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Bloomberg Indian Prime Minister Narendra Modi has championed free trade in global forums over the years, but his record back home appears to be one of rising protectionism. The government has increased import tariffs over the last two years to curb cheap goods from abroad and support small- and medium-sized local manufacturers. In November, Modi pulled India out of the ...

Bloomberg Tesla Inc’s financing arrangements in China may be the subject of the Securities and Exchange Commission (SEC) inquiry that the electric-car maker disclosed last week, according to analysts at Evercore ISI. The financing Tesla lined up from local banks last year may have allowed the carmaker to delay recognition of capital expenditures, Chris McNally, who rates Tesla shares the ...

Bloomberg Indonesia plans to impose excise duty on plastic bags, sugary drinks and vehicle emissions with the new levies expected to net the government about $1.7 billion in additional revenue annually. The new measures, apart from bolstering tax collections, are aimed at tackling climate change as well as a growing prevalence of chronic diseases, Finance Minister Sri Mulyani Indrawati told ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said the Hope Probe is a testament to the capabilities of the youth of the UAE. “The project, which represents a historic achievement for the nation, also sends a message of hope to youth in the Arab ...

ABU DHABI / WAM The Abu Dhabi National Exhibitions Company (Adnec), announced that final preparations for the 4th edition of Unmanned Systems Exhibition (Umex 2020), and Simulation and Training Exhibition (SimTEX 2020), have been completed. Held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE ...

DUBAI / WAM The Jebel Ali Customs Centres Management completed around 3.147 million customs transactions and made 163 seizures in 2019. The strategic customs management, which performs all customs operations at the Jebel Ali Port, the largest marine terminal in the Middle East and the flagship facility of DP World’s portfolio of over 65 marine terminals across six continents, showcased ...

ABU DHABI / WAM The Federal National Council (FNC) approved two draft federal laws on amending certain provisions of Federal Law No.18 for 1981 that regulates commercial agencies and the country’s strategic food reserves. The draft laws were approved during the fifth session of the first ordinary session of the FNC’s 17th legislative chapter, chaired by Saqr Ghobash, Speaker of ...

Bloomberg India is open to greater market access for American farm and dairy products and lower duties on Harley-Davidson Inc motorcycles as it seeks to conclude a trade deal with the US in time for President Donald Trump’s scheduled visit next week, according to people with knowledge of the matter. New Delhi is willing to allow market access for US-produced ...

Bloomberg Singapore unveiled a series of support packages in its budget on Tuesday to help cushion the economy against the coronavirus outbreak and job risks. Finance Minister Heng Swee Keat said he will set aside S$800 million ($575 million) to fight the spread of the coronavirus outbreak, and provide two economic support packages totalling S$5.6 billion to support businesses and ...

Bloomberg Chancellor of the Exchequer Rishi Sunak said he is preparing to deliver the UK budget as planned on March 11, an announcement that ends days of speculation that his sudden appointment to the post last week would force a delay. “Cracking on with preparations for my first budget on March 11,” Sunak said on Twitter. “It will deliver on ...