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Bloomberg Thailand and Indonesia are at risk of losing a special trade status that gives developing economies preferential access to the US market, according to Maybank Kim Eng Research. Thailand is the second-biggest beneficiary of the decades-old program, known as the Generalised System of Preferences (GSP), while Indonesia is the fourth-largest, Maybank analysts led by Chief Economist Suhaimi Ilias said ...

Bloomberg European Union leaders plan to underscore the importance of the fight against climate change when they meet next week, though their words will stop short of a mandate to move towards zeroing out fossil fuel emissions. Heads of government will pledge “building a more climate-friendly, neutral, green, fair and inclusive future” at the summit in Brussels on June 21 ...

Bloomberg The US budget deficit widened to $738.6 billion in the first eight months of the fiscal year, a $206 billion increase from a year earlier, despite a revenue boost from President Donald Trump’s tariffs on imported merchandise. The shortfall was 38.8 percent more than the same period a year ago, the Treasury Department said in its monthly budget review. ...

Bloomberg Some of the US’s biggest pharmaceutical companies sued the Trump administration to try and block a rule that would force them to put the price of their drugs in television advertisements. In the lawsuit filed in federal court, Merck & Co, Eli Lilly & Co, Amgen Inc and an advertising trade association claim that the Department of Health and ...

Bloomberg Canadian exporters are reporting widespread concerns about a global recession, with sentiment in the sector falling to the lowest level in seven years, according to a survey by the country’s export financing agency. Export Development Canada’s trade confidence index, a composite gauge based on a bi-annual survey of 1,000 businesses, dropped to 69.8, compared with 73.7 at the end ...

Bloomberg Allianz SE is making another bet on New York City’s Hudson Yards, buying into a second skyscraper in the development. The German insurer paid $384 million for a 49 percent stake in an office condo at 30 Hudson Yards, according to a statement. The transaction is part of a sale-leaseback with Related Cos., the co-developer of the $25 billion ...

Bloomberg Dish Network Corp, Charter Communications Inc and Altice USA Inc are among bidders for assets T-Mobile US Inc. plans to sell to win regulatory approval for its $26.5 billion takeover of Sprint Corp., according to people familiar with the matter. The companies are on a shortlist of bidders favored by the Justice Department, said the people, who asked to ...

Bloomberg PricewaterhouseCoopers was fined 4.55 million pounds ($5.8 million) by the UK’s accounting watchdog over failings in its handling of technology firm Redcentric Plc, giving fresh ammunition to critics calling for a breakup of the so-called Big Four auditing firms. The penalty was reduced from 6.5 million pounds after the company admitted its wrongdoing ahead of a final decision by ...

RIYADH / WAM The Official Spokesman for the Coalition to Restore Legitimacy in Yemen, Colonel Turki Al Malki, announced that a hostile projectile fired by the Houthi militia at 02:21 on Wednesday hit the arrivals hall at Abha International Airport through which thousands of passengers of different nationalities pass daily. The Saudi Press Agency (SPA) quoted Colonel Al Maliki as ...

ABU DHABI / WAM The UAE has strongly condemned the Houthi terrorist attack against Saudi Arabia’s Abha International Airport, which resulted in the injury of many civilians. In a statement, the MOFAIC said UAE strongly condemned this terrorist act which utilised military projectile capabilities, and deemed it as new evidence of the Houthi’s hostile and terrorist tendencies that seek to ...