News

Bloomberg Jaguar Land Rover’s Indian owner reported a narrower loss than expected in the second quarter after the British luxury unit turned profitable working through a cost cutting program. Tata Motors Ltd lost 2.17 billion rupees ($31 million) in the three months ended September 30, compared with a loss of 10.5 billion rupees a year earlier, the company said. Analysts ...

Bloomberg Hong Kong may report negative growth this year as the economy reels from more than four months of social unrest, Financial Secretary Paul Chan wrote in a blog post. It is “impossible to rule out the possibility” that full-year gross domestic product will decline, Chan wrote in the post. “It seems that it is extremely difficult to achieve the ...

Bloomberg Uber Technologies Inc Chief Executive Officer Dara Khosrowshahi vowed to get his company to profitability while pursuing growth from emergent arenas such as India, addressing investors’ concerns about the ride-sharing company’s mounting losses and global regulatory challenges. Uber, which lost about $5.2 billion in the second quarter alone, is having a tough time convincing the market of its growth ...

Bloomberg Trade-reliant Thailand said President Donald Trump’s decision to suspend some US trade benefits will affect only a small proportion of its exports. The impact is expected to be limited and would cut annual export value by at most $32.8 million in 2020, the Commerce Ministry said in a statement. The US is Thailand’s second-largest export market, and shipments were ...

Bloomberg China said parts of the text for the first phase of a trade deal with the US are “basically completed” as the two sides reached a consensus in areas including standards used by agricultural regulators. The Saturday comments followed a call with Chinese Vice Premier Liu He, US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin. The trade ...

DUBAI / WAM Mariam Almheiri, UAE Minister of State for Food Security, has undertaken an official two-day visit to the United Kingdom, where she held a number of meetings with government ministers, officials and representatives of prominent food research centres, universities and companies, to explore bilateral cooperation in the areas of food trade, investment and scientific research. Speaking about her ...

LONDON / WAM The National Media Council (NMC) Director-General, Mansour Al Mansouri, noted UAE’s journey and impact of tech revolution during nation’s growth, at One Young World Summit in London. In a session titled, ‘The New Age of Conversation’, Al Mansouri said, “In UAE, tech revolution has developed in parallel with growth of our own nation,” highlighting future of communications ...

Bloomberg Global energy markets have “a ready supply” of oil as the US boosts production and exports and continues to seek deals to sell its crude and natural gas, Energy Secretary Rick Perry said. The increase in US production and exports helped ease the price spike after attacks on Saudi oil infrastructure last month, Perry told reporters during a briefing ...

Bloomberg India can take more steps to be competitive in the global market, such as enforcing contracts, World Bank President David Malpass said. “There can be more progress in land permits and in enforcement of contracts,” Malpass said in New Delhi on Saturday. “Other countries in Asia have done pretty well.” India jumped 14 places to 63rd in the World ...

Dubai / WAM Consumers in Dubai remain upbeat on the overall economy in the emirate and their personal finances with optimism largely stemming from anticipated improvement across tourism, trading and employment. Nationals as well as expatriates shared a bright outlook in the quarterly consumer confidence survey of Dubai Economy and the overall Consumer Confidence Index stood at 139 points in ...