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Bloomberg Lured by the sharp slump in rupee against the dollar, Indians living overseas may boost remittances to a record, helping bolster the nation’s efforts to support Asia’s worst-performing major currency. The country is expected to receive remittances of about $76 billion in 2018, 10 percent more than in the previous year, according to estimates by EbixCash, the financial exchange ...

Bloomberg Weaker-than-expected growth in South Korea’s economy is raising fresh questions about whether the Bank of Korea will get its long-awaited interest rate hike next month. While stronger net exports helped sustain expansion, a second-straight quarterly decline in corporate capital investment and a sharp drop in hiring are evidence that the economy is losing steam. Gross domestic product expanded 0.6 ...

Bloomberg Brands spend hundreds of millions of dollars each year trying to figure out what consumers want. Now Alibaba is offering to help by vacuuming data up from the legions of people shopping, searching and sharing on its various platforms and providing it to companies eager to create products that will resonate with Chinese consumers. In recent months, Alibaba has ...

Bloomberg Qualcomm Inc. is trying to steer a big chuck of its billion-dollar dispute with Apple Inc. over the use of fundamental technology for mobile phones away from what it sees as a sideshow over patents. At a hearing, Qualcomm asked a federal judge in San Diego to throw out as moot all claims by Apple related to nine “handpicked” ...

Bloomberg The US, Canada and Mexico remain at odds over metals tariffs, with Donald Trump’s envoy to Canada saying the president is reviewing them. Trump’s ambassador, Kelly Craft, argued the levies on steel and aluminum imports were designed to prevent overseas metal from entering America via its neighbors. “That is not something that is against Canada,” Craft said at an ...

Bloomberg Consumers drove the US economy to better-than-expected growth in the third quarter, but a steep slowdown in business spending raised concerns about whether the strength in the expansion is sustainable. The 3.5 percent annualised gain in gross domestic product, following 4.2 percent, marked the best back-to-back quarters since 2014, according to Commerce Department report. The rise in consumer spending, ...

Bloomberg Three former British traders were found not guilty of using an online chatroom to fix prices in the $5.1 trillion-a-day foreign exchange market. A federal jury in New York rejected the government’s claim that Richard Usher, Rohan Ramchandani and Christopher Ashton, a group known as “The Cartel,” rigged the market from 2007 to 2013 by coordinating trades and manipulating ...

Bloomberg Twitter Inc. topped estimates for earnings and revenue in the third quarter amid higher spending from advertisers, marking a much-needed boost for the social-networking site after months of scrutiny from lawmakers and criticism about fake or offensive accounts. The shares rose in early trading. Monthly active users averaged 326 million, San Francisco-based Twitter said in a statement. That’s a ...

Bloomberg Swedes became more pessimistic as the central bank prepares to raise interest rates for the first time in seven years and politicians struggle to form a government more than a month after the nation’s inconclusive election. The economic tendency indicator fell to 108.0 in October from 111.2 in September, the National Institute of Economic Research said. Analysts surveyed by ...

ABU DHABI / WAM Tedros Adhanom Ghebreyesus, Director-General of the World Health Organisation (WHO), in a message on World Polio Day, has thanked His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, for his continuous efforts to achieve polio-free world. HH Sheikh Mohamed bin Zayed in a ...