Blog List Layout

Bloomberg A group of prominent economists from the US and China called for the world’s two largest economies to abandon their trade war and agree to a new path forward that would give both countries more latitude to both pursue their own domestic economic policies and hit back at those that hurt them. In a joint statement issued in China, ...

Bloomberg Space Exploration Technologies Corp’s second-highest ranking executive said the rocket maker has big advantages over other companies racing to build constellations of internet-providing satellites, including Jeff Bezos’s Amazon.com Inc. SpaceX will in the coming weeks launch its next batch of 60 satellites for its Starlink broadband service, Gwynne Shotwell, the closely held company’s president and chief operating officer said. ...

Bloomberg President Donald Trump said Abu Bakr al-Baghdadi is dead after a US military raid in northwest Syria that left the IS leader “in utter fear, in total panic and dread” in his final moments. The president said other countries should now fight IS. “The United States brought the world’s number one terrorist to justice,” Trump said on Sunday in ...

Bloomberg India’s sputtering economy is turning the energy-hungry nation into an unlikely source of diesel exports. The industrial fuel is the lifeblood of Indian manufacturing, transport and agriculture, making it the country’s most-consumed petroleum product. But five straight quarters of slowing growth is taking an increasing toll on demand, resulting in diesel consumption slumping to the lowest since the start ...

Bloomberg Uber Technologies Inc Chief Executive Officer Dara Khosrowshahi vowed to get his company to profitability while pursuing growth from emergent arenas such as India, addressing investors’ concerns about the ride-sharing company’s mounting losses and global regulatory challenges. Uber, which lost about $5.2 billion in the second quarter alone, is having a tough time convincing the market of its growth ...

Dubai / WAM Consumers in Dubai remain upbeat on the overall economy in the emirate and their personal finances with optimism largely stemming from anticipated improvement across tourism, trading and employment. Nationals as well as expatriates shared a bright outlook in the quarterly consumer confidence survey of Dubai Economy and the overall Consumer Confidence Index stood at 139 points in ...

Dubai / WAM Rick Perry, the US Secretary of Energy, praised the strategic vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. “I think His Highness Sheikh Mohammed bin Rashid Al Maktoum’s vision of having a diversified energy portfolio is not only correct but visionary. It attracts to ...

ABU DHABI / WAM Brazil-UAE bilateral trade is set to increase this year with the intensified business transactions, a top Brazilian diplomat said. “The bilateral trade stood at $2.6 billion in 2018, however, the first eight months of 2019 have already witnessed $2 billion trade transactions. This means 2019 trade volumes will surpass the 2018 figures,” Fernando Luis Lemos Igreja, ...

ABU DHABI / WAM HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union, President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation, has highlighted the UAE leadership’s commitment to providing optimal health and prenatal care to women in the country. In a speech marking the over 25 years of dedicated ...

Bloomberg India’s top court ordered several telecom carriers, including Bharti Airtel Ltd, Vodafone Idea Ltd and many defunct ones, to pay the government as much as 920 billion rupees ($13 billion) in past dues, dealing a blow to the businesses already struggling to make profits and pare debt. The Supreme Court, in a ruling read out by a two-judge bench ...