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Mongolia to get $440mn loan as part of IMF’s $5.5bn bailout

  Bloomberg Mongolia reached an initial agreement with the International Monetary Fund for a three-year program that includes a $440 million loan package as part of a $5.5 billion bailout to help the north Asian country with looming debt repayments. “The Asian Development Bank, the World Bank and bilateral partners including Japan and Korea are expected to provide up to ...

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China unveils curbs on secondary share sales as IPOs speed up

  Bloomberg China’s securities regulator announced new curbs on how much and often the country’s public companies can issue new shares, amid concerns that a faster pace of initial public offerings will drag down the stock market. The number of shares issued in private placements can’t be more than 20 percent of a company’s total shares, the China Securities Regulatory ...

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Trump team sounds out tech firms ahead of cyber order

  Bloomberg The Trump administration has quietly consulted technology industry leaders ahead of issuing a delayed executive order on cybersecurity, even as executives have clashed with the White House over policies including the president’s efforts to limit entry to the US. President Donald Trump delayed the signing of a cybersecurity directive that had been planned for January 31 just as ...

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Toll Brothers to pay taxes on Manhattan condos to lure in buyers

  Bloomberg Luxury developer Toll Brothers Inc. has a deal for those shopping for a condo in Manhattan: buy something soon, and we’ll pay the taxes on your purchase. The publicly traded homebuilder is offering to pay the city transfer tax and the New York state “mansion tax” — an effective discount totaling almost 2.5 percent — on deals made ...

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Mohammed meets chairmen of General Atomics and Raytheon

  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, separately received Neal Blue, Chairman of General Atomics, and Thomas Kennedy, Chairman and Chief Executive Officer of the Raytheon Defence Company, at Al Shati Palace on Saturday. The two major United States (US) defence ...

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IDEX conference tackles disruptive innovation in defence and security

  Abu Dhabi / Emirates Business IDEX Conference 2017, part of the 13th edition of the International Defence Exhibition and Conference (IDEX 2017) and the fourth edition of the Naval Defence Exhibition (NAVDEX 2017) commenced on Sunday at the National Archives headquarters in Abu Dhabi. The event attracted national and international defence policy makers and experts engaging in a lively ...

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Pence tells European allies US ‘will hold Russia accountable’

  MUNICH / AP Vice President Mike Pence vowed on Saturday that the United States will “hold Russia accountable” even as President Donald Trump searches for new common ground with Moscow at the start of his presidency. Pence, in an address to the Munich Security Conference, also offered assurances to European allies that the US “strongly supports” NATO. He said ...

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Etihad Rail transported 10mn tonnes of sulphur

  Abu Dhabi / Emirates Business Etihad Rail, the developer and operator of the UAE’s multi-billion dollar fully integrated national railway network, has since commencing Stage One operations, transported 10 million tonnes of granulated sulphur for the Abu Dhabi National Oil Company (ADNOC) as of February 10, from sources at Shah and Habshan to its point of export at Ruwais. ...

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Unilever remains cool to Kraft Heinz takeover bid despite rally

  Bloomberg As the clock ticks toward a takeover deadline, Kraft Heinz Co. faces an uphill battle getting Unilever to negotiate. Publicly, the company has decried Kraft’s $143 billion buyout offer as lacking merit and said there was no basis for further talks. Behind the scenes, Unilever executives have fretted over Kraft’s penchant for slashing costs and lack of vision ...

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US probes possible abuse of ‘kill switches’

  Bloomberg A US regulator is looking at whether auto finance companies that use sophisticated technology like ignition kill switches are illegally harassing subprime borrowers that have fallen behind on their payments. The Federal Trade Commission, a consumer protection agency, has asked for information from at least two lenders, according to securities offering documents from both companies this month obtained ...

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