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Bloomberg Lotte Group’s efforts to sell its China stores have stalled as buyers aren’t sure they will be able to run the outlets normally after government allegations of fire safety infractions, a company executive said. South Korea’s largest department store operator, Lotte Shopping Co., has taken a sales hit in China over the past year after the group provided land ...

Bloomberg Millions of Chinese cram onto trains to make the annual pilgrimage home for the Lunar New Year holiday. It’s a crowded and often uncomfortable experience that is rapidly being transformed by the country’s push into the world of high-speed rail. China already has the globe’s longest bullet-train network, but it’s plowing 3.5 trillion yuan ($556 billion) into expanding its ...

Bloomberg US President Donald Trump proposed a $4.4 trillion federal budget for fiscal 2019, a plan Congress is expected to all but ignore that would slash entitlements and other domestic programs in favour of higher spending on the military and immigration enforcement. Trump’s $686 billion defense request for the coming fiscal year would propel the Navy towards a new goal ...

Bloomberg Amazon.com Inc. is cutting hundreds of jobs at its headquarters in Seattle, paring back older departments focused on selling goods online while hiring in newer lines of business like cloud computing and its Alexa platform. The reductions are part of a broader reorganisation at the company, but some see the moves as a shift towards using more robots and ...

Bloomberg EMagin Corp. Chief Financial Officer Jeffrey Lucas said that Apple Inc. didn’t invest in the augmented-reality display component maker, contradicting a listing in a regulatory filing mentioning the technology giant. An EMagin filing with the Securities and Exchange Commission listing Apple among “specified investors” was reported by TechCrunch, Bloomberg News and others. The document, from Jan. 23, proposed an ...

DUBAI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, visited the Expo 2020 Dubai site on Monday to view the latest developments, construction and preparations made to date to host the world event. He was accompanied by HH Sheikh Mansour bin Zayed Al Nahyan, ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, on Monday received the World Bank Group President, Dr Jim Yong Kim, on the sidelines of the World Government Summit (WGS 2018). During the meeting, Sheikh Mohammed and Dr Kim discussed a number of development issues in countries ...

DUBAI / WAM Obaid Humaid Al Tayer, Minister of State for Financial Affairs, met with Jose Qngel Gurria, Secretary-General of the Organisation for Economic Co-operation and Development (OECD), to discuss and further strengthen the strategic partnership between the two sides. Obaid Al Tayer thanked the OECD Secretary-General for the constant support provided, specifically related to the Memorandum of Understanding signed ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, on Monday visited the Operations Control Room of the World Government Summit (WGS 2018), in Dubai. His Highness listened to a brief presentation by Major General Abdullah Khalifa Al Marri, Commander-in-Chief of Dubai Police, and Major General Talal ...

Bloomberg The US is ready to engage in talks about North Korea’s nuclear program even as it maintains pressure on Kim Jong Un’s regime, Vice President Mike Pence said, signaling a shift in American policy. Pence and South Korea’s President Moon Jae-in agreed to pursue dialogue with North Korea during conversations at the Winter Olympics in Pyeongchang, the Washington Post ...