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Dubai / WAM Dubai remains on track to becoming the most visited city for global travel, business and events, according to the latest visitation figures released by Dubai’s Department of Tourism & Commerce Marketing (Dubai Tourism). The emirate welcomed 11.58 million visitors in the first three quarters of 2018, with India retaining its position as Dubai’s leading source market, followed ...

Bloomberg HCL Technologies Ltd., founded by Indian billionaire Shiv Nadar’s family, was the worst performer among the nation’s top 50 companies after the software maker said it was buying some of International Business Machines Corp.’s software assets for $1.8 billion. The shares slid 5 percent to 961.95 rupees at the close in Mumbai on a day when the S&P BSE ...

Bloomberg The revival of Pininfarina SpA, the iconic coach-builder famous for designing Ferrari sports cars, is ahead of schedule, though the turnaround is an “unfinished story,” said Anand Mahindra, chairman of the group that bought the Italian company three years ago. Pininfarina, founded in 1930 by Battista “Pinin” Farina, is boosting profit and winning orders for clients inside and outside ...

Bloomberg Uber Technologies Inc has joined rival Lyft Inc in filing for an initial public offering (IPO), according to a person familiar with the matter. Like Lyft, Uber this week submitted its IPO filing confidentially to the US Securities and Exchange Commission (SEC), said the person, who asked not to be identified because the matter was private. Unlike Lyft, the ...

Bloomberg A Blackstone Group LP unit that buys stakes in alternative-asset managers is nearing a deal to make a minority investment in GI Partners, according to people familiar with the matter. The size of the stake that Blackstone Strategic Capital Holdings is in talks to acquire couldn’t immediately be learned. The transaction hasn’t been finalised and either side may decide ...

Bloomberg In a few months time, Swedish truck-making giant Volvo AB will deliver its first all-electric model. The battery-powered eight-wheeler will ply the streets of Germany’s northern port city of Hamburg, picking up garbage. While Chief Executive Officer Martin Lundstedt expects to go slow on the initial ramp-up, he sees the project as a harbinger for a rapid proliferation of ...

Bloomberg The streets of Paris are returning to normal as crews remove debris after protests by a grassroots movement forced police to fire tear gas and water cannons just a week after extremely violent clashes led President Emmanuel Macron’s government to back down on fuel tax increases. Police arrested 1,700 people nationwide and held 1,200 in custody after containing several ...

Dubai / Emirates Business Dubai International Financial Centre (DIFC), the leading financial hub in the Middle East, Africa, and South Asia region (Measa), has made great strides in the fintech space, cementing Dubai’s position as one of the world’s top 10 fintech hubs and a preferred growth platform for startups and SMEs. DIFC has hosted the 6th annual International Finance ...

NEW YORK / WAM Lana Nusseibeh, Ambassador and Permanent Representative of the UAE to the UN, announced that the UAE will contribute $5 million to the UN Central Emergency Relief Fund (CERF) for the year 2019 at CERF’s annual High-Level Pledging Event on December 7. “As a testament to CERF’s effectiveness and the UAE’s commitment to its principles of humanity, ...

Sharjah / WAM The Sharjah Chamber of Commerce and Industry (SCCI), represented by the Sharjah Exports Development Centre, will organise a trade mission to Kenya and Uganda, as part of its strategy to find and develop marketing opportunities for local industries in promising foreign markets, and especially in Africa. The chamber’s trade mission will travel on Monday, along with the ...