News

  Bloomberg Iron ore is getting battered. After rounds of warnings that this year’s rally may be overdone, the raw material is in retreat as doubts gather about the strength of demand in China as steel sells off and record port stockpiles put a spotlight on rising supplies. In China, futures on the Dalian Commodity Exchange sank into a bear ...

  Bloomberg The UK drew more venture-capital investment last year than the next four European countries combined, mitigating concerns that Brexit is hurting British startups’ fundraising. Venture-capital firms plowed 6.8 billion pounds ($8.5 billion) into Britain last year, according to an annual study released on Wednesday from Tech City UK, a London-based organization that promotes the country’s digital economy. That’s ...

  NEW YORK / AP Trumpism is slowly taking hold on your phone and computer, as newly installed federal regulators begin chipping away at hard-fought protections on privacy and competition. These protections, put in place during the Obama administration, had upset the phone and cable industries. The new regime at the Federal Communications Commission says consumers win if businesses face ...

  Bloomberg Mexico is the most attractive emerging market for investors, based on a range of metrics analyzed by Bloomberg including growth, yields and equity valuations. India is the worst. Mexico saw its currency slide and bond yields surge as President Donald Trump was elected in November after lambasting the country for stealing US jobs. Even after an initial sell-off ...

  Bloomberg BMW AG said it’s reviewing its factories in the UK ahead of Brexit and that it has the flexibility to move production elsewhere if necessary. The Munich-based manufacturer, which makes vehicles for its Mini brand in Oxford, Rolls-Royces in Goodwood and engines in Hams Hall, is preparing for “different scenarios” once the UK leaves the European Union, BMW ...

  Bloomberg Canada wants to avoid a Brexit cliff-edge too. The government is pushing for its trade deal with Europe to be ratified by Britain before it leaves the European Union to secure the crucial agreement. It also has its eye on deeper relations with the UK once Brexit is complete. Canada wants to preserve any preferential access that businesses ...

  ABU DHABI / WAM The value of margin trading finance on Abu Dhabi and Dubai Security Exchange Markets hit AED31 billion in January and February 2017, an all-time-high since the inception of margin trading in 2008. The growth in the service’s financial value during the two months account for 37.3% of the total facilitations provided by licensed brokerage companies ...

  DUBAI / WAM The Emirate of Dubai continues to show growing levels of buoyancy in different business sectors, boasting growing demand and increasing returns thanks to its highly sophisticated industrial base and rising foreign investment quotas for its property and financial markets. The impressive economic success story, according to recent business reports, is attributed to a number of factors, ...

  Abu Dhabi / WAM Total volume of personal loans in the UAE increased to AED 349.9 billion in February 2017, according to a UAE Central Bank report issued on Tuesday, which affirmed the banks’ continual contribution to the overall wellbeing and growth of the economy. By providing personal and corporate finance facilities, as well as creation of jobs, the UAE ...

  Dubai / WAM The UAE Ministry of Finance has launched the first phase of its awareness and education workshops that will prepare businesses for the new tax system that will be introduced by the end of this year, in the case of excise tax, and early next year for value-added tax, VAT. As the UAE prepares to introduce both taxes ...