News

Bloomberg India, the world’s top sugar producer after Brazil, is considering a proposal to provide 45 billion rupees ($617 million) assistance to sugar mills to boost exports and cut domestic surplus next year. The government plans to provide a subsidy of 13.88 rupees per 100 kilograms of cane to sugar mills in the year starting from October 1, compared with ...

Bloomberg One of the top 10 shareholders in Japanese drugmaker Takeda Pharmaceutical Co. is “skeptical” on the value that will be created from the group’s $62 billion takeover of rare disease specialist Shire Plc, the Sunday Times reported, citing the unidentified investor. The deal, the biggest in Osaka-based Takeda’s history, has already faced opposition from a group of investors that ...

Bloomberg Still bruised from a typhoon that grounded hundreds of flights, Hong Kong’s status as Asia’s top aviation hub faces a new threat: Chinese bullet trains. The world’s longest high-speed rail network extends to downtown Hong Kong starting on Sunday, providing a direct connection to 44 mainland destinations. With the addition of services from Guangzhou and Shenzhen — the major ...

Bloomberg Comcast Corp. won a bidding war for Sky Plc with a $39 billion offer for Europe’s largest satellite broadcaster, staving off rivals 21st Century Fox Inc. and Walt Disney Co. to extend the US cable giant’s empire abroad. In a rare auction overseen by UK regulators, Comcast bid 10 percent more than Fox on Saturday, all but assuring that ...

Bloomberg Porsche AG will stop offering diesel versions of its cars, marking the latest blow for the technology that has come under intense scrutiny by regulators and environmental groups. Porsche will focus on gasoline, electric and hybrid vehicles because demand for diesel is declining, the Stuttgart, Germany-based manufacturer said in an emailed statement. For the sportscar manufacturer diesel “has traditionally ...

Bloomberg The US may have double the number of undocumented immigrants as commonly estimated, according to a new study that has the potential to further fuel the debate over one of the nation’s most politically charged topics. While the US government and several outside groups have put the number of undocumented migrants at about 11 million or 12 million, the ...

Bloomberg The iPhone XS is as much as $200 more expensive than last year’s already pricey iPhone X and represents one of the smallest advances in the product line’s history. But that means little to the Apple Inc. faithful or those seeking to upgrade their older iPhone. Hundreds of consumers lined up at Apple stores around the world either the ...

RIYADH / WAM The member countries of the Saudi-led Arab Coalition to Support Legitimacy in Yemen have provided a total of $17.6 billion worth of assistance in three years. “Out of this assistance, the Kingdom of Saudi Arabia, accounted for more than $11.5 billion,” said Dr Abdullah Al Rabeeah, the Supervisor-General of the King Salman Humanitarian Aid and Relief Centre, ...

Bloomberg China has called off planned trade talks with the US and is unlikely to sit down with Washington until after the mid-term elections, according to people familiar with the situation. Beijing has withdrawn a planned delegation to Washington next week, the people told Bloomberg. The Wall Street Journal earlier reported that China had scrapped plans to send Vice-Premier Liu ...

ABU DHABI / WAM Rashed Al Blooshi, Chief Executive of Abu Dhabi Securities Exchange (ADX), chaired the 43rd session of Arab Federation of Exchanges (AFE) meeting. The annual meeting of the AFE in its 43rd session took place in Abu Dhabi was attended a number of CEOs of Arab stock exchanges and chairmen of clearing and depository companies from all ...