News

ABU DHABI / WAM Etihad Cargo, the cargo and logistics arm of Abu Dhabi’s Etihad Aviation Group, and global supply chain company EFL Global, have successfully carried a vital consignment of antiretroviral drugs from India to Brazil. The shipment, which weighed more than 55,000kg, was transported on behalf of a leading manufacturer headquartered in Hyderabad and delivered to Sao-Paulo-Guarulhos International ...

Dubai / WAM 3iQ Corp, Canada’s largest digital asset investment fund manager with more than C$2.5 billion in assets under management, on Wednesday officially listed “The Bitcoin Fund”, (Trading Symbol: QBTC), on Nasdaq Dubai, the region’s international exchange. The regulated Bitcoin-based exchange-traded product is the first listed digital asset-based fund in the Middle East and North Africa (Mena) region. The ...

Bloomberg New York-traded electric vehicle maker Xpeng Inc has received the green light from the Hong Kong stock exchange to list in the city, the latest homecoming share sale by a Chinese company. The company submitted an updated listing document on Wednesday, indicating it has won the bourse’s approval. The filing, which confirmed an earlier Bloomberg News report, didn’t specify ...

Bloomberg The recovery in gasoline demand across Asia from virus-driven slumps remains patchy, offering a complex picture as improvements in nations such as India are partially offset by deteriorations elsewhere. While consumption has shown signs of picking up in the region’s third-largest economy, as well as in Thailand, it’s offset by slowing demand in Taiwan, Vietnam and Malaysia, Apple Mobility ...

Bloomberg Singapore’s count of millionaires could increase by more than 60% over the five years from 2020 to 2025, according to Credit Suisse Group AG, part of a surge in millionaires expected in Asia as financial capitals emerge from the Covid-19 pandemic. The city-state may have 437,000 millionaires by 2025 compared with 270,000 in 2020, according to the bank’s 2021 ...

Bloomberg Hong Kong’s on-demand logistics and delivery firm Lalamove has filed confidentially for a US initial public offering, according to people with knowledge of the matter. The company, also known as Huolala in China, is looking to raise at least $1 billion in the share sale, the people said. Details of the offering including the fundraising amount are still subject ...

Bloomberg Starting in early 2020, a very unlikely anomaly started appearing in global trade data: China said it was selling more goods to the US than the US reported buying from China. That was a reversal of the normal pattern and a product of the two nations’ trade war — but not an intended consequence. Instead, it was likely due ...

Bloomberg Italy’s Prime Minister Mario Draghi said that faster than expected growth will be key to cutting Italy’s debt burden, which has swelled during the pandemic as the government stepped in to support businesses. “Economic confidence is coming back,” Draghi said addressing lawmakers ahead of the June 24 and 25 European Union summit. “Data is pointing to a stronger than ...

Bloomberg American pharmaceutical distributor McKesson Corp. is exploring a sale of its European business, according to people familiar with the matter, in a move that would reverse its $8.3 billion purchase of Germany’s Celesio AG in 2014. Phoenix Group, Germany’s largest pharmaceutical wholesaler, which is owned by the billionaire Merckle family, is in talks to acquire the continental European business. ...

Bloomberg Almost half of London companies whose staff can work from home expect them to do so up to five days a week after the pandemic finishes, and smaller businesses are more likely than larger ones to move ahead with remote working. That’s according to a poll of 520 business leaders by the London Chamber of Commerce and Industry, which ...