News

Bloomberg China’s first official economic gauge for March signalled a stabilisation in the world’s second-largest economy, easing one of the biggest worries for the global outlook. The manufacturing purchasing managers index rose to 50.5 from 49.2 last month, the biggest increase since 2012 and exceeding all estimates by economists. Both new orders and new export orders — leading sub-gauges that ...

Bloomberg China continues to suspend retaliatory tariffs on US autos and car parts from April 1. The end date for the suspension may be given at a later date, the Ministry of Finance said in a statement on its website. It added that China hopes to continue talking with the US about trade issues and to make efforts to end ...

Bloomberg First came a type of cumin-flavoured sparkling water. Next up is a mix of unripe mangoes and spices. After that could be buttermilk. Then maybe some potions based on a 2,000 year-old system of traditional medicine. That’s a rough outline of Coca-Cola Co’s strategy in India as it tries to outrun the global decline in consumption of sugary sodas. ...

Bloomberg Some ex- Tata Group executives have teamed up with a veteran investor to seek to bring change at Indian companies, in a rare attempt to influence management in a country where shareholder activism has largely failed to take hold. Former Tata employees including Mukund Rajan and Govind Sankaranarayanan have partnered with Ajit Dayal, the founder of mutual fund firm ...

Bloomberg A rare public protest in Singapore underscored mounting anger among investors set to suffer sharp losses in one of the country’s highest-profile corporate debt restructurings. The catastrophic slump of the once-vaunted water and power company, Hyflux Ltd, has stunned debtholders, who stand to lose about 90 percent. About 400 to 500 of those individual investors gathered in a downtown ...

Bloomberg Facebook Inc Chief Executive Officer Mark Zuckerberg called for new global regulations governing the internet, recommending overarching rules on hateful and violent content, election integrity, privacy and data portability. In a statement that was also published as an op-ed in the Washington Post, Zuckerberg said the company is seeking regulations that would set baselines for prohibited content and require ...

Bloomberg PSA Group and Fiat Chrysler Automobiles are exploring a partnership to share investments to build cars in Europe, according to people familiar with the talks. The French carmaker and its Italian-American peer have been holding preliminary discussions to collaborate on a “super platform” — the basic underpinning of a car model — to reduce their investment costs in the ...

Bloomberg Colgate-Palmolive Co is among bidders for the consumer arm of Nestle SA’s skin-health business, people familiar with the matter said, joining an auction process that’s been dominated by private equity firms. Colgate and Unilever NV are both bidding for the consumer-focussed part of Nestle’s business, which includes brands such as Cetaphil moisturisers and cleansers and the Proactiv acne treatment, ...

Bloomberg Luxembourg’s PM Xavier Bettel joked that Brexit is like Samuel Beckett’s “Waiting for Godot.” Unfortunately, many UK citizens in the Grand-Duchy have become the protagonists in a tragicomedy of their own. Since the June 2016 referendum, there’s been an influx of finance workers fleeing the City of London. But other Britons, employed at EU institutions, were essentially forced to ...

DUBAI / WAM The UAE gross domestic product (GDP), grew by 1.7 percent in 2018 at constant prices of 2018 as compared to 2017, said Sultan bin Saeed Al Mansouri, Minister of Economy, on Saturday citing preliminary macro-economy indexes issued by the Federal Competitiveness and Statistics Authority (FCSA), for last year. Al Mansouri noted that the improvement in the UAE’s ...