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Bloomberg The resignation of Vishal Sikka as chief executive officer of India’s bellwether technology company masks the rot in India’s once feted export sector. While Sikka cited heightened acrimony with a cohort of founders at Infosys Ltd., the malaise is much deeper, and threatens to become a faultline for Asia’s No. 3 economy. Software services exports are experiencing their longest ...

Bloomberg Asian emerging market currencies have been having their best year since before the 2013 taper tantrum, bolstered by pace-setting growth rates and attractive yields. But the Philippine peso has been left out of the party—ironically after it held up better than peers including Indonesia’s rupiah back in 2013. Unless things change, it’ll be a fifth straight year of declines ...

BAGHDAD / ERBIL / Reuters Iraqi security forces launched an offensive to take back the city of Tal Afar on Sunday, their next objective in the US-backed campaign to defeat IS militants, Prime Minister Haider al-Abadi said. “You either surrender, or die,” Abadi said in a televised speech announcing the offensive, addressing the militants. A longtime stronghold of hardline Sunni ...

FUJAIRAH / WAM The newly established Fujairah Terminals, under the management of Abu Dhabi Ports, welcomed its first container feeder vessel, the Dubai Alliance. This is the first ship to arrive at the terminal, which is wholly owned by Abu Dhabi Ports, the master developer, operator and manager of commercial and community ports within the emirate of Abu Dhabi, Fujairah ...

DUBAI / Emirates Business The GCC projects market had a muted performance in the first half of 2017, but is expected to perform better in the second six months of the year as the region’s economies continue to adjust to lower oil prices. According to the latest data from MEED Projects, the region’s leading projects tracking and analysis service, $56bn ...

MUSCAT / WAM Abu Dhabi’s renewable energy company (Masdar) signed an Engineering, Procurement and Construction (EPC) contract with a global consortium comprising GE and Spain’s TSK to build the Dhofar Wind Power Project, the first large-scale wind farm in Oman and the GCC. The Dhofar Wind Power Project is a result of the joint development agreement that was established in ...

Dubai / Emirates Business As much as $55.2bn worth of healthcare projects are in the pipeline in the Middle East and North Africa (MENA) region in 2017, with major new developments expected to be annou- nced at the forthcoming Build- ing Healthcare Innovation & Design Show. According to the latest industry estimates, a total of 37 mega hospital projects are ...

­­­­­­­­­­­Bloomberg Wal-Mart Stores Inc., racing to fend off Amazon.com Inc. and a fresh attack from European grocery discounters, gave a lukewarm earnings forecast for the third quarter, a sign that heavy spending aimed at maintaining its edge is taking a toll. The shares slid recently after the retail giant said that profit will be 90 cents to 98 cents a ...

Bloomberg Uber Technologies Inc.’s co-founder Travis Kalanick fired back at investor Benchmark, saying its lawsuit seeking to oust him from the ride-hailing company’s board is based on “a fabrication” and accused the firm of threats and intimidation. Upping the ante on his fight with the venture capital firm, which holds a 13 percent stake in Uber, Kalanick said that Benchmark ...

­­­­­­­­­­­Bloomberg The UK is preparing to give further details of its approach to Brexit next week when it lays out positions in at least three different areas that it wants to negotiate with the European Union. Prime Minister Theresa May’s government will publish two papers on Monday with more expected in the following days, as Britain and the EU gear ...