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Money outflow curbs worry China’s foreign investors

  Bloomberg China’s doors to foreign investors may be opening ever wider, but that’s not enough for many worried about finding an exit. Fourteen months after qualifying for official reserve-currency status, and after a series of steps opening up domestic markets to overseas funds, the take-up remains below estimates. For all China’s attraction as the second-largest economy with large and ...

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Hyundai merchant sees more losses on shipping industry glut

  Bloomberg Hyundai Merchant Marine Co., South Korea’s biggest sea carrier, said it will post losses through the first half of 2018 as the container-shipping industry attempts to recover from Hanjin Shipping Co.’s bankruptcy and years of excess capacity. As a hedge against adverse conditions plaguing shipping, Hyundai Merchant has initiated talks to invest in box terminals in Southeast Asia, ...

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Harvard’s record $1.2bn haul erased by investment losses

  Bloomberg Harvard University raised $1.2 billion from donations, a record for the world’s richest college. The haul was erased by $2 billion in investment losses and spending. Harvard’s take was the most by any US university as colleges collected an unprecedented $41 billion in fiscal 2016, the New York-based Council for Aid to Education, which tracks university giving, said ...

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US solar industry employment grows fastets in seven years

  Bloomberg US solar-industry employment in 2016 grew at the fastest pace in at least seven years, with growth in all sectors including manufacturing, sales and installations, as demand for clean power swelled. One out of every 50 new American jobs last year was in the solar industry, which now employs more than 260,000 workers, according to an annual report ...

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Food security tops UAE’s priorities

  Abu Dhabi / WAM The UAE, led by President His Highness Sheikh Khalifa bin Zayed Al Nahyan, places food security at the top of its policy priorities and is proceeding to deliver the highest possible rates for national food security and its sustainability, said His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy ...

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Meet on women’s economic empowerment held in Dubai

  Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, attended on Monday the official opening of the United Nations Secretary-General’s High Level Panel ‘HLP’ meeting on Women’s Economic Empowerment at the Four Seasons Resort, Dubai. Convening for the first time in MENA region, the High Level ...

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Allowing Trump travel ban would ‘unleash chaos again’

  WASHINGTON / AP Lawyers for Washington state and Minnesota have told a federal appellate court that restoring President Donald Trump’s ban on refugees and travelers from seven predominantly Muslim countries would “unleash chaos again.” The filing with the 9th U.S. Circuit Court of Appeals in San Francisco came early Monday after the White House said it expected the federal ...

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ASSENT announces AED175mn expansion at Dubai Industrial Park

  Dubai / Emirates Business Al Shafar Steel Engineering LLC (ASSENT), a leading company in the field of structural steel design and manufacturing and a member of the UAE-based Al Shafar Group of Companies, announced the expansion of its facilities located at Dubai Industrial Park. The expansion, which will result in one of the largest steel manufacturing companies in the ...

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Vodafone-Idea India merger may give rival brands cheap spectrum

  Bloomberg A merger under discussion between Vodafone Group Plc.’s India unit and Idea Cellular Ltd. would create a new leader in one of the world’s most competitive mobile-phone markets. For rivals, there’s a silver lining: bandwidth on the cheap. That’s because a transaction may compel the carriers to shed some spectrum and subscribers to ensure regulatory approval under India’s ...

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Japan workers get wage hike first time in five years

  Bloomberg The wallets of Japan’s workers ended up a bit fatter, with total earnings rising the most since 2010. Total pay rose 0.5 percent from the previous year to an average 3.78 million yen ($33,673), while the number of hours worked dropped. Regular workers saw an increase in pay, while part-timers, who are an increasingly large sector of the ...

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