News

Bloomberg A bullet train linking Singapore and Kuala Lumpur won’t be a reality for at least a decade as Malaysia’s Prime Minister Mahathir Mohamad seeks to pare his nation’s debt and review projects signed off by his predecessor Najib Razak. The neighbours agreed to delay kicking off work on the 350-kilometre (218 miles), multibillion dollar link until the end of ...

Bloomberg Regions around Osaka, Japan’s second biggest population centre, struggled to recover from damage left by Typhoon Jebi, which left 10 people dead, hundreds of thousands of buildings without power and the area’s main airport closed. Kansai International Airport, a key transport and cargo hub that lies on an artificial island in Osaka Bay almost directly in the typhoon’s path, ...

Bloomberg Ford Motor Co. has stopped running national ads for the Fusion and Focus sedans it’s killing and put more marketing muscle behind the Mustang, a decision that paid off with a 35 percent sales jump for the pony car last month. “Those are the kind of things you’re able to do when you narrow the focus of your lineup,” ...

Bloomberg Bayer AG’s $63 billion Monsanto purchase has suffered regulatory delays, mounting legal claims and now will yield lower earnings for the year than earlier forecast. Still, the company’s CEO says he has “no regrets.” The German company lost out on revenue from Monsanto’s busy spring season, when farmers in the Northern Hemisphere plant the bulk of their crops, because ...

Bloomberg JM Holding GmbH, a German family-owned investment vehicle, is exploring options including a partial sale of the business that controls two plastics companies, according to people with knowledge of the matter. A sale of about half of the firm, which is under consideration by some of the owners, would give buyers an equal proportion of two closely held German ...

Bloomberg The British and German governments have abandoned key Brexit demands, potentially easing the path for the UK to strike a deal with the European Union, people familiar with the matter said. The pound rose. Germany is ready to accept a less detailed agreement on the UK’s future economic and trade ties with the EU in a bid to get ...

DUBAI / WAM The UAE ranks highest globally in halal tourism spending with an estimated $17.6 billion spent by UAE residents outside the country during 2017, new analysis from Dubai Chamber of Commerce and Industry has revealed. Saudi Arabia and Kuwait ranked second and third, respectively, according to the analysis which was based on recent data from Mastercard and the ...

DUBAI / WAM Dubai Mercantile Exchange (DME), the premier international energy futures and commodities exchange in the Middle East, announced the launch of eight new oil listings following completion of the regulatory review. Among the new products offered by DME is the Oman Crude Oil/Platts Dubai Crude Oil Futures contract (code DOP) which helps customers match their hedging exposure for ...

ABU DHABI / WAM A total of 274 cyberattacks targeted government, semi-government and private sector entities in the UAE during the first seven months of the year, 39 percent down as compared to the corresponding period in 2017, according to the Telecommunications Regulations Authority (TRA) statistics. The decline in reported attacks is attributed to the efforts made by the Computer ...

LONDON / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met a delegation of British investors, as part of his official visit to Britain. The meeting tackled the growing historical relations between the UAE and Britain and ways to further enhance them and develop aspects of joint cooperation between the two countries ...