New Delhi / Tribune News Service The Enforcement Directorate (ED) said it has attached properties worth Rs.1,411 crore of business tycoon Vijay Mallya and his company United Breweries (Holding) Ltd in a case of alleged diversion of Rs.430 crore from an IDBI Bank Ltd loan to his Kingfisher Airlines Ltd to purchase properties overseas. ED, on its Twitter account, …
Read More »New Delhi / Tribune News Service The Delhi government fined five prominent private city hospitals Rs 700 crore for not treating poor patients as mandated by the law, underscoring the scanty healthcare options available to the Capital’s economically weaker sections (EWS). Government rules stipulate 10% of all patients admitted to private hospitals must be poor and treated free of …
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Shanghai / AFP Small-time investor Tracy Li lost more than $3,000 of her hard-earned salary from working at a bank after China’s stock market crashed last summer, wiping out trillions of dollars in valuations in just days. A year later, and she has been burned twice, betting government intervention to prop up the market after the rout would guarantee good …
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BLOOMBERG Dubai stocks led a retreat across Gulf Arab equities, tracking declines in emerging markets as investors brace for a series of key global events including this week’s Federal Reserve meeting and MSCI Inc.’s annual market-classification review. The DFM General Index retreated 1 percent, the steepest drop since June 2. Emaar Properties PJSC, the developer with the largest weighting …
Read More »Bloomberg Itau Corpbanca is the Latin American lender that offers investors the juiciest potential returns, equity analysts say. It’s also the worst performer in the region as investors ignore buy recommendations and wait for a recovery in its earnings. Itau Corpbanca’s 12-month average target price is 31 percent above the current price, the largest difference among 27 Latin American …
Read More »Dubai / Emirates Business England’s early elimination from the Euros 2016 could wipe £6 billion off the stock market in a single day, a finance expert from London Business School has warned. Alex Edmans, Professor of Finance, London Business School, on Sunday said the effect of football results on national mood is so strong that it can spill over …
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Bloomberg Arriving late to the mining boom helped Peru defy a global freeze on project spending as prices plunged. Now the pipeline’s drying up, and the country’s chances of joining neighboring Chile as a copper superpower depend largely on the next president’s affinity with remote communities. For Pedro Pablo Kuczynski, who secured the majority of votes in presidential election, …
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Dubai /Â WAM Dubai Chamber of Commerce and Industry, in its continued quest to harness a robust and competitive business environment, has now commenced the evaluation of applications for both the Mohammed bin Rashid Al Maktoum Business Award and the newly launched 1st edition of the Mohammed bin Rashid Al Maktoum Business Innovation Award. The Mohammed bin Rashid Al Maktoum …
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Abu Dhabi / WAM The Ministry of Economy (MoE) organized an inspection of the fruits and vegetables market at the Port Zayed area in Abu Dhabi on Sunday. The visit was led by Dr Hashim Al Nuaimi, Director of the Ministry’s Consumer Protection Department, and was held in cooperation with the Department of Economic Development in Abu Dhabi. The event marks …
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Abu Dhabi / WAM Saeed Eid Al Ghafli, Chairman of the Executive Office, has confirmed that the Government of Abu Dhabi is determined, according to adopted plans, to follow the wise leadership’s guidance seeking to reinforce health services and facilities in the Emirate of Abu Dhabi, and to provide the best available services, treatments and technologies. He made this statement …
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