News

  Bloomberg Australia’s smashing growth may not be quite as good as it seems. It’s clear that China’s renewed resource binge has brought back the good times for its commodity-driven economic satellite, emboldening Aussie households to ease up saving and ramp up spending. And the outlook for the world’s No. 2 economy looks like it will remain good for some ...

  Bloomberg Not even Donald Trump can put the brakes on China’s wealth-creation machine. The 36 Chinese billionaires on the Bloomberg Billionaires Index have increased their wealth by 13.2 percent since the real estate mogul was elected US president on Nov. 8, a $39.2 billion increase that’s pushed their combined net worth to $336 billion. The gains top those seen ...

  Bloomberg China has ordered curbs on steel and aluminum output in as many as 28 northern cities during the winter heating season as it steps up its fight against pollution, according to people with knowledge of the matter. The cuts include halving steel capacity in four major cities, including top producer Tangshan in Hebei province, according to the people, ...

  Bloomberg The super-rich will continue to flock to London, despite the political and economic concerns around the UK’s intention to leave the European Union, according to a report published on Wednesday by property broker Knight Frank LLP. The number of ultra-wealthy people living in the UK capital is expected to climb by 30 percent to 6,058 over the next ...

  Bloomberg Fiat Chrysler Automobiles NV said the US Securities and Exchange Commission and states’ attorneys general are investigating its diesel models, as scrutiny escalates of vehicles that environmental regulators have said violate pollution laws. Following US Environmental Protection Agency allegations in January that Fiat Chrysler put software in Jeep and Ram diesel models allowing them to exceed pollution limits, ...

  Bloomberg Blue-chip US companies are pulling back from borrowing just when investors most want to lend. Investment-grade corporate bond sales were below $100 billion in February, the worst February since 2014 and 14 percent below the monthly average for issuance for the last three years, according to data compiled by Bloomberg. Companies likely moved at least a portion of ...

  GENEVA / WAM Dr Anwar bin Mohammed Gargash, Minister of State for Foreign Affairs reiterated UAE’s commitment to promoting respect for human rights and fundamental freedoms. Giving the UAE statement before the High Level Segment of the 34th session of the United Nations Human Rights Council in Geneva, Dr Gargash said by promoting respect for human rights, the UAE ...

  DUBAI / WAM Emirates National Bank of Dubai (Emirates NBD) announced it would cooperate with Dubai SME to provide four-year, interest-free payments for buyers of revolutionary machines which literally convert air into water. The deal between Emirates NBD and Dubai-based Sky River was signed at Gulfood 2017, the world’s largest annual food event running at Dubai World Trade Centre ...

  Abu Dhabi / Emirates Business Emirates Global Aluminium (EGA), the largest industrial company in the United Arab Emirates outside the oil and gas industry, reported net income for 2016 of AED 2.1 billion, an increase of 10 per cent compared to 2015. Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at AED 5.0 billion, in line with 2015. ...

  DUBAI / Emirates Business Following a highly successful partnership, DP World has signed a five-year extended agreement with leading strategic procurement company BravoSolution / Tejari. The deal was made following the existing five year relationship where Tejari supported DP World’s supplier relationship, tendering and contract management processes into a seamless, integrated online platform that can be accessed both locally ...