November, 2016

• 6 November

  S Korea scandal widens as presidential aides arrested

  

    Seoul /AFP South Korean prosecutors arrested two former top presidential aides on Sunday in a snowballing influence-peddling scandal which has seen tens of thousands of people take to the streets to demand President Park Geun-Hye resign. Park’s approval ratings have hit a historic low of five percent—a record for a sitting president—over the scandal involving her close friend Choi ...

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• 6 November

  Test for prime minister as Bulgarians elect president

    Sofia / AFP Bulgarians voted on Sunday in a first round of presidential elections, a key test of Prime Minister Boyko Borisov’s popularity in the EU’s poorest country. If his candidate and protegee Tsetska Tsacheva fails to win the presidency, Borisov might call early elections, plunging Bulgaria into renewed political uncertainty, experts say. Opinion polls suggest that Tsacheva, currently ...

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• 6 November

  uae’s food sector sales poised to grow 7.4% every year till 2020

  

    Dubai / Emirates Business UAE food sales are projected to grow by an annual average of 7.3 percent ($16.7bn) between 2015 and 2020, according to a new BMI report commissioned by Dubai World Trade Centre (DWTC) and released in tandem with the opening of its annual trio of specialist foods shows, which run until November 9. In addition to ...

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• 6 November

  FERG records spike in foreign currency transactions

    Dubai / Emirates Business The Foreign Exchange and Remittance Group (FERG), comprising businesses engaged in money exchange and remittances, has recorded a 10-15% increase in foreign currency exchange transactions for 2016 compared to the same period last year. Data compiled by the organisation from the ledgers of member exchange houses also shows a spike in foreign exchange purchase transactions ...

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• 6 November

  650,000 visitors attend SIBF in four days 

    Sharjah / WAM More than 650,000 visitors have attended the first four days of this year’s Sharjah International Book Fair (SIBF) a record in its 35-year history. Data indicates that the current edition of the fair, which concludes next Saturday at Expo Centre Sharjah, will break the record for overall number of visitors at a single edition, surpassing last year’s ...

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• 6 November

  DED vows support to GCC manufacturing summit

    Dubai / WAM The Department of Economic Development (DED) in Dubai, announced its support to the ‘GCC Manufacturing Excellence and Technology Summit’, which will focus on different methods to effectively manage the challenges in achieving operational efficiency and excellence in manufacturing. Saed Al Awadi, CEO of Dubai Exports, the export promotion agency of DED, and Brad Hariharan, Regional Director of ...

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• 6 November

  DEWA finishes photovoltaic installations on 222 buildings

  

    Dubai / Emirates Business Dubai Electricity and Water Authority (DEWA) announced the achievements made by the Shams Dubai initiative as of October. DEWA launched the Shams Dubai in adherence with the Smart Dubai initiative, which was launched by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make ...

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• 6 November

  Prosecutors widen ‘dieselgate’ probe net to VW chairman

  

    Frankfurt / AFP German prosecutors probing whether Volkswagen executives manipulated the markets in the wake of the “dieselgate” scandal have widened their investigation to include the chairman of the group’s supervisory board, the auto giant said on Sunday. “The proceedings refer to the period during which (chairman) Hans Dieter Poetsch served as the group chief financial officer,” VW said ...

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• 6 November

  Microsoft, Dell, Salesforce start buying into WeWork offices

    Bloomberg WeWork Cos. built its brand on the hustling energy of small startups, but the company is finding that boring corporate giants may be finally ready to embrace the idea of renting a desk next to a stranger. In the last year, WeWork has established a new team that caters to the needs of large companies. The New York ...

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• 6 November

  Tight US job market delivers as pay accelerates

  

    Bloomberg Millions of Americans have gone back to work since the last recession. Now they’re finally getting some decent pay raises. Average hourly earnings of workers climbed 2.8 percent in October from a year earlier, the fastest pace in seven years, Labor Department figures showed Friday in Washington. Rising wages are encouraging people to look for greener pastures: Among ...

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