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Bloomberg Thailand and Indonesia are at risk of losing a special trade status that gives developing economies preferential access to the US market, according to Maybank Kim Eng Research. Thailand is the second-biggest beneficiary of the decades-old program, known as the Generalised System of Preferences (GSP), while Indonesia is the fourth-largest, Maybank analysts led by Chief Economist Suhaimi Ilias said ...

Bloomberg European Union leaders plan to underscore the importance of the fight against climate change when they meet next week, though their words will stop short of a mandate to move towards zeroing out fossil fuel emissions. Heads of government will pledge “building a more climate-friendly, neutral, green, fair and inclusive future” at the summit in Brussels on June 21 ...

Bloomberg Canadian exporters are reporting widespread concerns about a global recession, with sentiment in the sector falling to the lowest level in seven years, according to a survey by the country’s export financing agency. Export Development Canada’s trade confidence index, a composite gauge based on a bi-annual survey of 1,000 businesses, dropped to 69.8, compared with 73.7 at the end ...

Bloomberg PricewaterhouseCoopers was fined 4.55 million pounds ($5.8 million) by the UK’s accounting watchdog over failings in its handling of technology firm Redcentric Plc, giving fresh ammunition to critics calling for a breakup of the so-called Big Four auditing firms. The penalty was reduced from 6.5 million pounds after the company admitted its wrongdoing ahead of a final decision by ...

Bloomberg The same source responsible for a recent missile launch on an airport in Saudi Arabia likely perpetrated attacks on ships near the Strait of Hormuz, according to the Kingdom’s energy minister. Khalid Al-Falih’s comments during a G-20 ministerial meeting on energy and the environment in Japan come after US President Donald Trump blamed Iran for the vessel attacks near ...

ABU DHABI / WAM A high-profile delegation from the Abu Dhabi Department of Energy (DoE), led by the DoE’s Chairman Awaidha Murshed Al Marar, is visiting the Australian state of Victoria this week to expand cooperation and reinforce strategic partnerships in energy between Abu Dhabi and other countries of the world. The visit will see the delegation meet with officials ...

Berlin / WAM The United Arab Emirates and Germany have reaffirmed their joint commitment to the fight against terrorism and violent extremism, in all its forms, at both regional and international levels. In a joint statement issued on Wednesday on the occasion of the visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and ...

Abu Dhabi / WAM The Khalifa bin Zayed Al Nahyan Foundation signed an agreement with the Electricity and Energy Ministry of the Republic of Yemen to implement a power plant in Aden at a cost of $100 million. The agreement is part of the continuous programme implemented by the UAE to support the electric power sector in Aden. The agreement ...

DUBAI / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (Dewa), and a delegation from Abu Dhabi Future Energy Company (Masdar), have discussed ways of developing their partnership on renewable and clean energy, and the various plans and projects that support the objectives of the UAE Centennial 2071. At the meeting, which was held ...

Bloomberg Alphabet Inc’s Google is moving some production of Nest thermostats and server hardware out of China, avoiding punitive US tariffs and an increasingly hostile government in Beijing, according to people familiar with the matter. Google has already shifted much of its production of US-bound motherboards to Taiwan, averting a 25 percent tariff, said the people, asking not to be ...