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Bloomberg India is poised to reject Shanghai Fosun Pharmaceutical Group Co.’s proposed $1.3 billion takeover of an Indian drugmaker, according to people familiar with the matter, scuppering the biggest-ever Chinese acquisition in the country. The Cabinet Committee on Economic Affairs, which is chaired by Prime Minister Narendra Modi, has decided to block the Chinese firm’s purchase of an 86 percent ...

Bloomberg Andy Marsh sees his future — and it’s forklifts. His tiny company, Plug Power Inc., makes hydrogen fuel cells, and for years he struggled to find customers. No longer. In April, Amazon.com Inc. agreed to try out the technology in forklift fleets at 10 of its warehouses. And in July, Wal-Mart Stores Inc. matched Amazon’s $600 million deal with ...

Bloomberg Spotify Ltd. is tiptoeing into new businesses again. The No. 1 paid music streaming service has agreed to promote podcasts in its app and via ads on buses. In return, the hosts of “Reply All,” “Pod Save America” and “The Bill Simmons Podcast” agreed to talk up Spotify on social media and during their shows that cover topics ranging ...

DUBAI / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum met with His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Sunday at the headquarters of the Abu Dhabi National Oil Company (ADNOC). Their ...

MANAMA / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has confirmed that the four countries boycotting the State of Qatar take the country’s people into consideration before taking any step towards resolving the Qatari crisis. Sheikh Abdullah made the remarks during a joint press conference held in Manama with the foreign ...

DUBAI / Emirates Business The total value of 481 active transport projects exceeded AED 321.49 billion ($87.6 billion) in the first half of 2017, according to BNC Network, – the largest and most comprehensive construction intelligence service in the Middle East and North Africa (MENA) region. Of these, 364 projects with a combined value of $36.5 billion are road projects ...

Dubai / Emirates Business Dubai Land Department (DLD) has released its H1 2017 Transactions Report up until June 30, through the Real Estate Research and Studies Department, announcing that total real estate transactions for this period reached a value of AED 132 billion, achieved through 35,571 sales, mortgages and other transactions. The report reveals that the market has achieved a ...

Bloomberg Three hundred ten. That’s the electric range of a $44,000 version of Tesla’s Model 3, unveiled in its final form on July 28 night. It’s a jaw-dropping new benchmark for cheap range in an electric car, and it’s just one of several surprises Tesla had in store as it handed over the keys to its first 30 customers. Tesla ...

Bloomberg AT&T Inc. named three new divisional chiefs to lead the company when its $85.4 billion takeover of Time Warner Inc. closes later this year. As reported earlier by Bloomberg News, John Stankey, who ran AT&T’s DirecTV division, will supervise integration planning for the merger and lead the Time Warner businesses after the deal closes, the company said. John Donovan, ...

Bloomberg China is betting that US President Donald Trump won’t make good on his threats of a military strike against North Korea, with Beijing continuing to provide a lifeline to Kim Jong Un’s regime. Secretary of State Rex Tillerson singled out China and Russia as “economic enablers” of North Korea after Kim on Friday test-fired an intercontinental ballistic missile for ...