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  Bloomberg Exxon Mobil Corp. is doubling down on Papua New Guinea, topping a rival offer for InterOil Corp., a gas explorer focused on the Southeast Asian nation. The energy giant’s offer values InterOil at $2.5 billion, including debt, beating an earlier bid from Oil Search Ltd. and Total SA. Exxon already runs Papua New Guinea’s only liquefied natural gas ...

  Abu Dhabi / Emirates Business The Industrial Coordination Council recently held its first meeting at the Ministry of Economy’s headquarters in Dubai headed by HE Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of the Board. Also in attendance were Council members representing the Ministry of Climate Change and Environment; the Industry Development Office in Abu Dhabi; ...

  Alkesh Sharma / Emirates Business As UAE financial institutions face unnerving and intricate challenges in light of increasing cyber scams, big data emerges as one of the major carriers of malware to the company’s system. According to industry pundits, apart from using a foolproof anti-virus to counter this problem, a close study of algorithms and better usage of statistics ...

  RITIKA SHARMA / Emirates Business Among various technological developments, Internet of Things (IoT) is expected to remain a key trend in the UAE as the nation moves towards its goal of becoming a knowledge-based economy by 2021 and prepares to host the world’s biggest exhibition event, Expo 2020. Regional experts believe IoT will change the face of industries in ...

  RITIKA SHARMA / Emirates Business Though much is being said and done to promote small and medium scale enterprises (SME) in the region, there are certain aspects that need special attention, experts opine. A recent report suggests that SMEs in the region are still struggling with funding gaps and lack of commercial expertise. It is notable that while SME sector ...

  Bloomberg Discount Investment Corp. is poised for the biggest increase on record after entering into an accord to sell its remaining stake in Adama Agricultural Solutions Ltd., the world’s largest maker of generic agro-chemicals, to China National Chemical Corp. Shares in Discount leaped 23 percent to 10.94 shekels in Tel Aviv in 21 times the 3-month average daily volume. ...

  Bloomberg Citigroup Inc. reduced its forecast for net interest margin, the difference between what it makes on loans and pays for funds, on expectations interest rates will remain low for a longer stretch than bank executives previously thought. The margin will be about 2.90 percent in the second half of 2016, down from a previous forecast of 2.95 percent, ...

  Istanbul / AFP Turkish authorities on Sunday pressed on with a ruthless crackdown against suspects in the failed coup against President Recep Tayyip Erdogan, with 6,000 people including generals detained in action that has sparked international concern. World leaders including US President Barack Obama have strongly condemned the attempted putsch but also urged Turkey to respect the rule of law ...

  Nice, France / AFP French investigators arrested two more people on Sunday as they pieced together details about the motives and planning of the Tunisian who rammed a truck into a crowd in an IS-claimed attack that killed 84. Mohamed Lahouaiej-Bouhlel staked out the Nice promenade with his rented truck twice in the two days before he smashed the ...

  Bloomberg High in the Arctic circle, three oil terminals on Russia’s northern coast are already exporting as much crude oil as Libya — and that flow could double in the next five years. It’s a sign the development of remote deposits in the country’s harsh and fragile north will play an increasingly important role as conventional production in the ...