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Dubai / WAM DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, inaugurated the ‘DMCC Coffee Centre’ on Monday, during Gulfood 2019. The state-of-the-art 7,500 square metre temperature-controlled facility is the first of its kind in the Middle East. From crop to cup, the Centre offers cost-effective logistical support and services that connect ...

Bloomberg TransCanada Corp. was partly denied a request to continue some pre-construction work on the Keystone XL oil pipeline while a dispute over the project’s environmental review wends its way through the courts. The company won’t be allowed to prepare sites for construction camps, but it will be allowed to prepare pipeline-storage and container yards and receive pipe at those ...

Bloomberg Crown Prince Mohammed bin Salman said his country plans to invest a whopping $20 billion in Pakistan as he began a swing through Asia at a time when Saudi Arabia’s ties with the west have waned. The two nations signed memorandums of understanding in the energy and agriculture sectors, including one for a $10 billion oil refinery in southwestern ...

Bloomberg Thailand’s economy grew at a faster pace in the fourth quarter than the previous three months, as local demand helped to offset a slide in exports. Gross domestic product rose 3.7 percent from a year ago, up from a revised 3.2 percent in the third quarter, the National Economic and Social Development Council said on Monday. The median estimate ...

Bloomberg Singapore will boost spending on health care for its aging population, give some citizens a tax rebate and tighten restrictions on foreign workers ahead of an election that could come as early as this year. The government is projecting an overall budget deficit of 0.7 percent of gross domestic product in the year ending March 2020, compared with a ...

Bloomberg China’s space ambitions are shifting into a higher orbit. Following its successful and world-beating trip to the far side of the moon, China is preparing to build a solar power station in space, as the world’s No. 2 economy strives to burnish its superpower credentials. With an $8 billion annual budget for its space program, second only to the ...

Bloomberg Former Indian billionaire Malvinder Singh has filed a criminal complaint accusing his younger brother of siphoning funds from their family holding company and fraudulently diverting them to a renowned spiritual guru, the latest twist in the unraveling of a $2 billion empire. Shivinder Singh allegedly directed the holding company to acquire debt-ridden firms which collectively lent 10 billion rupees ...

Bloomberg India’s rupee has gone from being the best-performing Asian currency last quarter to the worst this year as rising crude prices and tensions over Kashmir weigh on sentiment. The currency has slumped 2.4 percent since the end of December, missing the rally in its regional peers on optimism over US-China trade talks. It slid to 71.515 per dollar on ...

Bloomberg Germany’s financial regulator took the unprecedented step of banning short sales of Wirecard AG shares for two months, saying recent price volatility risks undermining the broader stock market. The shares surged. Investors globally are prohibited with immediate effect from taking new short positions or increasing existing ones through April 18, according to watchdog BaFin. That’s the first time it ...

Bloomberg European carmakers’ share rally this year might hit a roadblock as a US probe of auto imports raises the potential of new tariffs, with underperforming German manufacturers particularly at risk. US Commerce Secretary Wilbur Ross submitted a report to President Donald Trump on whether vehicles made abroad pose a national-security risk, according to a statement. Trump will have 90 ...