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Dubai / Emirates Business Cityland Group on Tuesday announced a major financing milestone for the $330 million flagship retail project — Cityland Mall — from a consortium of banks consisting of Emirates NBD as the lead bank and Burgan Bank from Kuwait. The loan, which totals $142.74 (AED524mn) million in value, will be utilized for covering the ongoing project cost ...

Bloomberg India’s economy is struggling to recover its strong growth record, beset by record low inflation, a widening output gap, and short term uncertainty from the introduction of a uniform sales tax. That will build pressure on the Reserve Bank of India to jettison its neutral monetary policy bias adopted just five months ago, setting the scene for lowering interest ...

Bloomberg China is stepping up its scrutiny of online and mobile games, as the leading government-owned newspaper blasted Tencent Holdings Ltd.’s top-grossing Honour of Kings for harming children in the pursuit of profit. The People’s Daily criticized Tencent’s most profitable smartphone title in an editorial, citing it as an example of how addictive games spread “negative energy” and have even ...

Bloomberg A landmark medical trial involving Alphabet Inc.’s DeepMind artificial intelligence division violated British data protection laws, the UK’s top privacy watchdog ruled. The Information Commissioner’s Office said that the National Health Service hospital that conducted the trial with DeepMind improperly shared 1.6 million patient records with the tech company, failing to inform patients that their data would be used ...

Bloomberg June US sales show automakers are still selling lots of expensive trucks and sport utility vehicles, a bright spot that’s rescuing profitability in a market forecast to decline from last year’s record sales. Deliveries of Toyota Motor Corp.’s RAV4 spiked 25 percent, while Honda Motor Co.’s HR-V saw a 35 percent gain, according to Autodata Corp. Toyota, Honda and ...

Reuters­­­­ / Bloomberg United Arab Emirates foreign minister His Highness Sheikh Abdullah bin Zayed Al Nahyan said on Tuesday that Arab countries boycotting Qatar over its support for terrorism were still awaiting a response to their demands via mediator Kuwait. Saudi Arabia, the UAE, Bahrain and Egypt are pressing Qatar to shut its Al Jazeera news TV station and scale ...

Bloomberg Chinese President Xi Jinping called for closer cooperation with Germany in shaping the global order, marking out Chancellor Angela Merkel as an ally on free trade at this week’s Group of 20 summit. “The strategic character of Chinese-German relations is steadily gaining in importance,” Xi said in an op-ed article published on Tuesday in German newspaper Die Welt, citing ...

Abu Dhabi / Emirates Business The Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (Qianhai Authority) and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) entered into a new partnership to further develop and promote closer investment and financial innovation opportunities and collaborations for enterprises in Qianhai, Hong Kong and Abu Dhabi. In support ...

Abu Dhabi / WAM The Abu Dhabi Education Council (ADEC) and Emirates Transport have launched ‘Hafilaty’, an app that enables parents to track their children to and from school, as part of their efforts to enhance safety in school buses. Mohammed Salem Al Dhaheri, Executive Director of the School Operations Sector in ADEC, said that this project is being implemented within ...

STORD / WAM Masdar announced that a milestone has been reached in the development of the world’s first commercial scale floating wind farm, which on completion will be sited off the coast of Aberdeenshire, Scotland. According to a press statement, all five wind turbines, each with a capacity of six megawatts, have been mated onto a floating substructure in Stord, ...