News

Bloomberg India’s headline inflation probably breached the central bank’s 4% medium-term threshold last month, but that surge — driven by high onion prices — is unlikely to distract monetary policy makers from their focus on growth. Economists pegged the gains in consumer prices at 4.35% in October, according to the median of 33 economists surveyed by Bloomberg. That would be ...

Bloomberg Nita Ambani, philanthropist and wife of Asia’s richest person, was named to the board of the largest US art museum after years of supporting exhibitions at the New York City institution. Ambani’s backing “has had an enormous impact on the museum’s ability to study and display art from every corner of the world,” Daniel Brodsky, the Metropolitan Museum of ...

Bloomberg China Evergrande Group, the property giant with ambitions to become the world’s biggest maker of electric vehicles, plans to unveil its debut car by June — a year later than first promised. The car, to be sold under the ‘Hengchi’ brand, will debut in the first half of next year, with mass production starting in 2021, the company said ...

Bloomberg Chinese electric-car maker Xpeng Motors Technology Ltd has raised $400 million from investors including technology company Xiaomi Corp, as it seeks a spot among China’s more serious contenders in the market. Private-equity firms and individual investors including founder He Xiaopeng also took part in the funding round, the company said in a statement. The startup said in June it ...

Bloomberg The Japanese telecommunications business of billionaire Masayoshi Son’s conglomerate is planning to sell its first bond since listing, in a test of investor sentiment after recent stumbles by the broader group. SoftBank Corp is considering the sale of five-, seven- and 10-year notes in the current fiscal year ending March 31, with pricing likely to occur in the January-March ...

Bloomberg Singapore has unveiled an ambitious strategy to become a global leader in artificial intelligence by 2030, attempting to carve out a niche for itself in an increasingly politicized technology. Deputy Prime Minister Heng Swee Keat outlined five key areas the island nation is targeting for AI applications including in transport and logistics planning, provision of municipal services, detection and ...

ABU DHABi / WAM As part of the directives of Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Federal Authority For Identity and Citizenship has granted the Permanent Golden Residency to a number of scientists and specialists in line with its position as an incubator for talents ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), on Tuesday announced that it has signed a broad Framework Agreement with China’s Rongsheng Petrochemical Co., Ltd. to explore domestic and international growth opportunities which will support the delivery of its 2030 smart growth strategy. The agreement will see both companies explore opportunities in the sale of refined products ...

ABU DHABI / WAM Collaboration between the United States and the Organisation of the Petroleum Exporting Countries (Opec), is “not on the cards,” according to Francis R. Fannon, US Assistant Secretary for the Bureau of Energy Resources at the US Department of State. In an interview with Emirates News Agency (WAM), Fannon said the “US presence on the energy market ...

ABU DHABI / WAM Aldar Properties on Tuesday reported a 14 percent year-on-year increase in gross profit to AED662 million in the third quarter of 2019. Also, the company’s revenue increased seven percent to AED1.60 billion compared to AED1.50 billion in Q3 2018. Development management recorded 20 percent growth in revenue to AED642 million, off-plan development sales increased 272 percent ...