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7 troops killed in fighting in eastern Ukraine

  AVDIIVKA / AP Fighting between government troops and Russia-backed separatist rebels in eastern Ukraine escalated on Tuesday, killing at least seven people overnight, injuring many more and briefly trapping 200 coalminers underground, the warring sides reported. Rebels in Donetsk said an electricity sub-station was damaged in shelling, cutting power to the Zasyadko coal mine in Donetsk and trapping more ...

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Envoy says US not building arms depot in Philippines

  MANILA / AP The United States is not building any weapons depot anywhere in the Philippines, the US ambassador said Tuesday, denying the basis on which President Rodrigo Duterte threatened to abrogate a 2014 defense pact that allows US forces to temporarily base in local camps. Ambassador Sung Kim said that nothing is being planned now that even closely ...

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Brexit chief asks lawmakers to trust people, back Article 50

  Bloomberg Brexit Secretary David Davis called on lawmakers to give the government permission to implement the will of the British people who voted for the UK’s formal departure from the European Union. Davis kicked off the debate in the House of Commons in London on Tuesday and made the case that the issue is straightforward. The lower house of ...

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Etihad, TAT ink US$1mn pact to enhance Thailand tourism

  Abu Dhabi / Emirates Business Etihad Airways, the national airline of the United Arab Emirates, and The Tourism Authority of Thailand (TAT) on Tuesday signed a landmark US$1 million agreement to increase tourism to Thailand. Under the new agreement, the Abu Dhabi-based airline and TAT will jointly promote travel to Thailand from priority markets including the United Arab Emirates, ...

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Mitsubishi to boost US engineers after jet delivery delays

  Bloomberg Mitsubishi Aircraft Corp., which announced a fifth delay in the delivery of its passenger jet last week, plans to boost the number of engineers at a Seattle facility by more than a third as it steps up flight tests to meet an extended deadline. The maker of the Mitsubishi Regional Jet will increase staff to more than 200 ...

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JustKidding opens its doors at Town Square

  Dubai / Emirates Business JustKidding opened their retail operation in Abu Dhabi at Town Square, at Al Forsan Village located in Khalifa City ‘A’ area. Town Square is now home to several community focussed brands including JustKidding, a multi-brand retailer with all the leading baby brands under one roof. JustKidding was founded in 2006 by two loving and caring ...

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US carriers tumble amid fear ‘Trump travel ban will spread’

  Bloomberg US airlines tumbled the most in three months as concerns mounted that President Donald Trump’s ban on travel from seven predominantly Muslim nations will lead to more restrictions on flights. Investors are fearful that the US curbs will expand or be answered with retaliation by other nations, said Joe DeNardi, an analyst at Stifel Financial Corp. Trump already ...

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Deutsche Bank’s bill for Russia trades reaches $629 million

  Bloomberg Deutsche Bank AG was fined $629 million by UK and US authorities for compliance failures that saw the bank help wealthy Russians move about $10 billion out of the country using transactions that were likely thinly veiled attempts to cover up financial crime. The UK Financial Conduct Authority issued a 163 million-pound ($204 million) fine on Tuesday hours ...

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‘India to seek weaker rupee to shield growth’

  Bloomberg India’s currency is poised to weaken this year as the central bank seeks to cushion the economy from excessive appreciation, according to Deutsche Bank AG. Though the rupee hit a record low in November, it was broadly stable through the year, slipping just 2.7 percent against the dollar. In real effective terms, which adjust for inflation differences and ...

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Aktif bank gets nod to raise $120mn via sukuk

  Reuters Aktif Bank, Turkey’s largest privately-owned investment bank, received regulatory approval to sell up to $120 million via Islamic bonds, or sukuk, in what could be a rare deal in the international sukuk market. Turkey has seen steady issuance of sukuk from the government and the country’s Islamic banks, known domestically as participation banks, but corporate issuance remains rare ...

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