Bloomberg Just days after Raghuram Rajan announced plans to a return to academia, he’s battling to preserve the Reserve Bank of India’s independence. The government this month revived a proposal to dip into the central bank’s emergency funds to recapitalise commercial lenders hurt by rising bad loans. The idea was first floated in February by the Finance Ministry’s top ...

  Our Correspondent EMIRATES BUSINESS Al Ghurair Centre, a prominent mixed-use landmark by Al Ghurair Investment in Dubai, seamlessly integrates family shopping, refined residential apartments with commercial offices. Shoppers can treat themselves to a comprehensive mix of retail brands ranging from fashion to home decor, accessories to jewellery and much more. The shopping centre also boasts a specialised section of ...

  Our Correspondent EMIRATES BUSINESS Merlin Digital, a leading consumer technology brand aiming to make the world smarter through its innovative offerings, introduces its Eid essentials to stock up on during the Holy Month of Ramadan. From smart travel accessories and smart home products to fitness trackers and everything in between, Merlin Digital has an innovative offering to suit everybody’s ...

  Bloomberg Canada will end restrictions on Mexican travelers while its North American partner opens its market further to Canadian beef. Prime Minister Justin Trudeau and Mexican President Enrique Pena Nieto made the announcement during a state visit on Tuesday in Ottawa, ahead of the Three Amigos summit on Wednesday that includes U.S. President Barack Obama. Canada will lift its ...

  Havana, Cuba / AFP Starwood Hotels took over management of a luxury hotel in central Havana, becoming the first big American hospitality chain with a presence on the island since the Cuban Revolution a half-century ago. The newly-rechristened Cuba Four Points by Sheraton on Havana’s Quinta Avenida — a hotel owned by the Cuban military — now will be managed ...

  Bloomberg Brazil’s new central bank chief Ilan Goldfajn suggested it’s too early to think about cutting rates as inflation remains above target and the government has yet to implement budget cuts. Short-dated swap rates rose. Consumer prices will increase 4.7 percent next year, still above the target set by the government, the central bank said in its quarterly inflation ...

  Bloomberg The widening rich-poor divide in America has robbed the economy of a year’s worth of consumption, according to the International Monetary Fund. Middle-class households declined as a share of the population between 1970 and 2014, while the proportion in high- and low-income brackets expanded, according to new research by IMF economists Ali Alichi, Kory Kantenga and Juan Sole. ...

  “See that little stream? We could walk to it in two minutes. It took the British a month to walk to it — a whole empire walking very slowly, dying in front and pushing forward behind.” —F. Scott Fitzgerald, “Tender Is The Night” WASHINGTON The walk began at 7:30 a.m., July 1, 1916, when British infantry advanced towards German ...

  Adam Minter A new list of the world’s 500 fastest supercomputers suggests that China might be speeding past the U.S. in the race for technological supremacy. China now holds the two top spots, and placed a total of 167 machines on the list. The U.S. had only 165 on the list, with its fastest placing a very distant third. ...

  Grant Wyeth SPECIAL TO EMIRATES BUSINESS As it seems that Brexit was primarily driven by an anti-immigration sentiment, and the rise of Donald Trump in the United States is fueled by similar concerns, it could be reasonable to suspect that these countries’ southern cousin Australia may succumb to similar forces within its current election campaign. However, thankfully, this is ...