News

Bloomberg China didn’t follow proper procedures when it imposed trade restrictions on agricultural imports, the World Trade Organization (WTO) said in a ruling that bolsters President Donald Trump’s dispute against Beijing. China used a flawed and opaque approach when it administered tariff-rate quotas for rice, wheat, and corn, the Geneva-based arbiter of global trade disputes said on its website. It’s ...

Bloomberg Porsche AG is exploring joint projects with Chinese technology giants including Tencent Holdings, Alibaba Group Holding Ltd and Baidu Inc to expand digital offerings in its largest market and bolster sales. Country-specific features for voice recognition, navigation and integration of the ubiquitous WeChat messaging service will be developed locally, Porsche Chief Executive Officer Oliver Blume said in an interview ...

Bloomberg Ford Motor and Mahindra & Mahindra agreed to co-develop a mid-size sports utility vehicle (SUV) for India and emerging markets in an effort to sustain profitability in the world’s third-biggest car market. The new SUV will have a common Mahindra product platform and powertrain, helping to reduce product development costs and gain economies of scale, Mahindra and Ford said ...

Bloomberg SoftBank Group International Chief Financial Officer Alok Sama will step down from his post, according to an internal memo seen by Bloomberg News. He will remain a senior adviser at the company, according to the memo, which didn’t provide a reason for his departure. Sama led the execution teams for the $59 billion merger of Sprint and T-Mobile and ...

Bloomberg Japan’s rapidly-aging society will see a quarter of its breadwinners turn 75 or older by 2040, the Nikkei reported, citing a study from the National Institute of Population and Social Security Research. The number of people living alone who are 75 or older will top 5 million.

Bloomberg President Donald Trump’s bid to dump a glut of liquefied natural gas (LNG) on Europe is getting an unlikely boost: stringent regulations on shipping emissions that are prompting the continent’s shipyards to hunt for alternatives to high-polluting diesel. The International Maritime Organization will clamp down next year on sulfur and carbon emissions from diesel-powered ships. That’s sparked a hunt ...

Bloomberg Europe’s consumer-goods giants are showing new signs of life by selling more food and cleaning supplies, even at higher prices. Nestle SA and Unilever surprised investors with strong starts to the year, reporting first-quarter sales growth that handily topped analysts’ estimates. The Swiss maker of KitKat bars and the Anglo-Dutch owner of Dove soap each cited a combination of ...

Bloomberg Pinterest Inc.’s message to investors was don’t compare us to social media or a search engine. The outcome was that it raised about $1.4 billion in an above-range initial public offering. Pinterest operates in a crowded digital marketing space, where Google and Facebook Inc. get the lion’s share of ad dollars, and a smattering of smaller platforms like Twitter ...

ABU DHABI / WAM In his capacity as Ruler of Abu Dhabi, President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has issued a law amending provisions of Law No. 19 of 2005 concerning real estate sector in Abu Dhabi. The new law stipulates amendments to Articles 3 and 4 of the ‘Real Property Law’. Article 3 (i) stipulates the ...

Abu Dhabi / WAM The International Monetary Fund (IMF) has forecast the UAE’s nominal gross domestic product (GDP) to grow 4.7 percent to AED 1.673 trillion ($460 billion) in 2019, compared to AED 1.589 trillion a year ago. The GDP growth is reflective of the economic diversification efforts made by the country, according to the Washington-based fund. Driven by remarkable ...