News

Bloomberg China’s GCL-Poly Energy Holdings Ltd. sank to the lowest level in more than nine years as a deal for the company to sell a controlling stake in its polysilicon unit worth $1.9 billion to Shanghai Electric Group Co. fell apart. Shares of GCL-Poly in Hong Kong fell 7.6 percent to close at HK$0.61, the lowest since March 2009, paring ...

Bloomberg The Trump administration will consider partial exemptions from oil sanctions against Iran for some countries as a first wave of non-oil penalties against the Islamic Republic snap back into effect on Tuesday, US officials said. President Donald Trump is still willing to meet with Iranian President Hassan Rouhani at any time, without preconditions, as the US ramps up economic ...

Bloomberg After a weekend of claims by US President Donald Trump that he has the upper hand in the trade war with China, Beijing responded through state media by saying the nation is ready to endure the economic fallout. China is prepared for a “protracted war” and doesn’t fear sacrificing short-term economic interests, according to an editorial in the nationalist ...

Bloomberg Subaru Corp. reported a sales slide in the US, its largest market, and predicted a “big impact” from President Donald Trump’s proposed tariffs on imported vehicles following the escalation of a global trade war. Unit sales in the US dropped about 14 percent to 149,800 vehicles in the three months through June 30, the company said in a presentation. ...

Bloomberg Taiwan Semiconductor Manufacturing Co. blamed a crippling cyber-virus outbreak on a variant of the 2017 WannaCry ransomware, outlining how it shut several plants just as the company ramps up chipmaking for Apple Inc.’s next iPhones. Chief Executive Officer C. C. Wei said full operations have resumed and that the malware would reduce revenue this quarter by no more than ...

Bloomberg One of China’s largest appliance makers is preparing for the impact of US trade tariffs as it seeks to expand its international footprint. About 5 percent of products sold in the US by GE Appliances — a unit of Qingdao Haier Co. — are imported from China and face tariffs now or will get hit by those being proposed ...

Bloomberg Japan is considering implementing daylight savings time in 2019 and 2020 to cope with the intense summer heat, after soaring temperatures this year cast doubt over the ability of the country to safely host the 2020 Olympics, the Sankei newspaper reported. The government and ruling parties are seeking to pass a bill this autumn, according to the report, which ...

Abu Dhabi / WAM HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union, President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation, has said that the August 6, 1966, the date of the late Sheikh Zayed bin Sultan Al Nahyan’s accession as the Ruler of Abu Dhabi, will always remain ...

DUBAI / WAM United Arab Bank (UAB) announced the successful conclusion of its $185 million syn- dicated term financing facilities signed on July 30. The two-year bullet term financing facilities comprise a conventional facility and a commodity murabaha financing facility, each carrying a margin of 1.50 % p.a. over Libor. Both facilities have a 1-year extension option at the end ...

Bloomberg President Donald Trump defended his use of tariffs that have inflamed tensions with China and Europe, telling an audience of diehard supporters that playing hardball on trade is “my thing.” “We have really rebuilt China, and it’s time that we rebuild our own country now,” Trump said during about an hour of free-wheeling remarks at a rally outside Columbus, ...