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Abertis to buy Italian highways for $677 million in growth drive

  Bloomberg AbertisInfraestructuras SA agreed to pay €594 million ($677 million) to buy control of two Italian highways as the Spanish toll-road operator presses ahead with its international expansion plan. Abertis reached an accord with IntesaSanpaoloSpA, AstaldiSpA and the Tabacchi family to buy the two companies that control 51 percent of A4 Holding, which owns the A4 Brescia-Padova and A31 ...

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Banks see softer side of Brussels as EU readies rule revamp

  Bloomberg After years of aggressive regulation reining them in, Europe’s banks are starting to get some slack from the policy makers in Brussels. The European Union has opened up the entire financial rule book for review, including contentious issues such as the cap on bankers’ bonuses. Faced with weak banks and an anemic economy, regulators have made clear that ...

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Aviation looks to tech-driven makeover

  Ritika Sharma / Emirates Business E-trolleys, inventive biometrics, smart baggage movement and cloud based e-bookings — the future of airports seems really exciting. With more and more technology-inspired solutions and services being rolled out every day, experts believe the industry is moving towards a huge transformation. Passenger comfort and luxury are set to define the aviation industry as technologies ...

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Golden hues of Islamic art shine bright at auto expo

  Sunaina Rana / Emirates Business A $1 million unique metal-painted car stole the limelight at the 14 Edition of Automechanika Dubai 2016. The Nissan R35 GT-R sports vehicle named ‘Godzilla’ — showcased by ace tuners — was specially designed for Middle East consumers, with Islamic artwork of vine and leaves engraved on its bodywork. Michael Dehn, Group Exhibitions Director, ...

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Nissan Patrol Nismo all set to roll out on UAE roads

  Sunaina Rana / Emirates Business A new exciting range of series of Nissan Patrol Nismo, with a blend of motorsports and concentrated power in the spirit of SUV, is all set to rule the UAE roads. Arabian Automobiles — the exclusive dealer for Nissan in Dubai and the Northern Emirates — has recently announced that the much-anticipated vehicle would ...

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GCC luxury sector shows resilience amid uncertainty

  Dubai / Emirates Business The region’s luxury sector is continuing to demonstrate resilience in spite of economic challenges, driven by investor recognition of many opportunities the current market landscape presents, UAE industry experts said. Record-low oil prices have had a ripple effect on global economies, however with growing private wealth in the GCC – reaching a cumulative USD 2.2 ...

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UAE auto firms give pat on the back for safety

  RITIKA SHARMA / Emirates Business There is a dire need of educating and motivating people to make sure they keep their safety as prime concern while driving, UAE experts emphasise. On the same lines, various technology and automobile companies in UAE are trying out innovative ideas like discounts on their rides for encouraging people to abide by the traffic ...

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Stubborn natural gas supply imperils best US rally in 14 years

  Bloomberg Natural gas futures have soared since March on speculation that supplies are finally falling after a decade of gains. Production numbers tell a different story. Prices have gained 28 percent from a 17-year low in March, the biggest advance for the period since 2002, as investors including Greenlight Capital’s David Einhorn bet the market would put a dent ...

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Mexico consumer prices decline more than forecast in April

  Bloomberg Mexico’s consumer prices dropped more than forecast in April as electricity and food prices tumbled, keeping the annual inflation rate below the central bank’s target. Prices decreased 0.32 percent from a month earlier, the national statistics institute said on its website. The median forecast of 20 analysts surveyed by Bloomberg was for a decline of 0.25 percent. From ...

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Brazilian market at the mercy of politics

  Bloomberg For about a half hour, it looked like Brazil’s world-beating rallies were coming undone. A few minutes before noon on a relatively calm trading day in Sao Paulo, the real suddenly plummeted by the most in four years and $16.5 billion was wiped off the value of the benchmark stock index. Within 30 minutes, both markets had mostly ...

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