News

  Bloomberg China’s anti-graft agency is probing the nation’s top insurance offi- cial Xiang Junbo as the govern-ment steps up a bid to rein in financial risks amid an economic slowdown. Xiang, chairman of the China Insurance Regulatory Commission, is under investigation on suspicion of “severe” disciplinary violations, the Central Commission for Discipline Inspection said in a statement on its ...

  Bloomberg India, set to become the world’s largest steel producer after China, churned out a record amount in the year through March to feed rising local demand, while boosting exports to the highest ever. Output jumped 11 percent to 101.3 million metric tons and the nation was a net exporter for the first time in three years, doubling shipments ...

  Bloomberg BHP Billiton Ltd. is being targeted for an overhaul by occasional activist Elliott Management Corp., which urged the world’s biggest mining company to spin off about $22 billion of US oil assets and list them in New York. Elliott says BHP, which has two separate legal entities listed in Sydney and London that are run as one group, ...

  Bloomberg President Donald Trump took credit for Toyota Motor Corp. investing $1.33 billion in an existing US factory, championing spending by a Japanese automaker he’s blasted for building a plant in Mexico. The outlays in Georgetown, Kentucky, aren’t new — they’ve been in the works for years. But the way they’re being marketed is. Instead of emphasizing cost efficiency, ...

  Bloomberg Alphabet Inc.’s Google denied Department of Labor allegations that an in-progress investigation suggests “systemic compensation disparities against women” at the internet giant. “Every year, we do a comprehensive and robust analysis of pay across genders and we have found no gender pay gap,” Google said in an emailed statement. “Other than making an unfounded statement which we heard ...

  ABU DHABI / WAM Gulf investments in the plastic industry amount to around US$ 55 billion, (approx. AED 202 billion) according to Abdulwahab Al-Sadoun, Secretary General of the Gulf Petrochemicals and Chemicals Association GPCA. Al Sadoun said the plastic sector is projected to attract $17 billion of fresh investments over the coming five years, bringing to $72 billion the ...

  Abu Dhabi / WAM The Abu Dhabi Gross Domestic Product (GDP) increased, as per the current prices, by 6.00 percent during the 1st quarter of 2016, compared to the same period in 2015 on the back of an 8 percent rise in the added value of oil businesses and a 5.1 percent increase in non-oil businesses. This came in ...

  Dubai / Emirates Business International Expo Consults (IEC), a branch of Falak Holding, stated that exhibitors at this year’s Dubai Entertainment and Amusement Leisure (DEAL) show have signed contracts worth over US$1.66 billion. The DEAL show grew by 30 percent last year over the previous years as exhibitors signed contracts for innovative products and projects, amusement rides and other ...

  KUWAIT / WAM Total proved reserves of members of the Organisation of Arab Petroleum Exporting Countries (OAPEC), amounted to 710 billion barrels, accounting for 55.6 percent of the world’s total reserves, in early 2017, the organisation said. Total gas reserves held by the eleven members of the organisation stand at 54 trillion cubic metres, or 27.7 per cent of ...

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, stressed that the UAE, under the leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and the follow up of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander ...