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Bloomberg India’s trade deficit unexpectedly widened in January, as exports contracted for a sixth straight month while the decline in imports eased. The gap between exports and imports was at $15.2 billion last month, compared with $11.25 billion in December, data released by the Commerce Ministry showed. That’s the widest gap since June and compares with the median estimate of ...

Bloomberg Scarce components have pushed the manufacturing costs for Sony Corp’s next PlayStation to around $450 per unit, forcing a difficult price-setting decision in its battle with Microsoft Corp, according to people with knowledge of the matter. The Japanese conglomerate is preparing to gradually replace the six-year-old PS4 console, releasing its PlayStation 5 the same holiday season its archrival debuts ...

Bloomberg Car sales in China fell to fresh lows in January as the coronavirus kept buyers away from showrooms, intensifying the gloom hanging over the industry. Retail car sales fell 22% to 1.71 million units, the biggest-ever drop for the month of January, the China Passenger Car Association said. The group predicted a worsening outlook, saying February sales may drop ...

Dubai / WAM Ivanka Trump, Advisor to the President of the United States of America on Saturday said that the United Arab Emirates is taking bold leadership in advancing women’s empowerment in the region and expressed the hope that other countries will join the UAE in advancing the active participation of women is various spheres. “The United Arab Emirates is ...

Bloomberg The US said it will increase the tariff rate imposed on aircraft imported from the European Union (EU) to 15% from 10% on March 18. The move is part of a long-running spat in which the US has sought to penalise the EU for offering illegal subsidies to Airbus SE that harmed American aircraft maker Boeing Co. The US Trade ...

HADRAMAUT / WAM The UAE, through its humanitarian arm, the Emirates Red Crescent (ERC), provided 600 food parcels weighing 48 tonnes to the residents of Hadramaut Governorate, benefitting 3,000 people who are members of vulnerable Yemeni families in Al-Reida and Qusayr districts. The beneficiaries thanked the UAE’s leadership, government and people for their support and humanitarian gesture. Since the beginning ...

SHARJAH / WAM The Sharjah Economic Development Department (SEDD), in a strategic partnership with the Ministry of Energy and Industry (MOEI), will host the UAE-Russian Business Forum, on February 19. The forum aims to enhance and strengthen ties of trade, economic and investment cooperation between UAE, in general, and Sharjah, in particular, and the Federal Republic of Russia, and open ...

Bloomberg South Korea’s Foreign Minister Kang Kyung-wha said Japan should take faster measures to lift export curbs on key semiconductor components. Japan should carry out “more visible and sincere steps” to remove the restrictions of such shipments to South Korea, Kang told her Japanese counterpart Toshimitsu Motegi at a meeting on the sidelines of the Munich Security Conference. Japan removed ...

Bloomberg Oil clinched the best weekly gain for the year on signs the worst economic impacts of lethal viral outbreak have been accounted for, easing concern about free-falling demand for crude. Futures advanced 1.2% in New York, settling above $52 for the first time this month. Investor confidence was lifted after China reassured the international community that a huge spike ...

Dubai / WAM Dubai Police, in cooperation with Etisalat, officially unveiled the first 5G-enabled smart patrol in the Middle East and North Africa region. The smart police patrol is equipped with Artificial Intelligence technologies and high-tech cameras connected directly to the Control and Command room via 5G network. Brigadier Khaled Nasser Al-Razooqi, Director of the General Department of Artificial Intelligence ...