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Bloomberg For nearly a decade, Tata Group has been Inditex SA’s partner running Zara stores in India. Now, the country’s largest conglomerate is building its own apparel empire as trend-focussed as Zara — but at half the price. Its retail arm, Trent Ltd, has fine-tuned its local supply chain to deliver “extreme fast fashion” which can get runway styles to ...

Bloomberg A consortium led by Fosun International Ltd is in talks to acquire a majority stake in GV Gold PJSC, a Russian gold miner backed by BlackRock Inc, according to people familiar with the matter. Fosun is considering teaming up with partners including Zhaojin Mining Industry Co for a joint offer, the people said, asking not to be identified as ...

Bloomberg The UK will generate more energy from low-carbon sources than from fossil fuels this year for the first time since the Industrial Revolution. Wind, solar, hydro and nuclear plants provided 48 percent of the nation’s electricity in the first five months of 2019, according to the UK network operator National Grid Plc. Coal, which made up more than 30 ...

Bloomberg Facebook Inc. failed to fend off a lawsuit over a data breach that affected nearly 30 million users, one of several privacy snafus that have put the company under siege. The company’s disclosure in September that hackers exploited several software bugs to obtain login access to accounts was tagged as Facebook’s worst security breach ever. An initial estimate that ...

Bloomberg A slump in German business confidence deepened in June as trade tensions weighed on manufacturers. US-led protectionist thr-eats have clouded the growth outlook in Europe’s largest economy for mon-ths, contributing to a manufacturing slump and bo- osting fears that domestic demand will be undermined. European Central Bank President Mario Draghi last week said he’ll inject fresh monetary stimulus for ...

ABU DHABI / WAM The UAE has become the first country in the Gulf to launch a new reporting platform developed by the United Nations Office on Drugs and Crime (UNODC), to curb organised crimes. The UAE’s Financial Intelligence Unit (FYU), launched the new anti-money laundering platform ‘goAML’ , which has been open for registration since May, officials of the ...

Dubai / WAM Etihad Credit Insurance (ECI), the UAE Federal Credit Insurance Company signed a Memorandum of Understanding (MoU), with the Jordan Loan Guarantee Corporation (JLGC), to explore, develop and strengthen the trade relationship between the UAE and Jordan on the basis of equality, mutual benefit, respect and trust. This partnership will enable enhance trade and business activities through the ...

Manama / WAM Sheikh Sultan bin Hamdan bin Zayed Al Nahyan, UAE Ambassador to Bahrain, on Sunday attended signing of an agreement to launch the first phase of the ‘Sheikh Zayed Highway’ development project in Bahrain. The agreement was signed by Issam bin Abdullah Khalaf, Bahrain’s Minister of Works, Municipal Affairs and Urban Planning, and representatives of the Emirati company, ...

ABU DHABI / WAM The ‘Sanad Initiative’, launched by the Higher Colleges of Technology (HCT), in 2017, aims to assist the college’s graduates in obtaining appropriate certificates and entering the labour market, ensuring their readiness to begin their careers, a HCT official noted. Sanad targets graduates looking for work and employs them in various administrative positions for three to six ...

Bloomberg FedEx Corp rejected a package containing a Huawei Technologies Co phone being sent from the UK to the US in what the mail company says was a mistake, which has elevated beyond routine because of President Donald Trump’s decree in May that limits trade with the Chinese technology company. The phone was being sent to a PCMag.com phone analyst, ...