Bloomberg Myanmar could be the next Vietnam or Thailand, with the economy having the potential of growing as much as 10 percent, a senior British diplomat said. The Southeast Asian nation, which is opening its economy to investors after decades of military rule, has to overcome challenges including a shortage of power supply, lack of policy clarity and high ...
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Copper set to drop as China’s Jiangxi looks to boost output
Bloomberg Copper is poised to drop this year as higher US interest rates and elections in Europe curb demand, according to the chairman of China’s second-largest refiner of the metal. Prices will end the year lower than where they started, Jiangxi Copper Co. Chairman Li Baomin said in an interview in Beijing as the government announced growth plans for ...
Read More »China gives nod for dozens of Trump trademarks
Reuters China has granted preliminary approval for 38 trademarks linked to Donald Trump, documents on China’s state trademark office show, giving the US President and his family protection were they to develop the “Trump†brand in the market. The trademarks — which in theory cover a wide sweep of businesses from hotels to mobile libraries and escorts — underline the ...
Read More »China money supply growth slows amid campaign to contain risk
Bloomberg China’s broadest measure of new credit moderated in February as shadow banking activities slumped, signaling policy makers are making good on pledges to cut leverage and deflate asset bubbles. Aggregate financing was 1.15 trillion yuan ($166 billion), compared with a median estimate of 1.45 trillion yuan in a Bloomberg survey. New yuan loans stood at 1.17 trillion yuan ...
Read More »Australia lures global millionaires to become ‘wealthy’
Bloomberg They’re all going to the land Down Under. Australia is luring increasing numbers of global millionaires, helping make it one of the fastest growing wealthy nations in the world, according to reports from New World Wealth. The influx may be because of Australia’s superior healthcare system and lower inheritance taxes, its ideal location to do business with Asia, ...
Read More »Samsung to shift some home appliances making to US
Bloomberg Samsung Electronics Co. is in preliminary talks to expand its manufacturing operations in the US with a new facility for home appliances. The Suwon, South Korea-based technology giant expects to spend at least $300 million on the project and is discussing the plans with at least five states, the Wall Street Journal reported, citing unnamed sources. The shift ...
Read More »Japan joins Trump in drug price war crimping pharma profits
Bloomberg President Donald Trump has pledged to reverse what he describes as “astronomical†drug prices in the US Thousands of miles away, Japan, long a profit sanctuary for multinational pharmaceutical companies, is taking a similar tack. About $93 billion is spent annually on medications in Japan, and the government plays a key role on prices because it covers about ...
Read More »Trump Nafta revamp could near boiling point at Mexico election
Bloomberg President Donald Trump’s timetable to negotiate the North American Free Trade Agreement threatens to slip into an election year for Mexico, which could feel the economic impact of the uncertainty especially if the agreement starts disintegrating. US Commerce Secretary Wilbur Ross said that the trade talks will probably begin in the latter part of 2017 and shouldn’t last ...
Read More »Akzo Nobel mulls breakup after rejecting PPG’s $22bn offer
Bloomberg Akzo Nobel NV, Europe’s largest coatings company, rejected an unsolicited 20.9 billion-euro ($22.1 billion) takeover bid from rival PPG Industries Inc. and said it may separate its specialty chemicals business to boost the stock price. PPG’s bid, worth 83 euros a share at the end of February, substantially undervalued the company, Amsterdam-based Akzo said in a state- ment ...
Read More »BMW’s profitability hits lowest since 2010
Bloomberg BMW AG reported its weakest profitability since 2010, capping a negative year for Chief Executive Officer Harald Krueger after losing the luxury-car crown to arch-rival Mercedes-Benz. Amid higher spending on electric-car and autonomous-driving technologies, BMW’s automotive profit margin narrowed to 8.9 percent in 2016 from 9.2 percent a year earlier, according to a statement on Thursday. The shares ...
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