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  London / AFP Britain will enter EU exit talks in a strong position, finance minister Philip Hammond declared Wednesday, after data revealed economic growth unexpectedly accelerated in the run-up to the Brexit referendum. Gross domestic product (GDP) grew 0.6 percent in the second quarter, the Office for National Statistics (ONS) said in a first estimate for April-June, which included ...

  Bloomberg GlaxoSmithKline Plc, the U.K.’s biggest drugmaker, reported second-quarter earnings that beat analysts’ estimates and raised its forecast for the year as sales of new products doubled. Profit excluding certain costs surged 42 percent to 24.5 pence from a year earlier, the London-based company said in a statement on Wednesday. That topped the 21-pence average of analyst estimates compiled ...

  Dubai / Emirates Business The finalists for the 2016 Gulf Capital SME Awards organised by MEED have been announced. As many as 47 companies will now go on to compete to win in 13 categories. In its fifth year, the Gulf Capital SME Awards recognises success, growth and innovation in business. Judges were searching for customer focus, outstanding leaders ...

  Abu Dhabi / WAM Solar Impulse 2 returned safely to Abu Dhabi on Tuesday morning to successfully complete its historic round the world flight without using a drop of fuel. The first aircraft to circumnavigate the globe using only solar power, Solar Impulse 2 touched down at 04:05 to a rapturous reception at Al Bateen Executive Airport in the UAE ...

  Sagamihara / AFP A former employee went on knife rampage at a Japanese centre for the disabled on Tuesday, leaving 19 people dead and 25 injured in the country’s worst mass killing for decades. The 26-year-old man, who was fired and hospitalised earlier this year after making a threat to kill hundreds of disabled people, later turned himself in ...

  Dubai / WAM This year, Dubai maintained its attractiveness to global investors as in the first half of 2016, over 8,000 new companies joined the membership of Dubai Chamber of Commerce and Industry bringing its total membership to 193,000 with a 4.3% growth. This new addition takes the non-profit business organisation membership closer to 200,000 while enhancing the Chamber’s reputation ...

  Dubai / WAM The number of ideas put forward by Dubai Customs (DC) staff to the Mohammed bin Rashid Smart Council, from its launch in October 2015 until the end of June, was 1,527, of which 687 were approved, representing about 45% of the overall number submitted. This percentage was reached as a result of the enthusiasm shown by ...

  ABU DHABI / WAM Some 35 government and private companies have set up pavilions in the exhibition area of Liwa Dates Festival, promoting the latest trends and achievements in the business of dates. Among the active participants in the festival are: Al Dhafra, one of UAE’s largest dates company, which recently reported that the Emirates are now the world’s ...

  Bloomberg China National Petroleum Corp. said its Changqing oil field, the country’s biggest crude and gas producer, rebounded from losses earlier this year to post a first-half profit amid reduced spending. Oil and gas equivalent output from the field reached 26.5 million tons in the first six months of the year, on its way to meeting the 50-million-ton annual ...

  Bloomberg Steel supply from China, the world’s biggest producer, remains a “big worry” for the global industry, which continues to be under pressure despite an improvement in prices, JSW Steel Ltd. Chairman Sajjan Jindal said. There is “‘huge overcapacity” in China and the industry is worried about how the Asian nation will address the issue, Jindal, who runs India’s ...