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BEIJING / Reuters China’s campaign to slim down its bloated industries could be derailed by more than $1.5 trillion of debt in its steel, coal, cement and non-ferrous metal sectors, which threatens to overwhelm local banks. Tackling industrial overcapacity has become a priority for Beijing to make its slowing economy more efficient and address a supply glut that has hammered ...

Bloomberg Some of the biggest shareholders of Deutsche Boerse AG are cautioning management not to overpay for London Stock Exchange Group Plc if a counteroffer emerges, according to people familiar with the matter. Intercontinental Exchange Inc. is contemplating a bid for LSE, which last week agreed to a deal with Frankfurt-based Deutsche Boerse. The German exchange would get 54 percent ...

Brussels / AFP Two suicide bombers who struck Brussels were identified on Wednesday as brothers linked to the prime suspect in the November 13 Paris attacks, as a manhunt for a third assailant in Belgium’s bloodiest terror assault gained pace. A day after the triple blasts that killed some 35 people and left around 250 injured, in an operation claimed ...

Sydney / AFP Australian Prime Minister Malcolm Turnbull said on Wednesday that Europe had “allowed security to slip”, as he questioned the EU’s Schengen passport-free zone in the wake of the Brussels attacks. Turnbull’s comments came as Belgium’s neighbours France, Germany and the Netherlands tightened border security after some 35 people were killed in Belgium’s worst extremist assault. Security at ...

DUBAI / WAM Wholesale and retail trade in the UAE is an important sector, constituting more than 11 percent of the gross domestic product (GDP) of the country and nearly 30 percent of the GDP of the Emirate of Dubai. Hamad Buamim, President and CEO, Dubai Chamber, in a statement to Emirates News Agency (WAM) announced that Dubai will host ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has launched the newest member of MBR Global Initiatives, the largest global initiative for endowments, established a district for endowment projects and announced the Mohammed bin Rashid Global Centre for Endowment Consultancy (MBRGCEC). The Centre will provide free of ...

Abu Dhabi / WAM The Petroleum Institute and a delegation from the US Embassy in Abu Dhabi have reviewed means of collaboration between the Embassy and the Ebtikar PI Senior Design Showcase and Competition, which is scheduled for April. Dr. Murray Ross Gray, Senior Vice President Academic and Provost, Dr. Ahmed Shoaibi, Dean of Academic Affairs, and Dr. Ebrahim Al ...

BRUSSELS / AFP A series of explosions ripped through Brussels airport and a metro train on Tuesday, killing around 35 people and injuring more than 200 in the latest attacks to rock Europe. Security was tightened across the jittery continent and transport links paralysed after the bombings that Belgian Prime Minister Charles Michel branded “blind, violent and cowardly”. “This is ...

Naypyidaw / AFP Aung San Suu Kyi was nominated as a cabinet minister in Myanmar’s civilian government on Tuesday, giving the democracy champion a formal position despite being blocked from the presidency in a nation ruled for decades by the military. The Nobel laureate, who has vowed to rule above the next president Htin Kyaw, was named first in a ...

Bloomberg Britain posted a larger-than-predicted budget deficit in February, leaving Chancellor of the Exchequer George Osborne little room to meet his full-year fiscal forecast. Government spending exceeded revenue by £7.1 billion ($10.1 billion) compared with 7.5 billion pounds a year earlier, figures from the Office for National Statistics show. Economists in a Bloomberg survey had predicted a £5.9 billion-shortfall. In ...