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Bloomberg South Korean trade officials will discuss the country’s developing-nation status at the World Trade Organization with American counterparts this week, Yonhap News Agency reported. Trade Minister Yoo Myung-hee will reach out to the US, and the issue will be addressed at an economy ministers’ meeting soon, the report said, citing Finance Minister Hong Nam-ki. In July, Trump accused some ...

Bloomberg The trade spat between India, the world’s biggest palm buyer, and Malaysia seems to be escalating, with an influential processors’ group in Mumbai asking its members to refrain from buying the tropical oil from the second-largest producer. Malaysian PM Mahathir Mohamad last month told the United Nations that India “invaded and occupied” Kashmir. Since then, many Indian buyers of palm ...

Bloomberg The global collapse in coal prices this year has dealt a particularly heavy blow to miners in Indonesia, the top exporter and one of the largest producers of the fuel. Bonds from the country’s financially weak miners have suffered more than peers elsewhere in Asia due to a lack of diversification and state backing that many competitors enjoy. Prices ...

Bloomberg The world has more than enough coffee, and Indonesia is looking to add to the glut. The coffee industry in the No. 3 producer of robusta is on a mission to boost output at a time when production is soaring and prices are tumbling. Farmers are expected to reap 50%-60% more beans within the next five years, said Pranoto ...

Bloomberg Hong Kong Chief Executive Carrie Lam’s plan to relax mortgage rules for first-time buyers appears to have already spurred sentiment, with the city recording its best weekend for home sales since April. The 10 biggest housing estates tracked by Centaline Property Agency Ltd recorded 20 sales, more than three times the weekend before. That’s despite violent protests that have ...

ABU DHABI / WAM The UAE-founded ‘ekar’ has announced a partnership with Masdar to bring electric vehicle car-sharing to the Middle East by purchasing five Tesla models S and X for its fleet, with the vehicles available for hire from Masdar City in Abu Dhabi. “Masdar City installed first rapid charging station for electric vehicles in the Mideast,” said Yousef ...

Bloomberg Kuwait expects to sign an agreement with Saudi Arabia to restart oil production from the neutral zone along their border within 30 to 45 days, according to a person familiar with the matter. The pact, reached after months of intensive negotiations, won’t be final until it’s signed, the person said, asking not to be identified as the talks are ...

Dubai / Emirates Business Investors are keen to capitalise on the increasing opportunities in the aviation sector globally, according to industry experts. “Over the past decade, as the global economy has improved, airlines have grown in profitability, matured in terms of employing better capacity management and cost controls, and have benefitted from the explosion in demand for passenger air travel,” ...

Bloomberg Saudi Arabian stocks rose the most in the Gulf as the country’s oil giant delayed a long-awaited initial public offering (IPO), easing a sell-off of other stocks intended to fund purchases in the share sale. The Tadawul All Share Index climbed as much as 2.3%, recovering from a loss of 0.8% last week and trimming losses in October to ...

Bloomberg Global finance ministers and central bankers pledged to use all their tools, including fiscal policy, to support demand amid a “highly uncertain” outlook and elevated risks. “The outlook is highly uncertain and subject to elevated downside risks,” including trade tensions, policy uncertainty and geopolitical risks, according to a communique issued by the International Monetary and Financial Committee (IMFC), the ...