News

Bloomberg China’s biggest-ever foreign acquisition frenzy is ending almost as dramatically as it began. After stunning the world with a record $246 billion of announced outbound takeovers in 2016, Chinese dealmakers are now struggling to cope with tighter capital controls and increasingly wary counterparties. Cross-border purchases plunged 67 percent during the first four months of this year, the biggest drop ...

Bloomberg India plans to develop roads in neighboring countries as it seeks to strengthen its position in South Asia amid the growing influence of China. State-owned National Highways Authority of India plans to build roads abroad even as it falls short of construction targets at home and seeks to raise funds overseas to finance local projects. “There are lots of ...

Bloomberg Nissan Motor Co. forecast a surprise drop in annual profit on expectations for higher raw material costs and a stronger yen, and as price competition increases in the US and China. Operating profit will probably fall 7.7 percent to 685 billion yen ($6 billion) in the fiscal year through March, compared with the average analysts’ estimate for a gain ...

Bloomberg Growth in the euro area will be slightly stronger this year than previously forecast, the European Commission said, adding that some risks to the outlook have eased following the defeat of populist parties in France and the Netherlands. The commission sees the 19-nation economy expanding 1.7 percent this year — up from 1.6 percent forecast in February — and ...

Bloomberg While dealing with Volkswagen AG’s legal woes over the last 1 1/2 years, Chief Executive Officer Matthias Mueller was able to claim that he was not personally caught up in investigations. That has now changed, potentially complicating his efforts to turn the page on the biggest scandal in the German automaker’s recent history. Mueller, brought in at the height ...

Bloomberg For a guy who just lost about a quarter of his net worth, Snap Inc. co-founder Evan Spiegel exuded confi- dence on his first earnings conference call, explaining away the company’s shortcomings and even throwing shade at his bigger — and far more successful — social media rival, Facebook Inc. Facebook has been copying some of Snapchat’s most popular ...

Bloomberg Uber Technologies Inc. suffered a legal setback in its fight against being regulated as a traditional taxi service, after an adviser to the European Union’s top court rejected the argument that the car-hailing application is just that, an app. The question has vexed regulators and lawmakers across the region for years and Thursday’s non-binding opinion gives an indication that ...

  Abu Dhabi / Emirates Business Abu Dhabi National Exhibitions Company (ADNEC) announced on Wednesday that the value of its direct and indirect contribution to the economy of Abu Dhabi reached AED1.12 billion in Q1 2017, representing an 8 percent growth over target. The company attributed the positive first quarter results to the improved contribution from its existing events including ...

  Abu Dhabi / WAM In yet another indicator of the growth of business sentiments in the country, the number of automatic teller machines operated by banks in the UAE hit a total of 5, 211 by end of March , an increase of 67 machines from the same period in 2016, according to UAE Central Bank statistics. Up to 40 ...

  Sharjah / WAM Sharjah Commerce and Tourism Development Authority (SCTDA), is participating for the first time in the China World Travel Market in Shanghai to explore new tourism markets. The China World Travel Market is taking place from May 10-12 in Shanghai and is one of the leading travel and tourism fairs in China, attracting more than 800 exhibitors from ...