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  Dubai / Emirates Business The UAE Ministry of Finance (MoF), in partnership with National Bank of Abu Dhabi (NBAD), is all set to launch new innovative e-Dirham products and services during GITEX Technology Week scheduled from October 16 to 20 at the Dubai World Trade Centre. The launch of new e-Dirham products aims at enriching customer experience and increasing …

  Bloomberg Samsung Electronics Co. cut its third-quarter operating profit by $2.3 billion after ending production of its fire-prone Galaxy Note 7 smartphones, the first official indication of how much the crisis will cost South Korea’s largest company. Profit is projected to be 5.2 trillion won ($4.63 billion) instead of 7.8 trillion won in the three months ended September, the …

  Tokyo / AFP Toyota and Suzuki said on Wednesday they are holding talks about a possible partnership to handle “unprecedented” changes in the global auto industry, as Japan’s vehicle sector sees a wave of consolidation. Toyota, the world’s biggest automaker, and small car specialist Suzuki did not announce details but suggested any partnership could focus on new safety and …

  Tokyo / AFP Tokyo was hit by a major blackout on Wednesday that temporarily knocked out power to a total 580,000 homes and some big office and government buildings, while two train lines were also brought to a halt. Officials said the power outage could be traced to a fire at a facility run by utility Tokyo Electric Power. …

  Bloomberg Daewoo Shipbuilding & Marine Engineering Co., the world’s second-largest shipbuilder, plans to eliminate 3,000 jobs, or 24 percent of its workforce, this year as part of a restructuring plan to improve its financials. Daewoo is receiving applications for a voluntary retirement program until Oct. 21, the Geoje, South Korea-based company said an e-mailed statement Wednesday. The company had …

  SINGAPORE / AP The wealthy city-state of Singapore — with its flourishing trade, orderly life and almost non-existent crime — is hardly a place one would associate with illegal trade. But a new report by a reputed organization reveals that in fact the country has a poor record of preventing just that. The new Economist Intelligence Unit released a …

  Bloomberg Singapore Press Holdings Ltd., (SPH) Southeast Asia’s biggest newspaper publisher by market value, plans to merge two of its tabloids to form a new free-distribution publication as part of a restructuring effort, three people with knowledge of the matter said. The publisher is planning to merge The New Paper and My Paper, they said, declining to be identified …

  Geneva / AFP The UN’s rights chief warned on Wednesday that Donald Trump’s statements pointed to a “dangerous” figure emerging on the world stage if he won the US presidency. At a press conference in Geneva, UN High Commissioner for Human Rights Zeid Ra’ad Al Hussein said he was “not keen or intent on interfering in any political campaign.” …

  BAGHDAD / AP Tensions between Turkey and Iraq continued to escalate on Wednesday as Iraq’s prime minister rejected Turkish claims that their forces must be included in an operation to retake the militant-held city of Mosul. “We will liberate our land through the determination of our men and not by video calls,” Haider Al Abadi said on his Twitter account, …

  Bloomberg IS has dug trenches and rigged roads and buildings with explosives ahead of a US-led coalition offensive to dislodge the militants from their stronghold in Mosul in northern Iraq. “We’re certainly well aware that this is going to be a difficult challenge, a difficult operation,” U.S. Defense Department spokesman Capt. Jeff Davis said. He also said that IS …