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Bloomberg Prime Minister Narendra Modi’s administration hasn’t assessed the impact of one of history’s most sweeping changes in currency policy. “No Madam,” was the Indian junior finance minister’s reply to a lawmaker’s question in parliament on December 14 on whether the government had studied the aftereffects of the move in November 2016 to invalidate almost all of the country’s currency ...

Bloomberg The total value of fines handed out by the UK’s Financial Conduct Authority fell by almost 75 percent in 2018, after a bumper year in which it had secured penalties against the likes of Deutsche Bank AG, Merrill Lynch International and Rio Tinto Plc. The regulator handed out 60.5 million pounds ($76.6 million) in fines in 2018, more than ...

Bloomberg Acorda Therapeutics Inc rose the most since October after the US Food and Drug Administration approved its therapy for Parkinson’s disease. The drug, which will be sold under the name Inbrija, is an inhaled version of levodopa, an existing therapy that treats the effects of the neurodegenerative disorder. Acorda declined to say how it plans to price the product, ...

Bloomberg Alcoa Corp will further curtail production at a Canadian smelter as the biggest US aluminum producer faces a shortage of workers amid a dispute with unionised workers and the impact of US tariffs on shipments of the metal. The Pittsburgh-based company said it will curtail half of the one operating potline’s 138,000 metric tonne capacity at its majority-owned Aluminerie ...

Bloomberg As the partial US government shutdown enters a third day, lawmakers have left Washington for the Christmas holiday with no sign of urgency to resolve the fight over President Donald Trump’s demand for border wall money. Unlike shutdowns of the past, Congress and the White House aren’t racing to reopen the government. Offices of congressional leaders who are responsible ...

Dubai / Emirates Business Enhancing bilateral trade and investment opportunities between the UAE and Azerbaijan was the topic under discussion at the Annual Networking Reception hosted at Dubai Chamber’s representative office in Baku. More than 200 representatives from the UAE and Azerbaijan public and private sectors attended the event, which was held in Baku. The annual gathering marks a significant ...

ABU DHABI / WAM The Registration Authority of Abu Dhabi Global Market (ADGM), and the Ministry of Economy have agreed to foster cooperation and coordination with respect to the registration and supervision of auditors with the aim of promoting high standards of financial audits in the UAE. To this effect, an MoU was signed by Dhaher bin Dhaher Al Mheiri, ...

Dubai / WAM The Dubai Electricity and Water Authority (Dewa), has signed a memorandum of understanding (MoU), with Whizkey Future labs, a start-up company, to develop innovative and futuristic solutions to disrupt the current electricity and water utility business models. This will be done using Fourth Industrial Revolution technologies such as Artificial Intelligence (AI), blockchain, robotics, and other technologies to improve performance, ...

Abu Dhabi / WAM The Abu Dhabi General Services Company, Musanada, has affirmed that it remains fully committed to the installation of advanced safety sensing systems across buildings and housing projects constructed by the company in Abu Dhabi, Al Ain and Al Dhafrah, including the fire detection devices (gas, smoke, heat and flame detectors) equipped with state-of-the-art smart technologies. The ...

Bloomberg BMW AG is facing a criminal probe in South Korea after investigators concluded the manufacturer concealed fire hazards and delayed recalls for a problem that has dented sales and its reputation in the Asian country. South Korea’s transport ministry plans to ask prosecutors to investigate the German carmaker, the ministry said in a statement on Monday. Korea also fined ...