Blog List Layout

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 ...

Bloomberg China aims to buy at least $20 billion of agricultural products in a year if it signs a partial trade deal with the US, and would consider boosting purchases further in future rounds of talks, people familiar with the matter said. The $20 billion would take its imports of US farm goods back to around the level in 2017, ...

Bloomberg General Motors (GM) employees voted in favor of a new four-year labor agreement reached with the United Auto Workers (UAW), ending a nearly six-week-long strike that has cost the company about $2 billion and rippled through the US economy. The union said the deal was approved by 57.1% of its members, enough to ratify the contract and stop the ...

Bloomberg Apple Inc, which saw its shares touch a record high, just earned a new Street-high price target. Morgan Stanley raised its target to $289 a share from $247 a share, the highest among analysts and implying 20% upside from earlier closing price. The bank cited Apple’s upcoming TV+ release next month, contrasting with other brokers who have been less ...