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Live tech demos dominate Cards and Payments ME

  RITIKA SHARMA / Emirates Business Cutting-edge latest technology in payments saw the light of day at the 2016 edition of Cards & Payments Middle East — the region’s largest payment and banking solutions gathering, which opened at the Dubai International Convention & Exhibition Centre. While on one hand, visitors explored how to recharge from a fuel station, on the ...

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Rehabilitation for offenders through reading

  Sharjah / Emirates Business A delegation from Knowledge without Borders (KwB), the Sharjah based cultural project, recently visited the Department of Punitive and Reformatory Establishments in Sharjah. On the agenda for the meeting was the effective rehabilitation of criminals through the habit of reading, with the aim being to successfully reintroduce them into society as model citizens. Headed by ...

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Cows on track to cost India’s first bullet train $1 billion

  New Delhi / Bloomberg India may spend as much as $16 billion — over $1 billion more than initially estimated — on the nation’s first bullet train to elevate the entire railroad, a person with direct knowledge of the matter said. Land acquisition hurdles, as well as people and animals potentially wandering in front of carriages speeding at 350 ...

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Euro-area inflation rate stays negative as ECB mulls outlook

  Bloomberg Euro-area consumer prices failed to increase for a fourth consecutive month, highlighting policy makers’ struggle to stoke inflation despite multiple rounds of stimulus. Prices fell 0.1 percent in May from a year earlier, the European Union’s statistics office in Luxembourg said on Tuesday. That’s in line with the median estimate in a Bloomberg survey of economists and follows ...

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Treasuries lose their lead over shares as Fed moves towards shift

  Bloomberg Treasuries have lost their edge over stocks as the U.S. economy expands enough to push the Federal Reserve toward raising interest rates. U.S. government securities stagnated for a second month in May, leaving them little changed for the second quarter. The S&P 500 Index of shares has returned 2.3 percent since the end of March, based on data ...

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Hamdan asks DLD to continue good work

  Dubai / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, accompanied by Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs and The Future, visited the headquarters of Dubai Land Department (DLD). During his visit, HH Sheikh Hamdan toured the offices of the department and was briefed on the performance and functions of each ...

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UAE and Chad keen to forge economic coop

  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, on Monday received visiting Chadian President Idriss Deby. The two leaders discussed ways of bolstering cooperation between the UAE and Chad to serve the common interests of the two countries, with a focus on ...

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Japan’s stalled retail sales delays Abe’s tax increase

Tokyo / Bloomberg Japan’s retail sales growth stalled, underscoring weakness in private consumption and increasing the likelihood that Prime Minister Shinzo Abe will delay a sales-tax increase planned for next year. Sales were unchanged in April from the previous month, a government report showed on Monday. The median forecast of economists surveyed by Bloomberg was for a 0.6 percent decline. ...

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Syria oppn chief negotiator quits over failed peace talks

  Beirut/ AFP Syria’s opposition chief negotiator in UN-brokered peace talks has announced his resignation in what analysts said amounted to a warning the Geneva-based process was on its “last legs”. Mohammed Alloush, a member of the Saudi-backed rebel group Jaish al-Islam (Army of Islam), said on Twitter late Sunday he was resigning over the talks’ failure to produce any ...

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Tory’s Brexit rifts threaten Cameron

Bloomberg Splits in the UK Conservative Party pose a growing threat to David Cameron’s chances of remaining prime minister after the Brexit referendum as “blue-on-blue” attacks become increasingly acrimonious. Bookmakers cut the odds on Cameron’s ouster this year as former London Mayor Boris Johnson and Justice Secretary Michael Gove, prominent Conservative campaigners to leave the European Union, said the premier’s ...

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