October, 2019

• 12 October

  Dubai to host 2019 First Global DXB Challenge robotics event

  

  DUBAI / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, and Chairman of the Board of Trustees of Dubai Future Foundation, said that Dubai continues to cement its position as a global hub for young talent and creative minds, with its determination to employ technology across various ...

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• 12 October

  UAE, Belize ink deal on economic cooperation

  

  ABU DHABI / WAM The UAE and Belize recently signed an economic cooperation agreement to develop, enhance, and expand their cooperation on areas of mutual interests. The agreement was inked by Sultan bin Saeed Al Mansouri, Minister of Economy, and Erwin Contreras, Belize’s Minister of Economic Development, Petroleum, Investment, Trade, and Commerce. The agreement covers various major sectors, including trade ...

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• 12 October

  US sends more forces to Mideast while Trump vows withdrawal

  

  Bloomberg The Pentagon said it’s ramping up the deployment of US forces to the Middle East to “assure and enhance the defense of Saudi Arabia” against Iran at the same time President Donald Trump has vowed to start bringing troops home from the region. Combined with other recent deployments, about 3,000 personnel are being sent or having their missions extended ...

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• 12 October

  Apple pulls app that tracks police activity in Hong Kong

  

  Bloomberg Apple Inc has pulled the plug on an app that shows police activity in Hong Kong, reversing course yet again as violent pro-democracy protests wrack the city. The US company said it’s now decided to remove HKmap.live from its App Store after consulting with local authorities, because it could endanger law enforcement and city residents. That marks a return ...

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• 12 October

  Takeda nears Russia, Mideast asset sale to PE

  

  Bloomberg Takeda Pharmaceutical Co is nearing the sale of a portfolio of assets in the Middle East, Africa and Russia to separate buyout firms that could help the drugmaker raise about $1 billion to reduce debt, according to people familiar with the matter. The Japanese company is in advanced talks to sell over-the-counter and prescription-drug assets in Russia to Stada ...

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• 12 October

  India factory output declines first time in 2 years in Aug

  Bloomberg India’s factory output contracted for the first time in more than two years in August, as a sharp fall in capital goods and consumer durables production weighed on activity. The index of industrial production fell 1.1% in August, data released by the Ministry of Statistics showed Friday. That compares with an estimate for a 1.7% expansion. The decline, last ...

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• 12 October

  S’pore housing estates to get facelift

  

  Bloomberg Singapore will spend more than S$1 billion ($728 million) on upgrading projects for public and private housing estates over the next few years, Minister for National Development Lawrence Wong said in a speech, according to the Straits Times. The projects will cushion industry partners in the current economic climate, he said at an annual gathering for the ministry, according ...

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• 12 October

  ‘Karma’ catches up with one of India’s most storied families

  

  Bloomberg The tumultuous saga of former Indian billionaires Malvinder and Shivinder Singh seems to be entering a decisive stage. Scions of one of the nation’s most prominent business families, the Singh brothers were arrested and brought into a New Delhi trial court to face charges of fraudulently diverting nearly $337 million from a lender they controlled. The arrests send a ...

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• 12 October

  ‘Shoppers prefer malls over mobile in Philippines’

  

  Bloomberg Holiday shoppers in the Philippines — which has some of Asia’s biggest malls — prefer to buy products in stores over mobile shopping, according to a study commissioned by Facebook Inc. Almost four in 10 Filipinos said in-store shopping is their first choice for the holidays, according to a study conducted by Ipsos Marketing and released by Facebook last ...

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• 12 October

  LNG shipping costs soaring

  

  Bloomberg The cost of chartering a liquefied natural gas vessel on the short-term market has jumped the most since at least 2013. The day rate for a standard tanker East of the Suez Canal jumped 57% in the week to October 9, as issues related to US sanctions on units of China’s Cosco Shipping Corp. start to hit just as ...

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