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Abu Dhabi / WAM Data released by the Statistics Centre – Abu Dhabi, noted a 0.8% decrease in the Consumer Price Index for the period from January through August, reaching 111.1% compared to 111.9% in the comparable period of 2018. The monthly publication released by SCAD provides an analysis of the Emirate’s CPI with the base year being 2014. SCAD ...

Abu Dhabi / WAM The Joint Committee for Media Cooperation of the Saudi-Emirati Coordination Council held its first meeting in Abu Dhabi, under the chairmanship of Turki Al Shabana, Saudi Minister of Media, and Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State and Chairman of the National Media Council. The meeting aimed at developing media strategies, joint plans ...

Bloomberg China’s slowdown is deepening just as risks for the global economy mount, piling pressure on the authorities to do more to support growth. Industrial output rose 4.4 percent from a year earlier in August, the lowest for a single month since 2002, while retail sales came in below expectations. Fixed-asset investment slowed to 5.5 percent in the first eight ...

Bloomberg JSW Steel Ltd, India’s most valuable steel producer, is predicting declines for iron ore next year as demand from biggest consumer China eases and supplies recover. Prices may trade between $80 and $85 a ton for the rest of 2019 before sliding to $60 to $65 next year, Seshagiri Rao, joint managing director of the Mumbai-based mill, said. The ...

Bloomberg A unit of Reliance Communications Ltd, Anil Ambani’s distressed telecom firm, has filed for bankruptcy protection. GCX Ltd, which owns the world’s largest private undersea cable system, is the latest company owned by the tycoon to stumble. The former billionaire’s Reliance Communications itself fell back into bankruptcy earlier this year. The move by subsidiary GCX comes after it missed ...

Bloomberg Global trade in services slowed during the first quarter of 2019, according to a new World Trade Organization (WTO) report. The report describes a “broad loss in momentum” among various services sectors like finance, technology, tourism and transportation. The index stood at 98.4, below the baseline of 100, “suggesting that services trade continued to face strong headwinds leading into ...

Bloomberg The Hong Kong bourse’s unsolicited takeover bid for the London Stock Exchange (LSE) Group Plc was greeted with a scathing rejection and the exchange suffered a further humiliation when China praised the rebuff as well. The official People’s Daily wrote that there are “persistent worries” about Hong Kong given the current unrest, and praised the LSE for citing its ...

Bloomberg Apple Inc fights the world’s biggest tax case in a quiet courtroom, trying to rein in the European Union’s powerful antitrust chief ahead of a potential new crackdown on internet giants. The iPhone maker can tell the EU General Court in Luxembourg that it’s the world’s biggest taxpayer. But that’s not enough for EU Competition Commissioner Margrethe Vestager who ...

Bloomberg Blackstone Group Inc added new properties in Germany and The Netherlands with the purchase of a Canadian real estate trust, in deal valued at C$6.2 billion ($4.7 billion) including debt. The New York-based private equity firm agreed to pay C$16.79 a share in cash for Dream Global Real Estate Investment Trust, according to a statement from the companies. The ...

Bloomberg Equity markets will face significant damage in a no-deal Brexit unless the European Union reverses a plan to block traders in its home territory from using London exchanges, the UK’s top market watchdog said. Andrew Bailey, the Financial Conduct Authority’s chief executive, called on the EU to urgently rethink its position before October 31, when Britain is scheduled to ...