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Bloomberg Sri Lankan President Maithripala Sirisena suspended parliament, deepening a power struggle that has led to the return of former strong-man president Mahinda Rajapaksa and could herald closer ties with China. On Friday evening, Sirisena unexpectedly dismissed Prime Minister Ranil Wickremesinghe and appointed Rajapaksa—who ruled between 2005 and 2015—as his replacement. Wickremesinghe is contesting his removal and is likely to ...

Bloomberg China and Japan capped a restoration of ties with agreements on everything from currency swaps to ocean rescue, a thaw that comes as President Donald Trump seeks better trade terms with both nations. Shinzo Abe became the first Japanese prime minister to pay an official visit to China in seven years, as Asia’s two largest economies sought to play ...

Bloomberg Lured by the sharp slump in rupee against the dollar, Indians living overseas may boost remittances to a record, helping bolster the nation’s efforts to support Asia’s worst-performing major currency. The country is expected to receive remittances of about $76 billion in 2018, 10 percent more than in the previous year, according to estimates by EbixCash, the financial exchange ...

Bloomberg Qualcomm Inc. is trying to steer a big chuck of its billion-dollar dispute with Apple Inc. over the use of fundamental technology for mobile phones away from what it sees as a sideshow over patents. At a hearing, Qualcomm asked a federal judge in San Diego to throw out as moot all claims by Apple related to nine “handpicked” ...

Bloomberg Consumers drove the US economy to better-than-expected growth in the third quarter, but a steep slowdown in business spending raised concerns about whether the strength in the expansion is sustainable. The 3.5 percent annualised gain in gross domestic product, following 4.2 percent, marked the best back-to-back quarters since 2014, according to Commerce Department report. The rise in consumer spending, ...

Bloomberg Twitter Inc. topped estimates for earnings and revenue in the third quarter amid higher spending from advertisers, marking a much-needed boost for the social-networking site after months of scrutiny from lawmakers and criticism about fake or offensive accounts. The shares rose in early trading. Monthly active users averaged 326 million, San Francisco-based Twitter said in a statement. That’s a ...

Sharjah / Emirates Business The third edition of ‘Investing in Future’ (IIFMENA) conference has got off to an impactful start on Wednesday with comments from His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah; Her Highness Sheikha Jawaher bint Mohammed Al Qasimi, Chairperson of The Big Heart Foundation (TBHF); Mariam Al Hammadi, Director ...

Dubai / WAM His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, on Wednesday attended the opening of the fifth edition of the World Green Economy Summit (WGES 2018). The Summit, held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai, will run ...

Dubai / Emirates Business Regional trade enabler DP World, UAE region unveil five clean energy initiatives at the Water, Energy, Technology, and Environment Exhibition (Wetex) week, the Middle East’s leading trade show for the energy, water, and sustainability industries. Renewable energy such as solar, waste recycling, and the development of a zero emission supply chain management across its regional and ...

Dubai / WAM Consulate General of the Netherlands in Dubai, on behalf of the Dutch Economic Network in the Gulf region, launched its new multiyear campaign: Dutch Connection in the Gulf – Uniting Water, Energy, Food, at Wetex 2018 in Dubai. The initiative was launched during ‘the Dutch Hour’, in the presence of Mariam Hareb Almheiri, Minister of State for ...