Dubai / WAM The UAE Park in China will officially open in December this year in Nanning, the capital of the Guangxi Zhuang Autonomous Region in southern China. Dubai Municipality, which is representing the UAE in Expo 2018 China, has participated in the design of the project covering an area of 1,700 square metres. Marwan Al Mohammed, Director of General ...

Bloomberg US stocks pared declines, while Treasuries rose as investors assessed the possible fallout from President Donald Trump’s push to implement punitive trade tariffs on some products. The dollar turned higher versus major peers. The S&P 500 Index remained on track for the first drop in four days, though overnight declines sparked by the resignation free-trade proponent Gary Cohn and ...

Reuters Gulf stocks mostly fell on Wednesday, with only Saudi Arabia resisting a broad decline in global markets after the resignation of a key White House economic adviser sparked fears of a trade war. The departure of Gary Cohn, who had opposed US President Donald Trump’s plan for tariffs and was seen as a bulwark against protectionist forces within the ...

Bloomberg Saudi Arabia’s oil company isn’t afraid of electric vehicles. As it prepares to sell a stake in the company to investors, the CEO reassured a Houston audience that the need for petroleum isn’t going away any time soon. “I am not losing any sleep over ‘peak oil demand’ or ‘stranded resources,”‘ Saudi Aramco Chief Executive Officer Amin Nasser said ...

BEIJING / Reuters Top officials from China’s two largest oil and gas producers have urged the government to offer tax breaks for the building of gas storage facilities and importing liquefied natural gas (LNG) to help avoid another gas crunch in the winter ahead. Sinopec Vice President Ma Yongsheng said the central government should subsidise the construction of underground gas ...

Bloomberg Elon Musk is no longer leading the charge in residential solar. Tesla Inc. installed 87 megawatts of commercial and residential solar in the fourth quarter, including about 50 megawatts at homes, according to a GTM Research estimate. Rival Sunrun Inc. added 85 megawatts of residential systems in the same period, according to a statement. Counting only that part of ...

Bloomberg China’s efforts to revive Silk Road trading routes are proving to be a boon for a slightly less ancient mode of transportation: freight trains. The value of cargo sent between between China and Europe by rail surged more than 140 percent in the first six months of 2017, according to a new report from the Center for Strategic and ...

Bloomberg Essar Steel India Ltd.’s sale is facing a fresh delay, after creditors of the insolvent firm pushed back a decision on bids from ArcelorMittal and a consortium backed by VTB Group, people with knowledge of the matter said. A committee of Essar Steel creditors, originally slated to convene earlier this week, has postponed a meeting to discuss the offers, ...

Bloomberg Kia Motors Corp. will take a plunge into India’s crowded small car market. The affiliate of South Korea’s Hyundai Motor Corp. plans to make three or more models in the compact hatchback and sport-utility vehicle segments within three years of starting production in 2019, Manohar Bhat, head, marketing and sales at Kia’s local unit said in an interview. Hatchbacks ...

Bloomberg China said a bill for a property tax is being drafted, moving a step closer to a levy that could help tame runaway home prices. Officials are working on the measure, Vice Finance Minister Shi Yaobin said in a briefing in Beijing during the annual meeting of the National People’s Congress. Former Finance Minister Lou Jiwei told reporters that ...