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  Reuters Freed from a layer of fusty bureaucracy, India’s state refiners are helping the country evolve an oil market that reflects its status as both the world’s fastest growing major economy and oil consumer. Changes to import rules mean officials from India’s state-owned oil refiners no longer have to stand in the corridors of the Oil Ministry waiting for ...

  ABU DHABI / WAM The Abu Dhabi Investment Authority (ADIA) on Thursday announced the opening of an office in Hong Kong, marking its first on-the-ground presence in the territory. It also announced the appointment of Dong-Sinh Ngo as Chief Representative, Asia Pacific, based in Hong Kong. ADIA Hong Kong will act as a platform for ADIA to broaden and ...

  Dubai / Emirates Business As travellers around the globe look to escape the winter cold for sun-filled holidays, Dubai Cruise Tourism has this month announced the official start of the 2016/2017 season. Following a successful 2015/2016 run, which saw passenger numbers grow by 19 per cent and ship calls increase by 24 per cent compared to the previous year, ...

  Dubai / Emirates Business Trade ties between the UAE and China received a significant boost today with the signing of a landmark cooperation agreement between two of the countries’ key commercial courts. The Shanghai High People’s Court, the foremost business court in the commercial and financial centre of mainland China, and the DIFC Courts have agreed to work together ...

  Abu Dhabi / Emirates Business Etihad Airways on Thursday announced the expansion of scheduled services between Abu Dhabi and India as strategic partner Jet Airways unveiled new routes and additional frequencies to further strengthen their partnership in one of the world’s fastest growing aviation markets. From early 2017, the two airlines will expand their services between the United Arab ...

  Bloomberg The UK economy slowed less than economists forecast in the quarter after the Brexit vote because of a surge in services, providing ammunition for critics of those who warned of a possible fallout before the referendum. The 0.5 percent expansion was better than the 0.3 percent median forecast of economists in a Bloomberg survey. Services surged 0.8 percent, ...

  Brussels/ AFP Belgium announced on Thursday a breakthrough in talks to secure a landmark EU-Canada trade deal by winning over the leaders of a recalcitrant Belgian region, potentially snapping a deadlock which threatened European credibility anew. However, the announcement came too late for EU leaders and Canadian Prime Minister Justin Trudeau to go ahead with a signing ceremony in ...

  Calais / AFP Dozens of migrants, including children, were left wandering on Thursday through France’s “Jungle” camp after sleeping rough on the edges of the burnt-out Calais settlement. Excavators began tearing down remaining shelters a day after the official operation to clear the camp came to a dramatic end, with fires started by departing migrants ripping through the shanty ...

  AFP Samsung Electronics on Thursday reported an expected 30 percent profit plunge on the back of a highly damaging recall crisis that hammered the reputation of the world’s largest smartphone maker. The third quarter earnings were announced just hours before the start of an annual shareholder meeting which was set to approve the latest step in a complex generational ...

  Bloomberg New Zealand has overtaken Singapore as the best country in the world to do business, according to the World Bank. Singapore slipped to second in the bank’s 2017 “ Doing Business” report after topping the ranking for a decade. Finland dropped out of the top 10, falling to 13th. Macedonia, which placed 92nd a decade ago, improved two ...