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AMMAN / Reuters Jordan will open its main border crossing with Iraq on Wednesday for the first time since 2015, now that Iraqi forces have gained control of the main highway to Baghdad from IS militants, both governments said. Iraqi troops pulled out of the Tureibil post, on the 180 km (110 mile) border, in summer 2014 after the militants ...

BEIRUT / Reuters Lebanon has begun reforms to repair its fragile economy after years of paralysis in decision-making but is under pressure to do more to prevent its rising debt spinning out of control. President Michel Aoun, elected last year after 29 months without a head of state, signed off last week on public sector pay rises and tax increases ...

Bloomberg Fresh from winning its biggest defense contract in May, Larsen & Toubro Ltd. is planning to bid for $28 billion of orders including warships and submarines in India as Prime Minister Narendra Modi breaks with tradition to embrace private, local suppliers. India’s new defense purchase policy that allows non-state local firms to compete for orders from the military is ...

Bloomberg Alibaba Executive Vice Chairman Joe Tsai has bought the National Lacrosse League’s expansion team in San Diego, bringing another billionaire owner to a league with plans to add franchises and expand its digital footprint. Tsai, who has a net worth of $11.4 billion, paid about $5 million for the yet-to-be-named franchise, according to a person with knowledge of the ...

Bloomberg Toyota Motor Corp. is pushing deeper into the ride-sharing business. Toyota Tsusho Corp., the automaker’s trading arm, will invest an undisclosed amount in Grab, Southeast Asia’s leading ride-hailing operator. Toyota Motor said it will work with Grab to provide services in the region, a year after the carmaker bought a small stake in Uber Technologies Inc. as it explores ...

Bloomberg China’s State Administration for Industry and Commerce is reviewing an antitrust complaint accusing Apple Inc. of abusing its dominant position in smartphone applications, people familiar with the matter said. The regulator is studying the information following a complaint filed on behalf of developers before deciding if a formal investigation is necessary, said the people, who asked not to be ...

Bloomberg Streets in Mumbai, India’s financial capital, were relatively empty while trading volumes in stock and bond markets dropped as residents stayed home following the worst downpour in 12 years. The city’s Santacruz weather center recorded 33.1 centimetres of rain in 24 hours that ended at 8:30 am on Wednesday, the most since 94.4 centimeters of precipitation recorded 12 years ...

Dubai / WAM Profitability at the four largest UAE banks will remain solid in the next 12 to 18 months underpinned by solid interest income, despite pressure on fee and commission income, says Moody’s Investors Service in a new report. The four banks, First Abu Dhabi Bank PJSC (FAB), Emirates NBD PJSC (ENBD), Abu Dhabi Commercial Bank (ADCB) and Dubai ...

DUBAI / WAM The UAE is seeking to join the Board of the International Maritime Organisation (IMO) as a “Category B” member, which is supported by its leading ranking on the map of international ports, as the first placed country on a regional and Arab level and third on an international level, in terms of the quality of the infrastructure ...

ABU DHABI / WAM The UAE, represented by a senior delegation, will participate in the China-Arab States Expo 2017 that will take place from September 6-8 in Yinchuan, capital city of Ning-xia Province in northwest China. The Ministry of Economy held a coordination meeting at its headquarters in Abu Dhabi, which included the delegation that will participate in the expo, ...