Landlord that mirrored property boom & bust to foldup

  Bloomberg BentleyForbes once owned such renowned properties as the Watergate office complex in Washington and Bank of America Plaza, Atlanta’s tallest skyscraper. Now the company is on the verge of vanishing. C. Frederick Wehba, who co-founded the Los Angeles-based real estate firm in 1993 and was chairman until 2012, said he will announce his official separation as an adviser ...

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The (false) robot invasion

WASHINGTON The robots are coming — but not in numbers that would imperil most Americans’ jobs. Few subjects have inspired as much hype as robots. Consider some sample headlines: “Robots and Computers Could Take Half Our Jobs within the Next 20 years,” “Robots Could Put Humans Out of Work by 2045,” “Why the Highest-Paid Doctors Are the Most Vulnerable to ...

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China must quell European pessimism

  China, which has been a top business hub over the last two decades, is now experiencing slow growth amid increasing hostile business environment and lack of political will to accelerate structural reforms, triggering pessimism among European companies. Fifty-six per cent of European firms polled by the European Chamber of Commerce in China said they are finding it more difficult ...

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Mongolia’s cybersecurity cooperation

  Galbaatar Lkhagvasuren SPECIAL TO EMIRATES BUSINESS Mongolia has declared in its National Security Concept that it will develop friendly-neighbor relations and wide-ranging cooperation with the Russian Federation and the People’s Republic of China. Yet individuals and other groups both in China and Russia have attempted cyber attacks on Mongolia numerous times, most of which have been reported to the ...

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China’s shadow banks pose systemic risk

Of all the topics sure to be come up in Sino-U.S. economic talks this week — from the problem of excess capacity to currency controls — the health of China’s financial sector will no doubt feature high on the list. Especially worrying are the multiplying links between the country’s commercial and “shadow” banks — the name given to a broad ...

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Car bomb kills 11 in Istanbul

  Istanbul / AFP A bomb ripped through a Turkish police bus near Istanbul’s historic centreon Tuesday, killing seven officers and four civilians in the latest of a string of attacks in Turkey’s biggest city. The car bomb targeted a bus carrying anti-riot police as it was passing through the central Beyazit district close to many of the city’s top tourist ...

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Head of women’s group detained at ‘Western Wall’

  Jérusalem / AFP The head of a group of women activists pushing for equal prayer rights at Jerusalem’s Western Wall was detained on Tuesday after taking a Torah scroll there in defiance of the holy site’s rules, the group said. The incident comes as activists, Israel’s government and the ultra-Orthodox Jewish establishment debate a controversial plan to create a ...

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Asylum seeker arrivals in Germany slow down

  Berlin / AFP Germany recorded around 16,000 new asylum seekers in May, almost unchanged from April, official data showed on Tuesday, after the closure of the key Balkans route slowed a record influx. Among the 16,281 asylum seekers who arrived in Germany in May, Syrians made up the biggest group at 2,685, followed by Afghans at 2,289 and 1,355 ...

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Russia-backed Syria regime bears down on IS town

  Beirut / AFP Russian-backed Syrian regime forces inched closerto a key stop on a vital IS group supply line, as a twin offensive bore down on the extremists’ northern stronghold. The advance comes as 17 civilians were killed in air raids on a popular market in eastern Syria on the first day of the holy Muslim month of Ramadan. ...

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Niger vows to avenge Boko Haram raid

  Niamey / AFP Niger vowed to avenge the deaths of 26 of its soldiers who were killed by Boko Haram insurgents in one of the extremist group’s deadliest attacks in the country. “We must continue to fight, this insult must be expunged, there is nothing to be done, it must be avenged,” Defence Minister HassoumiMassoudou said. The minister was ...

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