Dubai expects to almost halt the growth of state spending this year as revenues expand more slowly because of the emirate’s efforts to stimulate business investment, according to the 2019 state budget released on Tuesday.
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Deutsche Telekom has filed a lawsuit against Germany’s Federal Network Agency protesting the preconditions for participating in a next-generation mobile network frequency auction, Germany’s Die Welt newspaper said on Tuesday.
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The Reserve Bank of India (RBI) said it will allow banks to restructure loans to small and medium sized-companies that are in default but standard as of the beginning of the year. The dispensation is “one time”, the RBI said in a circular on Tuesday.
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Dubai expects to slow the growth of state spending this year but continue spending heavily on infrastructure as it prepares to host the Expo 2020 world’s fair, a statement by the emirate’s ruler Sheikh Mohammed bin Rashid al-Maktoum said on Tuesday.
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U.S. companies have sent home over half a trillion dollars of cash they held overseas in 2018 to take advantage of tax changes, but data suggest the pace is slowing, potentially removing a key source of support for Wall Street.
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