News

Bloomberg The rupiah slid the most in eight months, leading losses among Asia’s emerging-market currencies, amid rising concern global growth is slowing. Indonesia’s central bank said it intervened to limit a sell-off in the currency and local bonds. The rupiah tumbled as much as 1.4 percent, the biggest intraday drop since June, to hit a two-month low of 14,335 per ...

Bloomberg India’s business titans are facing a worrying new development: in recent weeks, shadow lenders have been cutting them off from a key financing channel. Company founders have long fueled dreams to expand their business empires with loans they get by pledging stakes in their firms. But recent scares have prompted at least two major shadow banks to turn off ...

Bloomberg Confusion around which goods will be subjected to UK import tariffs in a no-deal Brexit is exasperating companies as they seek to finalise preparations for the split. The government will reveal details of the plan only if Prime Minister Theresa May’s deal to quit the European Union is rejected by Parliament next week, an official said, without providing a ...

Bloomberg Canada’s economy posted its second-straight surprise job surge, making the labour market a lone bright spot for an economy in the middle of a sharp slowdown. Employment increased by 55,900 in February, all full-time jobs, Statistics Canada said in Ottawa, building on a 66,800 gain in January. The two-month gain is the best start to a year since 1981. ...

Bloomberg Spotify Technology SA and other technology giants appealed a ruling that increased the royalties they must pay to songwriters, a move that threatens to further damage the companies’ already-tenuous relationship with the music industry. Songwriters celebrated last year when the Copyright Royalty Board ruled that they will get at least a 15.1 percent share of streaming revenues over the ...

Bloomberg The command center at the Otto Junker GmbH metals plant stands in sharp contrast to the noisy and smelly factory floor, where until just a few weeks ago workers operated various machines individually. The new digs are quiet, there’s no oil stench, and there’s even room for a coffee maker. The downside? The control room boss may end up ...

DUBAI / WAM In 2018, Dubai external trade through the Dubai Creek made AED14.54 billion ($3.96 billion) (AED13 billion in re-exports, AED1.246 billion in exports, and AED328 billion in imports), according to Dubai Customs chief. Dubai Customs always provides support to the maritime sector towards a more diversified economy in line with the Dubai Plan 2021. This helps in facilitating ...

Bloomberg Opec crude oil shipments to the world’s largest economy sank to a thirty-year low as part of an effort by the cartel and its allies to balance supplies and counteract America’s shale boom. Opec supply cuts that started in 2017 were extended in 2018. The end result was Saudi Arabia cutting exports to the US by 9 percent to ...

Dubai / Emirates Business Al Habtoor Motors the exclusive distributor of Mitsubishi Motors in the UAE, has launched the much awaited all-new 2019 L200 pick-up truck at Habtoor Grand Resort. The exciting unveiling was attended by motoring enthusiasts, members of the media, fleet & business customers and top management of Al Habtoor Motors and representatives from Mitsubishi Motors Middle East ...

Abu Dhabi / Emirates Business Under the patronage of His Highness Sheikh Hazza bin Zayed Al Nahyan, Vice Chairman of the Abu Dhabi Executive Council, Bett Middle East and Africa region (MEA) is back with a two-day education technology summit and expo in partnership with Abu Dhabi Department for Education and Knowledge (Adek) and in collaboration with their Worldwide Partner ...