News

Bloomberg Mazda Motor Corp. named Akira Marumoto its next chief executive officer to lead a revival in earnings growth in the face of a slowing US market. Marumoto, an executive vice president who heads operations in the US, will replace Masamichi Kogai after the change is ratified at an annual shareholder meeting on June 26, Mazda said. Kogai will become ...

Bloomberg President Donald Trump’s plan to lower US drug prices avoids some of the harshest steps that the pharmaceutical industry and the network of companies that distribute its products feared. Calling his proposal the most sweeping attempt in US history to lower drug prices, Trump wants to increase competition for medicines, cut list prices and reduce patients’ out-of-pocket costs. Yet ...

Bloomberg US consumer prices rose by less than forecast in April as costs for automobiles and airfares declined, reducing chances that inflation will run significantly above the Federal Reserve’s target in coming months. The consumer-price index advanced 0.2 percent from the prior month after a March decline of 0.1 percent, a Labor Department report showed, compared with the Bloomberg survey ...

Bloomberg Investors gave a resounding thumbs-down to the partial spinoff of Axa SA’s US business, dealing a blow to boss Thomas Buberl’s strategy for the French insurer. The sale of part of its US operations raised almost $1 billion less than the company had hoped for, and comes amid concern among shareholders at the $15.3 billion takeover of XL Group ...

Bloomberg 21st Century Fox Inc., Rupert Murdoch’s film and TV company, reported weaker earnings in its latest quarter, even as a looming deal to offload most of its entertainment assets took the focus off the results. Excluding some items, profit amounted to 51 cents a share last quarter, New York-based Fox said. That missed the average of analysts’ estimates of ...

DUBAI / WAM The Emirates Group on Wednesday announced its 30th consecutive year of profit and steady business expansion. Released in its 2017-18 annual report, the Emirates Group posted a profit of AED4.1 billion ($1.1 billion) for the financial year ended on March 31, 2018, up 67% from last year. The group’s revenue reached AED102.4 billion, an increase of 8% ...

DUBAI / WAM The Dubai Chamber of Commerce and Industry on Wednesday hosted the UAE-Moldova Business Forum on its premises, which was attended by a high-level Moldovan delegation led by Chiril Gaburici, the country’s Minister of Economy and Infrastructure. The forum, organised in cooperation with Moldova Investment and Export Promotion Organisation (MIEPO) highlighted attractive trade and investment opportunities in Moldova, ...

ABU DHABI / WAM The Department of Energy— Abu Dhabi, held Zayed Energy Retreat titled “A New Energy Era” during the retreat held by the Department for its affiliate entities working in the sector. During a two-day event, the department discussed its latest developments and plans as well as the details of its orientation towards achieving the vision of the ...

DUBAI / WAM Dubai Land Department (DLD) through its investment arm the Real Estate Investment Management and Promotion Centre, has hosted several meetings with government officials and Egyptian investors as part of the centre’s visit to Egypt. The visit was part of DLD’s efforts to discuss possible cooperation opportunities between the two countries in the field of investment through the ...

DUBAI / Emirates Business Dubai’s foreign trade in perfumes and beauty products in 2017 was worth AED20 billion, with imports accounting for AED11.5 billion, and exports and re-exports for AED 8.34 billion. The total volume of perfumes and beauty products traded reached 733,000 tonnes. This was according to statistics released by Dubai Customs at Beautyworld Middle East 2018, which is ...