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Bloomberg The contraction in the UK construction industry gathered pace in August as increased political uncertainty saw new orders fall at fastest pace in more than ten years. The sector shrank for a fourth-straight month as business optimism slipped to the lowest since the depths of the financial crisis in 2008, according to IHS Markit. The figures follow similarly disappointing ...

Bloomberg Talks between the economy ministers of Japan and France to strengthen the partnership between Nissan Motor Co and Renault SA are the latest sign that the two sides are working toward resolving a dispute between the carmakers. Hiroshige Seko, the economy and trade minister of Japan, and Bruno Le Maire, the French Finance Minister, reaffirmed their support for the ...

Bloomberg India’s longest growth slump since 2012 is heightening concern that it may be tough for policy makers to reverse the slowdown. “Growth has now slipped below the long term trend of 6.6 percent for two consecutive quarters, which implies that India is effectively in a quasi-recession,” Teresa John, an economist at Nirmal Bang Equities Pvt in Mumbai, said in ...

Bloomberg Huawei Technologies Co lashed out at the US government on Tuesday, accusing Washington of orchestrating a campaign to intimidate its employees and launching cyber-attacks to infiltrate its internal network. China’s largest technology company claimed the American government had instructed law enforcement agencies to threaten and attempt to manipulate its employees. Huawei also accused the US of launching attacks against ...

Bloomberg Global electric-car sales fell for the first time in modern history in July after China scaled back purchase subsidies, highlighting the role government assistance is having on the burgeoning market. Monthly sales worldwide fell 14 percent to about 128,000 plug-in passenger electric vehicles, Sanford C Bernstein said in a report. Sales declined in China and North America, while rising ...

Dubai / WAM Hazzaa AlMansoori, the first Emirati astronaut to travel to the International Space Station (ISS) on September 25, and Sultan AlNeyadi, the back-up astronaut for the same mission, successfully completed their final tests for the mission at the Yuri Gagarin Cosmonaut Training Center, in Star City, in Moscow. Each day of the exam started with the astronauts saluting ...

Bloomberg / WAM Emirates NBD Bank (Emirates NBD), on Monday announced its intention to increase Foreign Ownership Limit (FOL), to 40 percent in the future, and will seek necessary approvals from its shareholders and the relevant regulatory authorities, in due course. Emirates NBD also announced the implementation of an immediate increase in its FOL from 5 percent to 20 percent after ...

Bloomberg Opec’s crude production rose last month, the first increase since the group and its allies started a new round of output cutbacks at the start of the year to shore up a weak global market. Nigeria and Saudi Arabia led the boost by the Organisation of Petroleum Exporting Countries (Opec), which collectively increased by 200,000 barrels a day to ...

DUBAI / WAM Dubai Investments Park (DIP) is spurring up its investments towards the development of various infrastructure facilities, and has invested a total of AED1.5 billion ($41mn) since its inception. The enhancement projects are focused infrastructure investments across DIP and are termed top priority in line with ongoing community development planning initiatives. DIP currently offers over 140km of internal ...

Bloomberg Manufacturing across vast parts of Europe and Asia remain deeply mired in a crisis that took another turn for the worse over the weekend. One day after the US and China enacted new tariffs on each other’s imports, factories from Germany and Italy to Japan, South Korea and Taiwan sent a gloomy reminder that they are suffering badly from ...