News

  ABU DHABI / WAM ZonesCorp announced its participation in the Hannover Messe exhibition, the world’s leading industrial technology show, being held in Hannover, until April 28. Saeed Eisa Al Khyeli, Director-General of ZonesCorp, said, “ZonesCorp’s participation this year in Hannover Messe is a valuable opportunity to showcase the success of the industrial sector in the Emirate of Abu Dhabi ...

  DUBAI / Emirates Business The Ministry of Climate Change and Environment (MoCCaE) has banned imports of certain vegetables and fruits from select countries with effect from May 15 as those products have been found to contain pesticide residues in excess of permissible limits. The counties that will be impacted by the ban include Egypt, Oman, Jordan, Lebanon and Yemen. ...

  Bloomberg India toppled Japan as the world’s second-largest importer of liquefied petroleum gas as Prime Minister Narendra Modi’s pledge to provide cooking gas cylinders to the poor and wean them off polluting fuels drove up consumption. Imports of LPG, mostly used as cooking fuel, soared 23 percent during the financial year that ended March 31 to 11 million tons, ...

  Bloomberg The challenge is daunting: Convert an economy of more than 1 billion consumers, 29 states, 22 official languages, 9 million businesses all operating under a spider’s web of taxes, arcane regulations and competing political ambitions into a unified common market. But that’s the goal as India gets ready to roll out a goods-and-services tax after a 10-year battle ...

  Bloomberg China’s boom in wealth-management products worth trillions of dollars, under scrutiny from regulators because of potential threats to financial stability, is slowing for now. Outstanding products issued by banks stood at 29.1 trillion yuan ($4.2 trillion) as of March 31, up 18.6 percent from a year earlier, according to the China Banking Regulatory Commission. The growth rate slumped ...

  Bloomberg For all Donald Trump’s efforts to revive coal, market forces and some of his own supporters are vying to write their own version of America’s energy future. Divisions persist among the president’s supporters — and even within his own cabinet — about whether to continue subsidies for wind and solar power, enact a carbon tax, remain party to ...

  Bloomberg German business sentiment rose to the strongest level in almost six years in a sign that the momentum in Europe’s largest economy is set to continue. The Munich-based Ifo institute’s business climate index increased to 112.9 in April from a revised 112.4 in March. That compares with a median estimate of 112.4 in a Bloomberg survey of economists. ...

  Bloomberg Wall Street is betting Sprint Corp. and T-Mobile US Inc. will soon revive talks on a blockbuster merger, but a recent surge in demand for wireless assets has Sprint exploring other ways to unleash value. Sprint’s parent SoftBank Group Corp. believes the company’s vast trove of wireless spectrum, which can be used for faster 5G services, has been ...

  Bloomberg Royal Philips NV said a strong order book and resilient performance in markets including China and India would allow the Dutch health-care equipment provider meet sales targets, even as uncertainty surrounding US policy led hospitals there to delay spending. The company reiterated a full-year revenue growth target of between 4 percent and 6 percent for its health technology ...

  Bloomberg Akzo Nobel NV said it would consider PPG Industries Inc.’s new unsolicited 26.9 billion euros ($28.8 billion) takeover bid, which the US rival extended with “one last invitation” for Europe’s largest coatings company to negotiate a deal. Akzo Nobel will “carefully review and consider” the proposal, the Amsterdam-based company said in a statement on Monday. PPG earlier offered ...