News

Bloomberg The turmoil in India’s credit markets, brought on by defaults at a major infrastructure financier, will benefit the nation’s largest developer, allowing it to sell homes while peers struggle to get money to finish their projects. Gurugram-based DLF has adequate liquidity and access to capital to meet all of its obligations on time. It believes that it is well ...

Bloomberg A Hong Kong exhibition featuring an artist critical of China — as well as the band Pussy Riot and former protest leader Joshua Wong — has been cancelled because of “threats” by the Chinese authorities, the organier said. “The decision follows threats made by the Chinese authorities relating to the artist,” the organiser, Hong Kong Free Press, said in ...

Bloomberg Berkshire Hathaway Inc.’s insurers dodged the worst of losses caused by Hurricane Florence as the businesses kept up their rebound from a rough 2017. The company’s operating profit doubled last quarter, capitalising on trends ranging from more train traffic on its railroad to a surge in demand for electronic components. The biggest boost came from the insurance division, where ...

Bloomberg WPP Plc Chief Executive Officer Mark Read is off to a disappointing start for investors with a cut to the ad giant’s outlook, triggering the company’s biggest share slump in almost two decades. The owner of Ogilvy, Grey and J. Walter Thompson said it now expects sales to fall this year and its profit margin to decline as it ...

Bloomberg Apple Inc. shares had their worst day since 2014 amid concerns that growth in its powerhouse product, the iPhone, is slowing. In the fiscal fourth quarter, Apple said iPhone unit sales barely grew from a year earlier, even though new flagship devices came out in the period. At the same time, Apple said it would stop providing unit sales ...

Bloomberg German business sentiment deteriorated amid signs economic growth ground to a temporary halt and as risks surrounding a US-China trade spat and a disorderly Brexit increased. The Ifo institute’s gauge of corporate confidence fell to 102.8 in October after a drop to 103.7 in Sep- tember. The median forecast in a Bloomberg survey was for a decline to 103.2. ...

Bloomberg American workers enjoyed the biggest leap in pay since 2009 as job gains topped forecasts and the unemployment rate held at a 48-year low, a boost for President Donald Trump ahead of midterm elections and reason for the Federal Reserve to keep raising interest rates. Nonfarm payrolls rose 250,000 after a downwardly revised 118,000 gain, a Labour Department report ...

ABU DHABI / WAM The results of macroeconomic and sectoral indexes reflect a positive economic performance in Abu Dhabi, particularly at the level of non-oil activities, during Q2 of 2018, confirming rising levels of investor confidence and business optimism about the emirate’s economic outlook. This is revealed by Q2 economic follow-up report of results of the emirate’s macroeconomic and sectoral ...

ABU DHABI / WAM As part of its continuing commitment to efficiency and the adoption of cutting-edge technologies in its growing network of service stations, Adnoc Distribution, the UAE’s largest fuel and convenience retailer, has signed an agreement with Japan Cooperation Centre Petroleum (JCCP) to supply, install and pilot the use of a photovoltaic (PV) solar power system at one ...

ABU DHABI / WAM The UAE will on November 4, launch the Unified Customs Strategy, announced Ali Al Kaabi, Customs Commissioner and Head of the Federal Customs Authority. Al Kaabi said the strategy aims to support country’s security and customs systems, maintain community security and stability and improve UAE’s rankings in internatio-nal competitiveness indices. He stated the strategy will standardise ...