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Bloomberg Facebook Inc. was fined 110 million euros ($122 million) by the European Union for misleading regulators during a 2014 review of the WhatsApp messaging service takeover on the same day the EU threatened to heavily penalize Patrick Drahi’s Altice NV for implementing for a second time a deal before getting regulatory clearance. The European Commission won’t overturn approval for ...

Bloomberg US wheat grabbed its first sale to the Egyptian government in more than two years as the world’s biggest buyer requested grain with a higher protein content, knocking France out of the mix. Egypt’s General Authority for Supply Commodities bought two cargoes of US wheat totaling 115,000 metric tons, of 39 percent of the amount purchased, according to two ...

Dubai / WAM The 17th Airport Show has concluded in Dubai with resounding success with more than 7,200 attendees from aviation industry worldwide. Reflecting a strong confidence in Middle East’s aviation sector and the Airport Show, more than 50 per cent of the exhibitors confirmed their participation for the next year. Reed Exhibitions Middle East, organisers of the Airport Show, ...

Dubai / WAM Crown Prince of Dubai His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said that the investment environment within the UAE has witnessed significant changes over the past years under the leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, with significant opportunities for creativity and innovation opening up as the world moves towards ...

Doha / Emirates Business DAMAC Properties, a leading luxury real estate developer in the region, is set to launch Burj DAMAC Seaviews in Qatar next week. The 31-storey tower, featuring luxury furnished and serviced apartments and townhouses ideally located at the beachfront in Lusail City, is set to raise the standards of hospitality in the city and beyond. Burj DAMAC ...

Ras Al Khaimah / Emirates Business Saqr Port Authority, which manages the largest bulk-handling port in the middle East, has taken a further step in its planned capacity expansion by signing a deal with Dutch Shipbuilding and Engineering Conglomerate Damen Group for the delivery of a new ASD 2913 tug. The announcement comes in quick succession of Saqr Port’s recently ...

Bloomberg While Japan’s failure to spur inflation continues to generate angst about the nation’s future, gross domestic product data this week is likely to show that the economy has still managed to eke out five straight quarters of expansion. That would be the best run since 2006, during Japan’s last period of political stability under the leadership of then-Prime Minister ...

Bloomberg Australia’s prized AAA rating will only rest on a firm footing once there’s a “meaningful moderation” in housing and credit, S&P Global Ratings said as it maintained a negative outlook on the country’s sovereign score. The country’s rating was affirmed by the credit assessor after the latest federal government budget projected a return to surplus by 2021, although S&P ...

Bloomberg “Go west!” is the mantra Taiwanese companies lived by for the best part of three decades, turning China into their biggest trading partner. But with cross-strait relations at their worst in close to a decade, President Tsai Ing-wen is urging firms to turn south. Tsai wants to mitigate reliance on the mainland by bolstering trade with 18 countries in ...

Bloomberg Shares of Tata Steel Ltd. jumped after the Indian steelmaker said it has struck a deal to solve its long-running UK pension standoff, bringing the company a step closer to a possible joint venture with Thyssenkrupp AG for its European operations. The stock climbed as much as 5.1 percent to 479.95 rupees ($7.5) in Mumbai on Wednesday, the biggest ...