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Mohammed meets chairmen of General Atomics and Raytheon

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, separately received Neal Blue, Chairman of General Atomics, and Thomas Kennedy, Chairman and Chief Executive Officer of the Raytheon Defence Company, at Al Shati Palace on Saturday. The two major United States (US) defence ...

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IDEX conference tackles disruptive innovation in defence and security

  Abu Dhabi / Emirates Business IDEX Conference 2017, part of the 13th edition of the International Defence Exhibition and Conference (IDEX 2017) and the fourth edition of the Naval Defence Exhibition (NAVDEX 2017) commenced on Sunday at the National Archives headquarters in Abu Dhabi. The event attracted national and international defence policy makers and experts engaging in a lively ...

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Pence tells European allies US ‘will hold Russia accountable’

  MUNICH / AP Vice President Mike Pence vowed on Saturday that the United States will “hold Russia accountable” even as President Donald Trump searches for new common ground with Moscow at the start of his presidency. Pence, in an address to the Munich Security Conference, also offered assurances to European allies that the US “strongly supports” NATO. He said ...

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Etihad Rail transported 10mn tonnes of sulphur

  Abu Dhabi / Emirates Business Etihad Rail, the developer and operator of the UAE’s multi-billion dollar fully integrated national railway network, has since commencing Stage One operations, transported 10 million tonnes of granulated sulphur for the Abu Dhabi National Oil Company (ADNOC) as of February 10, from sources at Shah and Habshan to its point of export at Ruwais. ...

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Unilever remains cool to Kraft Heinz takeover bid despite rally

  Bloomberg As the clock ticks toward a takeover deadline, Kraft Heinz Co. faces an uphill battle getting Unilever to negotiate. Publicly, the company has decried Kraft’s $143 billion buyout offer as lacking merit and said there was no basis for further talks. Behind the scenes, Unilever executives have fretted over Kraft’s penchant for slashing costs and lack of vision ...

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US probes possible abuse of ‘kill switches’

  Bloomberg A US regulator is looking at whether auto finance companies that use sophisticated technology like ignition kill switches are illegally harassing subprime borrowers that have fallen behind on their payments. The Federal Trade Commission, a consumer protection agency, has asked for information from at least two lenders, according to securities offering documents from both companies this month obtained ...

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Toshiba memory-chip unit ‘not an easy sell’

  Bloomberg Toshiba Corp., seeking to make up for a huge writedown in its nuclear-equipment unit, finally took the drastic step of putting its crown jewel — its chip business — up for sale. Finding a buyer might prove to be even more difficult. The Tokyo-based conglomerate had been entertaining offers for a minor stake in the flash-memory operations, until ...

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S’pore economy expands at fastest pace in five years

  Bloomberg Singapore’s economy grew at its fastest pace in more than five years in the fourth quarter, driven by a surge in manufacturing as export demand recovered. Gross domestic product rose an annualized 12.3 percent in the three months to December from the previous quarter, rebounding from a contraction of 0.4 percent, the trade ministry said in a statement. ...

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Singapore, Hong Kong restart dual-class push to snag IPOs

  Bloomberg Hong Kong and Singapore are at it again. The Asian financial hub rivals are reviving a debate on dual-class shares as global competition for the hottest initial public offerings intensifies. Singapore is a few steps ahead. Prime Minister Lee Hsien Loong last week gave his approval to dual-class shares and other measures proposed by a panel to drive ...

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‘India’s growth will rebound after cash ban’

  Bloomberg India’s growth will bounce back after a sharp slowdown triggered by Prime Minister Narendra Modi’s clampdown on cash, said central bank Governor Urjit Patel. “Almost everyone agrees that the impact is going to be a sharp ‘V,’ that we would have a downgrade of growth for a short period of time,” Patel told CNBC-TV18 in an interview telecast ...

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