News

Bloomberg Sales of cars and SUVs in India slumped the most since October 2011, adding to a slew of bad news that points to a slowdown in the world’s fastest-growing major economy. Passenger vehicle sales in April fell 17.1 percent to 247,541 units from a year earlier, data released by the Society of Indian Automobile Manufacturers (SIAM) showed. Car sales ...

Bloomberg As the US-China trade war escalates, speculation is swirling over whether the Asian nation will honour purchases of American products including soybeans and cotton that are yet to be delivered. At least 10 bulk carrier cargoes are in transit, while at least one vessel managed to offload its US cargo on the weekend as tensions between Washington and Beijing ...

Bloomberg Allianz SE’s giant investment business saw managed assets grow to a record as clients added 18 billion euros ($20 billion) in the first quarter, reversing outflows at the end of last year. The new money lifted the amount the company oversees for outside clients to 1.55 trillion euros, Munich-based Allianz said on Tuesday. The insurer owns US bond giant ...

Bloomberg The European Union is finalising a list of American goods to target with retaliatory tariffs in the event that US President Donald Trump, who is expected to make a decision by May 18, imposes levies on car imports. “We are already preparing a list of possible items that would be on that list,” EU trade chief Cecilia Malmstrom said ...

Bloomberg Vodafone Group Plc’s dividend has cracked under the strain of falling revenue, soaring spectrum costs and a $21 billion acquisition, in a grim reality check for Europe’s struggling phone industry. The region’s biggest telecom carrier slashed its full-year dividend by 40% to 9 euro cents per share, reversing Chief Executive Officer Nick Read’s goal to keep the payout unchanged. ...

Bloomberg Economic growth in the Netherlands came in better than economists forecast in the first quarter, adding to the run of recent good numbers from the euro area. The first-quarter performance saw the region’s fifth largest economy grow 0.5% compared with the previous three months. That was just ahead of the 0.4% median forecast of economists. Expansion in the 19-nation ...

Bloomberg Consumers can press ahead with a lawsuit that accuses Apple Inc. of using its market dominance to artificially inflate prices at its App Store, the US Supreme Court ruled. The 5-4 decision could add to pressure the company faces to cut the 30% commission it charges on app sales. Lawyers pressing the case have said they will seek hundreds ...

Dubai / Emirates Business The UAE currently leads the Mena region in organisations adopting a holistic strategy towards sustainability, according to a study sponsored by Emirates NBD that sheds light on the practices of sustainability and Corporate Responsibility management in the region. The study, which was conducted by Sustainable Square, a boutique advisory firm specialised in responsible investment, sustainability and ...

Bloomberg Oil was caught between the specter of a full-blown US-China trade war damping demand and a supply backdrop ripe with potential risks. Futures in New York edged higher after swinging between a 0.7% loss and a 0.3% gain. US officials were expected to release details of additional tariffs of 25% on all remaining Chinese imports. That came after Beijing ...

Dubai / WAM Dubai Science Park (DSP) announced that it is leveraging its new built-to-suit model to construct a new Global Research Centre for Himalaya Drug Company, a producer of over 300 cosmetics, nutritional supplements, herbal medicines and pharmaceutical-grade Ayurvedic products in over 90 countries. The centre is due to open in 2021. The Himalaya Global Research Centre has been ...