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Bloomberg President Vladimir Putin is using the threat of additional US sanctions to encourage wealthy Russians to repatriate some of their overseas assets, which exceed $1 trillion by one estimate. Putin told lawmakers that a new capital amnesty program was needed “given the foreign restrictions, which instead of lessening are now worsening,” according to a transcript posted on the Kremlin’s ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Monday received a delegation from Senaat General Holding Corporation and its Group of Companies, and was briefed on the milestones achieved by Senaat over the past period despite the headwinds besetting international markets. ...

Abu Dhabi / Emirates Business The Emirates Nuclear Energy Corporation (ENEC), sponsored and partnered with the Al Dhafra Festival, taking place in Madinat Zayed, in the Al Dhafra Region of Abu Dhabi, until December 28. The initiative is part of ENEC’s continued efforts to support the economic and social development of the Al Dhafra Region and the achievement of the ...

ABU DHABI / WAM The opening of Louvre Abu Dhabi on Saadiyat Island and the hosting of the Formula 1 Etihad Airways Abu Dhabi Grand Prix contributed to a dramatic surge in hotel guests staying in the emirate during November. The month saw a 16% rise in guests staying in the emirate’s 162 hotels and hotel apartments compared to the ...

ABU DHABI / Emirates Business The National Health Insurance Company – Daman will begin replacing cash payments with the e-Dirham service across all its branches and service points from January 2018. The move comes after six months of thorough testing and is part of Daman’s efforts to digitalise services and simplify customer transactions, making their experiences more efficient, secure and ...

Bloomberg China can achieve a goal of doubling the size of its economy by 2020 even if annual expansion slows to 6.3 percent, according to a senior Communist Party official, signalling a greater willingness to tackle debt and pollution at the expense of growth. In its blueprint for 2016 to 2020, China set a minimum annual growth target of 6.5 ...

Bloomberg Shanghai will replace Paris in the top five of global city economies by 2035 in a sign the balance of the world’s economy is shifting east, according to an Oxford Economics study. The top 780 cities in the world, which already produce almost 60 percent of global activity, will add almost half a billion more people and $32 trillion ...

Bloomberg Just as most people are packing up for the holidays, dealmakers across the world are rushing to finish up a slew of transactions in industries ranging from consumer to telecom to health care. Companies have announced about $361 billion of mergers and acquisitions this month, making it the busiest December in at least 12 years, according to data compiled ...

Bloomberg Yandex NV, Russia’s largest search engine, bought local food-delivery firm Foodfox to expand its tie-up with Uber Technologies Inc. in the country, according to a statement on Monday. Uber agreed in July to merge its business in Russia and CIS with Yandex into a $3.7 billion joint venture to be controlled by the Russian company, as it battles across ...

Bloomberg Facebook Inc. signed a multiyear licensing deal that lets the social network carry songs and artists from the world’s biggest record label, Universal Music Group, across its platforms. The deal solves a long-running dispute, with Facebook agreeing to compensate the company and artists including Taylor Swift when users post videos that include copyrighted material. The accord includes Facebook, Instagram ...