News

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Tuesday called Chinese President Xi Jinping to review prospects of enhancing the overall strategic partnership between the two friendly countries. The two leaders reviewed a number of issues of mutual interest, with Sheikh ...

PANAMA CITY / WAM Dubai Chamber organised a breakfast roundtable for private and public sector stakeholders in Panama to introduce them to the trade and investment opportunities in Dubai due to Expo 2020, in addition to highlighting Dubai as a global business destination and gateway to the Mena region for Latin American countries. Fourty-five participants representing the private and public ...

Bloomberg As the Hong Kong government posts its first deficit in more than 15 years, all eyes will be on financial secretary Paul Chan’s budget release on Wednesday and how he’ll tap cash reserves to stimulate an economy under pressure from months of unrest and the coronavirus outbreak. Anti-government protests drove the city into recession last year and economists now ...

Bloomberg Malaysia’s political upheaval is jeopardising the economy’s outlook at a time of heightened global risks and brewing discontent among locals about rising living costs. The ruling coalition collapsed Monday amid a power struggle between 94-year-old Prime Minister Mahathir Mohamad and his planned successor. The political uncertainty is stalling economic policy, including a stimulus package that was due to be ...

Bloomberg Several Chinese cities, including Beijing, have dramatically improved their air quality in recent years, while Indian metropolises remain some of the world’s worst polluted, according to a new report. Beijing — once infamous for its toxic haze — has reduced smog levels and dropped down a list of the world’s most polluted cities, falling to 199 from 84 three ...

Bloomberg Nissan Motor Co gave the starkest warning yet on the future of the Japanese group’s car factories in western Europe, with a plant in the UK threatened by Brexit and another in Spain suffering from a slump in demand. The Sunderland site in England, which makes models that account for the bulk of European sales, remains under a cloud ...

Bloomberg SoftBank Group Corp’s Vision Fund 2 is investing $100 million in compliance and employee-monitoring software company Behavox, according to people familiar with the matter. The investment, which is in the form of preferred shares, values Behavox at about $500 million, the people said, asking not to be identified because the information is private. The investment group will also be ...

Bloomberg Singapore will loosen restrictions on Chinese work-permit holders in the country to help businesses in manufacturing and services industries that have been hit by labour disruptions during the coronavirus outbreak. For a six-month period beginning March 2, the Ministry of Manpower will allow companies in those sectors to hire Chinese workers who are already in the country, with the ...

Bloomberg The UK and the European Union (EU) are increasingly at odds ahead of next week’s trade talks, with each side accusing the other of backing away from past promises. Regaining political independence and freedom from the EU’s legal system will take priority over securing a trade deal by the December 31 deadline, Prime Minister Boris Johnson’s spokesman, James Slack, ...

Bloomberg The Trump administration said it has asked Congress for $2.5 billion — half new money, half repurposed from other efforts — to battle the spread of the coronavirus. The announcement came on the same day that global financial markets were shaken over reports that the illness had spread to Italy and South Korea. US stock benchmarks slid more than ...