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Bloomberg Nestle SA’s new chief executive officer is putting the world’s biggest food company on a diet, moving to shed its US confectionery business as he seeks growth from healthier and more profitable businesses. Half a year after taking the helm at the Vevey, Switzerland-based company, Mark Schneider put brands like Butterfinger and BabyRuth up for sale. Nestle’s shares rose ...

Bloomberg President Donald Trump announced new restrictions limiting US citizens’ ability to travel to and do business in Cuba, moving to roll back his predecessor’s historic rapprochement and drawing a rare rebuke from the nation’s largest business lobbying group. The changes Trump announced include a ban on Americans doing business with the military and intelligence-affiliated companies that control large swaths ...

Dubai / Emirates Business Dubai Properties, a leading Dubai-based real estate master developer and asset manager, has announced the commencement of work on the new Marasi Business Bay marina. The installation of the pontoons, which marked the occasion, took place in the presence of Abdulla Lahej, Group CEO of Dubai Properties at the Marasi Business Bay Promenade. Launched by Dubai ...

dubai / emirates business National Bonds Corporation, the leading sharia-compliant savings and investment company in the UAE, announced the results of its financial health check for H1 2017 (from January until June). The National Bonds financial health check spans four main categories – monthly saving for married couples, retirement saving for people aged 41 to 55 years old, on time ...

Abu Dhabi / WAM Dr Amal Abdullah Al Qubaisi, Speaker of Federal National Council (FNC) has emphasised that the prestigious status of UAE as the biggest donor of developmental aid in the world reflects the vision of the founding father, the late Sheikh Zayed bin Sultan Al Nahyan, and represents the culmination of his efforts to establish the country’s commitment ...

Dubai / Emirates Business Jabal Omar Development Company (JODC), the region’s leading real estate development company, on Wednesday announced that Emaar Hospitality Group’s premium luxury hotel brand Address Hotels + Resorts has been selected to manage its flagship hospitality project in the Holy City of Makkah. This also marks the first expansion of Address Hotels + Resorts to the Kingdom ...

Bloomberg Attorney General Jeff Sessions played two starkly different roles as he fielded questions from lawmakers over the firing of FBI chief James Comey and alleged Russian connections to himself and other associates of Donald Trump. For Republicans at Tuesday’s hearing of the Senate Intelligence Committee, Sessions was the nation’s top law enforcement officer, defending the president and declining to ...

Bloomberg China’s leverage crackdown is forcing local companies to confront their addiction to short-term bond sales that they use to roll over debt. The shock therapy is worsening the outlook for corporate defaults in the second half of this year after borrowing costs jumped to a two-year high. With yields surging, Chinese non-banking firms sold 131 billion yuan ($19.3 billion) ...

Bloomberg India’s wholesale price inflation slowed in May from a year earlier on the back of falling food costs, indicating subdued price pressures in the pipeline and adding to expectations that the central bank may lower interest rates in coming months. Wholesale price index rises 2.17 percent in May from a year earlier, compared with a median estimate of 2.9 ...

Bloomberg Nintendo Co. announced a slate of new titles for its new hybrid console Switch, moving to capitalize on early excitement for its newest video-game system. A Pokemon role-playing game for the Switch is in development, Kyoto-based Nintendo said Tuesday on a webcast at the start of the industry’s annual Electronic Entertainment Expo in Los Angeles. The company and Ubisoft ...