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Hong Kong home prices near peak as risks mount

  Bloomberg Hong Kong housing prices are close to their peak and economically “unsustainable,” said Cusson Leung, managing director at J.P. Morgan Chase & Co.’s Asia Pacific equity research unit. Price increases in the world’s most expensive home market have outpaced Hong Kong’s gross domestic product growth “significantly” since 2009, and any external shocks could trigger tighter liquidity in the ...

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Trump takes credit for $1.33bn in planned Toyota spending

  Bloomberg President Donald Trump took credit for Toyota Motor Corp. investing $1.33 billion in an existing US factory, championing spending by a Japanese automaker he’s blasted for building a plant in Mexico. The outlays in Georgetown, Kentucky, aren’t new — they’ve been in the works for years. But the way they’re being marketed is. Instead of emphasizing cost efficiency, ...

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Google denies pay disparity allegations

  Bloomberg Alphabet Inc.’s Google denied Department of Labor allegations that an in-progress investigation suggests “systemic compensation disparities against women” at the internet giant. “Every year, we do a comprehensive and robust analysis of pay across genders and we have found no gender pay gap,” Google said in an emailed statement. “Other than making an unfounded statement which we heard ...

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Gulf investments in plastic hit AED202bn

  ABU DHABI / WAM Gulf investments in the plastic industry amount to around US$ 55 billion, (approx. AED 202 billion) according to Abdulwahab Al-Sadoun, Secretary General of the Gulf Petrochemicals and Chemicals Association GPCA. Al Sadoun said the plastic sector is projected to attract $17 billion of fresh investments over the coming five years, bringing to $72 billion the ...

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Deals worth $1.66bn inked at Dubai entertainment show

  Dubai / Emirates Business International Expo Consults (IEC), a branch of Falak Holding, stated that exhibitors at this year’s Dubai Entertainment and Amusement Leisure (DEAL) show have signed contracts worth over US$1.66 billion. The DEAL show grew by 30 percent last year over the previous years as exhibitors signed contracts for innovative products and projects, amusement rides and other ...

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Arab oil reserves amount to 710bn barrels in early 2017

  KUWAIT / WAM Total proved reserves of members of the Organisation of Arab Petroleum Exporting Countries (OAPEC), amounted to 710 billion barrels, accounting for 55.6 percent of the world’s total reserves, in early 2017, the organisation said. Total gas reserves held by the eleven members of the organisation stand at 54 trillion cubic metres, or 27.7 per cent of ...

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