News

Bloomberg Grab, Southeast Asia’s largest ride-hailing app, is kicking off a new digital wallet service in Singapore as it stakes a claim to the region’s burgeoning mobile payments sector. Grab will enable its 4 million users in the city-state to scan a quick response, or QR, code to pay for local dishes such as chicken rice and prawn noodles at ...

Bloomberg The UK signalled it’s preparing to compromise over money in its stand-off with the EU, as a new round of Brexit talks offered the chance to break the deadlock. The deal on the divorce terms will probably be better for the remaining 27 EU countries than for Britain on the financial settlement, Brexit Secretary David Davis said. The first ...

Bloomberg UK manufacturing strengthened in October and measures of prices and capacity indicated an inflationary buildup within the industry. IHS Markit said costs rose and firms increased selling prices at the fastest pace in six months. A measure of hiring jumped to the highest in more than three years and there were “capacity pressures” in the supply of raw materials, ...

Bloomberg Best Buy Co. said it stopped some sales of Apple Inc.’s iPhone X and iPhone 8 after consumers complained about the retailer charging a $100 premium on the already expensive smartphones. The company, one of Apple’s key retail partners, still sells all iPhone models via carrier installment plans that let customers pay for the devices over several months. The ...

Bloomberg A weaker dollar is helping two US food giants break out of a prolonged sales slump. Kellogg Co. and Mondelez International Inc. both rallied after posting their first revenue growth in years, helped by currency tailwinds. The news signals that US food producers are finally getting some relief overseas, where the strong dollar—along with shaky local economies—had battered results. ...

Bloomberg The US Virgin Islands expects to receive $800 million in emergency loans from the $36.5 billion storm aid bill approved by Congress earlier this month, Governor Kenneth Mapp said. The first draw down will occur over the next 10 to 15 days and will go towards rebuilding essential infrastructure such as hospitals and its water and power systems. The ...

Bloomberg Facebook Inc., Google and Twitter Inc.— technology powerhouses actively cultivating their influence in Washington—received an unaccustomed grilling and even ridicule in their first appearance before Congress over Russian meddling in last year’s presidential campaign. Two hearings on Wednesday might bring more of the same for top attorneys from the companies, who were forced to acknowledge to a Senate Judiciary ...

DUBAI / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has issued Law No. 15 of 2017 regulating inheritance, wills and probate for non-Muslims. The law, which is applicable to the wills and assets of non-Muslims based in Dubai including the Dubai International Financial Centre (DIFC) creates a ...

Abu Dhabi / WAM Al Jazira Sports and Cultural Club and Majid Al Futtaim officially broke ground, on Tuesday, on City Centre Al Jazira, the new AED1.4-billion lifestyle destination coming to Abu Dhabi. The new project will bring to the capital an integrated shopping, lifestyle and entertainment destination, contributing to Abu Dhabi’s vision that aims to develop a competitive, sustainable ...

Bloomberg The International Monetary Fund expects the UAE economic growth to nearly triple next year as Abu Dhabi benefits from an expected recovery in oil exports. The UAE’s GDP will expand 3.4 percent in 2018 from 1.3 percent this year, largely on expectations that growth in oil-rich Abu Dhabi will surge to 3.2 percent from 0.3 percent this year. Dubai’s ...