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Bloomberg The number of new taxpayers in India more than doubled in the past five months and about $47 billion came back to the banks after the government’s cash ban brought more people into the fold of the formal economy, PM Narendra Modi said. “Black money which was hidden was forced to come to the mainstream,” Modi said in his ...

Bloomberg China had unexpected buoyancy in its economy to thank for an easing off in corporate defaults in the first half. But as growth shows signs of pulling back, the question is: will it last? Despite alarm over the risks posed by China’s daunting debt pile ticking up in the first six months, the country actually saw a drop in ...

Bloomberg South Korean President Moon Jae-in has signaled his country will no longer stay quiet as tensions escalate between the US and North Korea. In a forceful speech on Tuesday, Moon asserted the right to veto any military action against Kim Jong Un’s regime, saying that decision should be made by “ourselves and not by anyone else.” He vowed to ...

HAMBURG / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum toured the Airbus Plant in the German Province of Hamburg. His Highness Sheikh Mohammed’s four-stop tour of the giant factory premises started in the department dedicated to the assembly of the basic components of the short- and mid-range ...

DUBAI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, paid his condolences, on Monday, to the family of the martyr, Captain Ahmed Khalifa Al Baloushi, who lost his life while serving with the Arab Coalition’s “Operation Restoring Hope,” led by Saudi Arabia, to back ...

ABU DHABI / WAM The retail sector in the UAE is a significant mainstay of the domestic economy, with retail trade expected to secure a compound annual growth rate of 4.9 percent to hit AED260 billion by 2021, according to international forecasts. The marked growth of this sector comes in coveted defiance of geopolitical tensions in the Middle East and ...

­­­­­­­­­­­Bloomberg The angry birds at Rovio Entertainment Oy are set to lay a golden egg for the company’s founders. The firm is planning an initial public offering as early as next month that could value the maker of the Angry Birds mobile games and movie at about $2 billion, said people familiar with the matter. The company could raise about ...

Bloomberg Google isn’t the only Silicon Valley employer being accused of hostility to white men. Yahoo! Inc. and Tata Consultancy Services Ltd. were already fighting discrimination lawsuits brought by white men before Google engineer James Damore ignited a firestorm—and got himself fired—with an internal memo criticising the company’s diversity efforts and claiming women are biologically less suited than men to ...

Bloomberg Netflix Inc. signed a multiyear contract with Shonda Rhimes, poaching the creator of the hit TV series “Scandal” and “Grey’s Anatomy” from Walt Disney Co.’s ABC network. Rhimes will produce new series and other projects, the companies said in a statement on the Netflix website. She will continue her existing work with ABC, but all new developments by her ...

Bloomberg Japan’s second-quarter gross domestic product data put the nation in an unexpected spot: at the top of the growth table among Group of Seven advanced economies. The strongest domestic demand in years helped drive Japanese GDP to a sixth consecutive quarter of expansion, elevating hopes for a sustainable recovery in an economy that’s been better known in recent years ...