statement on Monday. Mantra shares jumped by a record 18 percent ...

Bloomberg From the 300-plus crystal chandeliers to the gold-plated taps in the bathrooms, Donald Trump has transformed a hotel overlooking one of the world’s most legendary golf courses into an eponymous glittering palace. Members gathering for their tee times say they love many of the changes at the Trump Turnberry resort in Scotland, but they doubt the president will ever ...

Bloomberg Telkom SA SOC Ltd., South Africa’s largest landline operator, won’t award any new business to KPMG LLP’s local unit pending the outcome of an investigation into the firm by the country’s accountancy body. Any contracts underway with the auditor and consulting firm will be completed and their expiration dates will stand, the Pretoria-based company said in an email to ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, visited GITEX Technology Week which kicked-off on Sunday at the Dubai World Trade Centre (DWTC). His Highness Sheikh Mohammed toured the exhibition and was briefed on the world’s latest technologies that are being showcased by the biggest technology ...

ABU DHABI / WAM The UAE banking system has been ranked the top banking sector in the Gulf region in terms of assets in the first half of 2017, while the total assets of the 48 banks operating in the country reached US$723 billion (AED2.66 trillion) for the year 2016. Experts in the sector said the continued stability of the ...

DUBAI / Emirates Business HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group opened the ‘AVSEC Global 2017’ international aviation security symposium in Dubai. Sir Tim Clark, President, Emirates airline delivered opening address. Other keynote speakers included Lord Callanan, UK minister for aviation as well as K C Singh, Former Indian Ambassador to the ...