When India’s prime minister announced last November that 86% of India’s currency would be worthless in hours, he presented the decree as a well-thought-out measure to attack cash “hoarded by anti-national and anti-social elements”. We were led to believe that honest taxpayers would line up to return their high-value currency notes, but these “anti-national and anti-social elements” would be unable …

Just when the world thought China was retreating — pushing acquisitive private companies to relinquish their global shopping sprees — it looks like Beijing might be getting out its check book again. China Civil Engineering Construction Corp. will build a $5.8 billion hydroelectric power station in eastern Nigeria, with 85 percent of the funding to come from Beijing’s Export-Import Bank, …

Here’s a story about the US economy that more people are telling these days. Since the 1980s, antitrust enforcement has gotten weaker. As a result, a few big companies have managed to capture a much bigger share of the market in various industries. Technology may have helped too, by letting big companies spread their geographic reach, and by creating network …

Bloomberg The dollar slipped and Treasuries rose as traders shifted focus from North Korea to a week packed with central-bank decisions, Federal Reserve speakers and economic data that will help illuminate the path of the global economy. The S&P 500 fell after a six-day rally as US markets reopened following the Labor Day holiday. The Stoxx Europe 600 Index traded …

Reuters Kuwait’s stock market outperformed on Tuesday as it reopened after Eid al-Adha holidays, while Abu Dhabi-listed Dana Gas continued surging on the back of a deal to obtain payments from Iraqi Kurdistan. The Kuwaiti index climbed 0.4 percent. Many investors hope index compiler FTSE will decide at the end of this month to upgrade Kuwait to secondary emerging market …

Dubai / WAM Dubai-based master developer Nakheel is gearing up to unveil a diverse range of projects, with a collective value of collectively more than AED3.2 billion, at Cityscape Global 2017 next week, with the launch of six new residential, retail and hospitality developments at four of its communities in Dubai, including its world-famous flagship master development, Palm Jumeirah. The …

Dubai / WAM The Roads and Transport Authority (RTA) has revealed that the total number of passengers lifted by public transport and taxicabs in Dubai during Eid al-Adha holiday has topped 5,454,714. “The RTA has lifted 5,454,714 passengers during Eid al-Adha holiday, where the number of Metro riders reached 1,829,356 passengers; with 1,177,502 passengers carried on the Red Line compared …

Abu Dhabi / WAM A total of 561 cyberattacks against government, semi-government and private sector entities in the UAE were foiled by the Telecommunications Regulations Authority during the first half of the year, according to TRA statistics. The attacks stymied during the first six months of the year account for 53% of total offensive maneuvers foiled throughout 2016, which reflects …

Abu Dhabi / Emirates Business Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi) and TUI Group brought a group of travel and tourism journalists from the Ukraine to the UAE capital to highlight Abu Dhabi’s leisure attractions to the Ukrainian market. TUI Group, one of the leading tour advisors in the region, liaised with TCA Abu Dhabi in promoting …

Dubai / Emirates Business Dubai Land Department (DLD) announced its support for ‘Cityscape Global 2017’, the 16th edition of the region’s premier real estate event. During the three-day exhibition, which will take place from September 11-13 at the Dubai World Trade Center, DLD will be connecting with visitors to introduce them to the latest real estate services at platform SHA10 …