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Bloomberg Activity in India’s dominant services sector grew at its fastest pace in six months in December, buoyed by fresh business orders and signaling optimism about Asia’s third-largest economy. The S&P Global India Services Purchasing Managers Index rose to 58.5 last month from 56.4 in November 2022, data showed. Helped by a strong performance in the manufacturing sector, the composite ...

  Bloomberg Despite being the birthplace of the humble rice cooker, a decline in appetites for the grain and cost savings to be found elsewhere are prompting Panasonic Holdings Corp to end production in Japan. Instead, the Osaka-based manufacturer will transfer production to the eastern Chinese city of Hangzhou by June 2023, according to media reports. The move by Panasonic, ...

  Bloomberg Byju Raveendran, the founder of the world’s most valuable edtech startup Byju’s, is in financing talks to lift his stake in the company to as high as 40%, people familiar with the matter said. The former teacher is seeking funding to finance the stake repurchases — which could amount to as much as 15% of the firm — ...

  Bloomberg An Indian appeals court refused to grant immediate relief to Alphabet Inc’s Google over a $162 million antitrust fine for abusing the dominant position of its Android smartphone operating system in the country. The National Company Law Appellate Tribunal asked the US tech giant to deposit 10% of the penalty after admitting its appeal against the Competition Commission ...

  Bloomberg Chinese bureaucrats are discussing plans to resume some imports of Australian coal after a more than two-year ban as relations between the nations improve. The National Development and Reform Commission (NDRC) held talks on proposals to allow four major importers — China Baowu Steel Group Corp, China Datang Corp, China Huaneng Group Co and China Energy Investment Corp ...

  Abu Dhabi / WAM The UAE on Tuesday strongly condemned the storming of Al-Aqsa Mosque courtyard by an Israeli minister under the protection of Israeli forces. In a statement, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) reiterated its firm position on the need to provide full protection for Al-Aqsa Mosque and halt serious and provocative violations taking ...

  Dubai / WAM Ducab Group—one of the UAE’s largest industrial manufacturing businesses—is supplying 633 kilometres of medium voltage and earthing cable to a new Egyptian 70-turbine windfarm in a move that reinforces the strong industrial partnership between the UAE and Egypt. The Gulf of Suez project, for Egypt’s New and Renewable Energy Authority will play a key role in ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan on Tuesday issued a Federal Decree appointing Staff Lieutenant General Engineer Issa Saif Mohammed Al Mazrouei as Chief of Staff of the UAE Armed Forces, at the rank of minister. The Decree shall be published in the Official Gazette and come into force on the date ...

  Abu Dhabi / WAM Abu Dhabi Sustainability Week (ADSW), the global initiative championed by the UAE and its clean energy powerhouse Masdar to accelerate sustainable development, will hold its first annual Green Hydrogen Summit this year, highlighting green hydrogen’s growing importance in the global drive toward net zero. The Green Hydrogen Summit 2023, taking place on January 18, will ...

  Bloomberg Oil declined under pressure from a stronger dollar, even as traders weighed the outlook for China as the world’s largest crude importer reopens its economy. West Texas Intermediate futures dropped as much as 1.8% to below $79 a barrel, reversing earlier gains. Global benchmark Brent also fell. The dollar rallied as much as 0.9%, making commodities priced in ...