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Bloomberg South Korea ordered striking cement truck drivers back to work in a dramatic step it said was necessary because of the threat to the nation’s economy. The government issued the order during a cabinet meeting led by President Yoon Suk-yeol, and warned that violators will face legal action. This is the first time such a decree has been put ...

Bloomberg Toyota Motor Corp produced 771,382 vehicles in October, down from a record of 887,733 the previous month, and warned of an uncertain outlook due to Covid and semiconductor shortages. Output was up 23% from October 2021, when supply chains were disrupted by the spread of Covid in Southeast Asia, Toyota said in a statement. The world’s biggest automaker is ...

  Bloomberg Asian markets including China continue to show growing demand for high quality dietary supplements despite Covid-related disruptions and the general economic downturn, according to Australian vitamin manufacturer Blackmores Ltd. The company expects spending on vitamins and supplements to remain resilient to economic slowdowns, CEO Alastair Symington said in an interview with Bloomberg Television.

  Bloomberg Billionaire Guo Guangchang’s Shanghai Fosun Pharmaceutical Group Co is considering a sale of Indian drugmaker Gland Pharma Ltd after receiving interest from potential buyers, people familiar with the matter said. Fosun Pharma, a listed arm of Chinese conglomerate Fosun International Ltd, has been working with an adviser as it informally gauges interest in its controlling stake in Gland, ...

  Bloomberg Taiwan cut its 2022 growth forecast for the third time this year as the global demand slowdown and rising geopolitical tensions with China prove tough to navigate. Gross domestic product is likely to grow 3.06% for the year, the cabinet’s statistics department said. That’s lower than the last formal estimate of 3.76% given in August. The official 2023 ...

Bloomberg China said it would bolster vaccination among its senior citizens, a move regarded by health experts as crucial to reopening an economy stuck in an endless loop of harsh Covid Zero curbs. But it stopped short of announcing mandates that helped raise inoculation rates in other countries. Instead, officials vowed to push shots harder in places like nursing centres, ...

  Bloomberg Oil tumbled to its lowest price in almost a year as a wave of unrest in China punished risk assets and clouded the outlook for energy demand, compounding the stresses in an already volatile crude market. West Texas Intermediate sinks towards $74 a barrel following three weeks of losses, while Brent traded at around $81. Protests over harsh ...

  Abu Dhabi / WAM The Board of Management of the UAE’s Federal Authority for Nuclear Regulation (Fanr) has approved Fanr’s Operational Plan for the period 2023 until 2026, where it covers its future blueprint in regulating the nuclear and radiological sectors in the UAE. Fanr plans to implement a number of strategic projects and initiatives that focus on carrying ...

Abu Dhabi / WAM Abu Dhabi Islamic Bank (Adib), a leading Islamic financial institution announced that its retail customers were able to conveniently participate in the subscription to initial public offerings (IPOs) that were issued this year through its mobile app. 80% of clients subscribed IPOs that were issued in 2022 through Adib Mobile app in just a few clicks. ...

  Sharjah / WAM The Sharjah Chamber of Commerce and Industry (SCCI) has received a delegation from the Alexandria Chamber of Commerce, who were invited by Abdallah Sultan Al-Owais, Chairman of the SCCI, during his participation in the centennial celebration ceremony of the Egyptian Chamber of Commerce in Alexandria in October. The delegation’s visit, which lasted four days, aimed at ...