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Bloomberg Panama is opening diplomatic relations with China, the latest blow to Taiwan as Beijing’s leaders seek to isolate the self-governed island. Panamanian President Juan Carlos Varela announced the move in a national address. China is the second-biggest user of the Panama Canal and has played a key role in sectors from banking to telecommunications, he said, adding that Taiwan ...

Bloomberg India’s government has signaled it will press ahead with the roll out of a goods and services tax on July 1, pushing back against speculation it’s considering delaying the launch of one of its flagship reforms. “The rumors about GST implementation being delayed are false,” Revenue Secretary Hasmukh Adhia said in a Twitter post on Tuesday. “Please do not ...

Bloomberg Multinationals are in line for a windfall from President Donald Trump’s call to cut the tax rate on US companies’ stockpiled overseas earnings, but a select few would do better than others. Apple Inc. and Pfizer Inc. may enjoy an extra earnings bump because of their previous accounting maneuvers, while companies including Microsoft Corp., Merck & Co. Inc. and ...

Bloomberg General Electric Co. is unveiling software for boosting its machines’ productivity and streamlining repairs, alongside deals with Danish shipping line Maersk Corp. and French energy producer Dalkia SA. GE announced new software for power plants, drilling platforms and wind farms at an event in Berlin on Tuesday. The showcase for GE’s IT know-how comes a day after the Boston ...

Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council has attended the launch of the second edition of the Dubai Pulse Report. The report titled ‘Competitiveness and Resilience in a Changing World’ was prepared by the Executive Council of Dubai. HH Sheikh Ahmed bin Saeed Al ...

Dubai / WAM The Ministry of Finance (MoF), organised an introductory workshop on the ministry’s automated revenue matching system for employees from ministries and federal entities in Dubai. The workshop, which was attended by representatives of ministries and federal entities as well as a number of officials and directors of the departments in the ministry, aimed to explain the mechanism ...

Dubai / Emirates Business The UAE has the second highest net perception of service improvement over the past two years globally and ranks first in terms of the highest levels of satisfaction for services in comparison to the private sector, with 39.5% more UAE citizens using these services more often according to The Boston Consulting Group’s (BCG) 2016 Digital Government ...

Abu Dhabi / Emirates Business Hilton on Monday announced that Hilton Abu Dhabi Yas Island Resort will be part of the AED12 billion development plan announced by Miral for the southern end of Yas Island, in efforts to further position the island among the world’s most sought-after destinations by 2022. B.R. Kiran, Chief Portfolio Officer of Miral said: “We are ...

Bloomberg China’s Yanzhou Coal Mining Co. is holding fire on a counter offer for Rio Tinto Group’s Australian coal assets as it waits to hear whether Glencore Plc has succeeded in trumping the deal it struck six months ago. Glencore Chief Executive Officer Ivan Glasenberg has submitted a proposal to buy Rio’s Coal & Allied unit in New South Wales ...

Bloomberg China and Singapore pledged to cooperate on trade and regional infrastructure projects, in a sign the countries have begun to repair ties strained amid security disputes in Southeast Asia. Chinese Foreign Minister Wang Yi and Singaporean counterpart Vivian Balakrishnan said on Monday in a briefing in Beijing they reached agreement to work more closely on China’s “Belt and Road” ...