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  Bloomberg Australia’s overheated property market has spurred one of the nation’s top-performing fixed income money managers to cut some of its real estate debt investments to the lowest level since the 2007 financial crisis. Vivek Prabhu, the Sydney-based head of fixed income at Perpetual Ltd., is making the move as he braces for potential blow-ups in the nation’s A$7.6 ...

  Bloomberg President-elect Donald Trump’s pick to lead the US Food and Drug Administration should have a medical background, and the agency should continue evaluating new medications’ effectiveness, drugmaker executives said in comments indicating opposition to two candidates for the regulator’s top post. Trump’s FDA chief should be a doctor or physician-scientist with experience in clinical care and medical research, ...

  Bloomberg Rolls-Royce Holdings Plc won approval from a UK judge for its settlement with British prosecutors as the US Justice Department unsealed a parallel agreement with the company in Ohio the day after the company announced it would pay $800 million in total to resolve bribery probes in both countries as well as Brazil. In London, Judge Brian Leveson ...

  BAGHDAD / AP US-backed Iraqi government troops announced on Wednesday they were in “full control” of eastern Mosul after routing IS militants from that part of the northern city, three months since the major operation started. The achievement was a “big victory,” said Iraqi Army Lt. Gen. Talib Shaghati, who commands the counter-terrorism forces, describing the success of the Iraqi ...

  Bloomberg Qualcomm Inc. forced Apple Inc. to use its chips exclusively in return for lower licensing fees, unfairly cutting out competitors, the US said in a lawsuit against the biggest maker of mobile phone chips. Qualcomm’s exclusive deal with Apple was detailed in a Federal Trade Commission lawsuit accusing the chipmaker of illegally maintaining a monopoly for semiconductors used ...

  Bloomberg Iceland, the world’s tiniest developed economy, is now pondering whether it has the might to take on the currency markets. The center-right coalition that took office this month wants an overhaul of Iceland’s monetary policy framework, which could lead to fixing the currency or letting it trade within a band, Finance Minister Benedikt Johannesson, 61, said. The review ...

  Abu Dhabi / WAM Masdar, Abu Dhabi’s renewable energy company, has acquired a stake in Hywind Scotland, a 30-megawatt (MW) floating offshore pilot wind farm in the North Sea. Dr Sultan Al Jaber, UAE Minister of State and Chairman of Masdar; Dr Thani Al-Zeyoudi, Minister of Climate Change and Environment; Tone Skogen, State Secretary in the Ministry of Foreign Affairs, ...

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of UAE and Ruler of Dubai, welcomed separately Horacio Cartes, President of Paraguay, Filip Vujanovic, President of Montenegro, and Luis Guillermo Solis, President of Costa Rica, at his palace in Zabeel on Tuesday. His Highness Sheikh Mohammed bin Rashid, along with HH Sheikh Hamdan bin Mohammed ...

  Istanbul / AP Turkish police captured the gunman who carried out the deadly New Year’s nightclub attack in Istanbul, with officials saying on Tuesday that he’s an Uzbekistan national who trained in Afghanistan and confessed to the massacre. The man was being questioned by police, Prime Minister Binali Yildirim told reporters in Ankara. Yildirim expressed hope that the interrogation would ...

  Abu Dhabi / Emirates Business The Masdar Institute of Science and Technology (MIST), an independent, research-driven graduate-level university focused on advanced energy, and sustainable technologies, and the Korea University on Tuesday signed a research collaboration agreement to develop energy-efficient desalination technologies. The research project aims to confirm the viability of large-scale production of desalinated water from a plant fully ...