News

Dubai / WAM Visitors from around the world will be wowed by the German Pavilion that will take them on a unique and exciting educational journey through a ‘world of sustainability’ at Expo 2020 Dubai. The design of the pavilion and its theme, ‘Campus Germany’, were revealed on Wednesday at an event in Dubai, attended by Ernst Peter Fischer, Ambassador ...

Bloomberg Alibaba Group Holding Ltd. co-founder Jack Ma cautioned China’s business and political leaders to prepare for the trade war with the US to last longer and have a bigger impact than most people think. China’s richest man said the dispute could last 20 years and persist beyond the presidency of Donald Trump, as the world’s two strongest economic powers ...

Bloomberg China’s holdings of US Treasuries fell to a six-month low in July, just as a trade war between the world’s two largest economies began heating up. China’s ownership of US bonds, bills and notes slipped to $1.17 trillion, the lowest level since January and down from $1.18 trillion in June, according to data released by the Treasury Department. Japan, ...

Bloomberg SK Holdings Co. is acquiring the largest foreign stake in Masan Group Corp. for about $470 million, in a deal that will value the Vietnamese diversified business group at about $5 billion. The South Korean group, which has businesses ranging from telecommunications to service sectors, will buy Masan Group’s entire 109.9 million treasury shares for $4.29 each, the companies ...

Bloomberg Chinese art and antiquities have been spared from President Donald Trump’s tariffs. At least so far. Trump ordered his administration to impose 10 percent tariffs on $200 billion in Chinese goods next week and to raise the rate to 25 percent in January if Beijing refuses to offer trade concessions. Among items removed from the initial list of goods ...

Bloomberg The World Bank and China have held talks on how they can finance projects in Africa together, the lender’s vice president for the continent said. “We think it’s a good thing the continent has different sources of financing,” Hafez Ghanem said in an interview in Abidjan. “In my discussions with the Chinese authorities, we were looking at how we ...

Bloomberg The trade dispute between the US and China will continue for the foreseeable future and escalate, and is going to be painful for Americans, according to a former US trade negotiator. “For the foreseeable future, we’re going to be in a tariff world and we’ll see escalation,” said Asia Society Vice President Wendy Cutler, formerly a negotiator at the ...

Bloomberg A so-called Brexit without a trade deal between the UK and the European Union could cost the car industry and consumers at least $6.7 billion a year in vehicle tariffs, according to a report by a British industry group. The Society of Motor Manufacturers and Traders said the estimate is based on levies of 10 percent on cars exports ...

Bloomberg Tesla Inc. could raise funds as soon as this year as Elon Musk’s company ramps up production and prepares for maturing debt, analysts at Morgan Stanley predict. The company, whose stock has slumped 25 percent in the past six weeks amid a string of controversies, could raise $2.5 billion in equity in the fourth quarter from investors that have ...

Bloomberg The European business of coffee chain Starbucks Corp. paid an effective UK tax rate of 2.8 percent last year after a payment from another part of the company boosted profits, the Financial Times reported. The company paid $5.9 million in UK taxes on a profit of $213 million in the year ended October 2017, down from earnings of $219 ...