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Osborne readies for spending cuts in UK budget

Bloomberg Chancellor of the Exchequer George Osborne warned he may make further cuts in public spending in his annual budget on March 16 after data showed Britain’s economic recovery is not as advanced as he hoped. Osborne will seek further “efficiencies” in government departments before making cuts to services, he said in an interview with the BBC in Shanghai, where ...

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Samsung Galaxy S7 edges Twitter count

Relaxnews The two new Galaxy S7 handsets from Samsung were the most-tweeted about Mobile World Congress topics during the annual tech conference’s 2016 edition. The Mobile World Congress has increasingly become a destination for technology manufacturers of all kinds, but at the eighth MWC in Barcelona, February 22-25, it was the Samsung Galaxy S7 and S7 Edge that won out ...

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Treasuries plunge as growth, inflation exceed forecasts

NEW YORK / Bloomberg Treasuries fell after a line-up of above-forecast economic data prompted traders to re-evaluate their views on the Federal Reserve’s interest-rates path. Yields on two-year notes, seen as the most sensitive to Fed policy expectations, surged by the most since December as traders ratcheted up bets on the pace of rate increases. That helped push the gap ...

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Taesa keen on in Abengoa’s Brazil power lines

Rio De Janeiro / Bloomberg Transmissora Alianca de Energia Eletrica SA (Taesa) , a state-owned operator of power lines in Brazil, is considering the acquisition of Abengoa SA’s transmission assets in the country as the Spanish company teeters on the edge of insolvency. “We are interested in the assets,” Chief Executive Officer Jose Aloice Rogone Filho said in an interview. ...

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Russian leader pushes Syria truce deal amid scepticism

Beirut / AP Russian President Vladimir Putin spoke with key players in the Syria conflict, including President Bashar Assad, ahead of a US-Russia-engineered cease-fire, as the opposition voiced concerns that the truce due to begin later this week will only benefit the Syrian government. Government troops backed by Russian warplanes waged fierce battles to regain control of a strategic road ...

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DEWA concludes partner participation in GWF

DUBAI / WAM Dubai Electricity and Water Authority (DEWA), has concluded its participation as the main partner in the Global Woman’s Forum Dubai, organised by Dubai Women Establishment (DWE), and the Women’s Forum for the Economy and Society. The forum was held for the first time in the region, under the patronage of Vice President and Prime Minister and Ruler ...

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China stocks tumble as money rates rise

Beijing / Bloomberg China’s stocks slumped by the most in a month after money-market rates jumped. The Australian dollar fell on concern investment is weakening while oil resumed declines and gold advanced. The MSCI Asia Pacific Index of shares halted two days of losses, while China’s equities slumped as concern increased that recent gains were overdone relative to the outlook ...

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ENEC showcases corporate excellence initiatives

Abu Dhabi / Emirates Business As part of the Knowledge Forums that were launched in 2014, the Emirates Nuclear Energy Corporation (ENEC) in coordination with the Office of the Abu Dhabi Excellence Program at the Secretariat of the Executive Council (GSEC), showcased its government excellence experience, initiatives and projects at the forum which was held at Dusit Thani hotel in ...

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IT alert: Locky on prowl in UAE

ALKESH SHARMA / EMIRATES BUSINESS Information technology networks in the country now have a new bug to fight. The malware which is already spreading havoc in the American and European corporate world is posing serious threats to companies in the UAE and Middle East. Industry experts have sounded an alert against ‘Locky’ — as it is named — which is capable ...

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ADIPEC 2016 to focus on energy efficiency

ABU DHABi / WAM Under the patronage of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, Abu Dhabi will play host to the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) from November 7 to 10 at the Abu Dhabi National Exhibition Centre. Driving efficiency in the energy sector will form the cornerstone of ADIPEC 2016, ...

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