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ABU DHABI / WAM The third edition of the Aqdar World Summit is set to kick-off this month in the Russian capital Moscow, featuring a high-profile UAE delegation taking part to discuss the global empowerment of communities. Held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of ...

Bloomberg South Sudan has made a new crude find in the northern oilfields of Adar and plans production by the end of the year, Information Minister Michael Makuei Lueth said. The oil will be linked to the nearby Paloch oilfields that are managed by Dar Petroleum Operating Co., Lueth said on Monday by phone from the capital, Juba. Petroleum Minister ...

Bloomberg Businesses located in some of Manila’s offices, hotels and casinos could lose their investment incentives over the next five years as the Philippines looks to overhaul its corporate taxation. Under a new bill, the government wants to phase out its current set of tax perks, among Southeast Asia’s most generous, and businesses will have to reapply for incentives that ...

Bloomberg Buyers are circling Axiata Group Bhd.’s wireless tower business, even as the Southeast Asia telecom giant presses ahead with plans for a broader merger with Telenor ASA’s Asian operations, people with knowledge of the matter said. Axiata has received preliminary expressions of interest in recent months about a potential takeover of its Edotco Group Sdn. unit, according to the ...

Bloomberg The UK will have the opportunity to make a trade deal with Southeast Asian nations, including the world’s top palm oil producers, once it leaves the European Union, and to steer clear of getting entangled in any potential trade war, according to Malaysian Prime Minister Mahathir Mohamad. “The key is to rethink the European Union’s misguided policy on palm ...

Bloomberg Thailand’s economy grew at the slowest pace in almost five years in the second quarter as exports and tourism were buffeted by US-China trade tensions and a strong local currency. Gross domestic product (GDP) rose 2.3% from a year ago, down from 2.8% in the first quarter, the National Economic and Social Development Council said on Monday. That’s the ...

Bloomberg SoftBank Group Corp. is planning to lend as much as $20 billion to its employees to buy stakes in its second venture capital fund following the success of an earlier $100 billion fund to invest in tech start-ups, the Wall Street Journal reported. The second Vision Fund aims to raise $108 billion, SoftBank said earlier. In addition to its ...

Bloomberg Hong Kong’s jobless rate rose for the first time since 2017 in July, led by weakness in the retail and restaurant industries as the government warned of further pressure on the city’s slumping economy in the months ahead. The seasonally adjusted unemployment rate rose to 2.9%, including a “relatively notable increase” in the food and beverage service sector, the ...

Bloomberg Japanese exports fell for an eighth straight month in July, weighed down by shipments of auto parts and semiconductors, as slowing economic growth and trade battles raise fears of a global recession. The value of shipments abroad dropped 1.6% in July from a year earlier, according to the finance ministry. Economists surveyed by Bloomberg had estimated a 2.3% drop. ...

Bloomberg Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Finance Minister Olaf Scholz suggested Germany could muster 50 billion euros ($55 billion) of extra spending in an economic crisis, putting a number on a possible fiscal stimulus for the first time. While Scholz signaled that action by Germany isn’t imminent, ...