News

Bloomberg Mitsubishi Materials Corp. became the second Japanese firm to be indicted by Tokyo prosecutors for falsifying product data, in a scandal that has rocked the nation’s prized reputation for manufacturing prowess. Three units of the Tokyo-based company — Mitsubishi Aluminum Co., Diamet Corp. and Mitsubishi Cable Industries Ltd. — were indicted on suspicion of breaching Japan’s unfair competition law, ...

Bloomberg Indonesian exporters must keep their earnings in the country to support efforts by the government to rein in the current-account deficit and shield the rupiah, Finance Minister Sri Mulyani Indrawati said. While legislation protects the free movement of capital, authorities want to tighten some rules on exporters amid a rout in the currency, Indrawati said. “In a situation in ...

Bloomberg Trade associations representing farmers, retailers and manufacturers are joining forces in a new multi-million-dollar campaign to oppose President Donald Trump’s tariffs, in the latest attempt by US business to stop an escalating trade war. Groups lobbying for months to persuade the president that tariffs are the wrong approach have been largely ignored, as Trump slapped duties on billions of ...

Bloomberg European Commission President Jean-Claude Juncker rejected a key plank of the UK’s post-Brexit blueprint, saying that Britain can’t stay in “parts” of the bloc’s single market. Still, he said he would work “day and night” for a divorce deal, boosting the pound. The pound erased losses as investors focused on the positive tone of Juncker’s comments. But his message ...

Bloomberg Tech platforms and internet activists protested the outcome of a European Parliament vote on Wednesday to back copyright rules that would help video, music and other rights holders seek compensation for use of their content online. Alphabet Inc.’s Google, Facebook Inc. and other tech firms may now be forced to negotiate licenses for content that appears on their sites ...

Bloomberg North Carolina corn farmer Darren Armstrong is racing to harvest as much as he can before potentially the worst storm in 64 years hits the state. It’s already one of the busiest times of the year for US growers as they reap what they sowed in the spring. Now, Armstrong and scores of other crop, poultry and livestock farmers ...

CAIRO / WAM The Secretary General of the Arab League Ahmad Aboul Gheit condemned on Tuesday the US administration’s decision to close the Palestine Liberation Organisation’s (PLO), office in Washington. In a statement issued on Tuesday, Aboul Gheit said that the decision came as part of a long series of US unfair policies towards the Palestinians aiming at terminating their ...

Bloomberg Dubai’s Emaar Properties PJSC denied reports that it’ll provide 10-year visas to investors in some of its projects. “The issuance of visas falls under the purview of the concerned authorities and Emaar does not have any role regarding the same,” the company said in a statement. Al Bayan newspaper reported on Tuesday that the developer will offer 10-year visas ...

Bloomberg The tariff battle with the US will probably cost China 700,000 jobs, or more in the event of further escalation. The job losses would come if the US imposes 25 percent tariffs on $200 billion in Chinese exports and China retaliates by devaluing its currency by 5 percent and adding to levies on US goods, according to economists led ...

Bloomberg Abu Dhabi’s stock exchange is joining a race to introduce derivatives as Gulf bourses including Kuwait and Saudi Arabia put strategies in place to lure more investors. The Abu Dhabi Securities Exchange (ADX) plans to enable trading of futures contracts on single stocks in 2019, and they may eventually be available for the benchmark ADX General Index, Chief Executive ...