News

  Bloomberg China’s biggest SUV maker is reconsidering its plan to build an auto plant in Mexico that would have made its best-selling vehicles for the US market, joining a growing list of global automakers reviewing investment plans after tax threats by President Donald Trump. Great Wall Motor Co., led by billionaire Chairman Wei Jianjun, may choose the US instead ...

  Bloomberg Indian sugar mills have recommended the government limit the volume of imports if it decides to purchase sweetener from overseas. ISMA said if the government “wants to import for their own comfort, not more than 400,000 to 500,000 tons of sugar should be allowed to be imported” and priority should be given to domestic mills in the country’s ...

  Bloomberg Volkswagen AG plans to team up with Tata Motors Ltd. on joint projects in India, renewing the German automaker’s push to boost its presence in emerging markets after its previous efforts failed to gain traction. Tata and the European carmaker’s Skoda division will initially work together on market studies for developing mobility services, vehicle components and models, Wolfsburg-based ...

  Bloomberg Senator Lisa Murkowski said President Donald Trump is interested in opening up new coastal waters for oil and gas drilling and reversing Obama-era policies that restrict energy development in Alaska. Both Trump and Interior Secretary Ryan Zinke are weighing ways to expand opportunities to drill in Arctic waters though the changes could take years to accomplish administratively, Murkowski ...

  Bloomberg BHP Billiton Ltd. has sent a formal request to meet with union leaders at the world’s largest copper mine in Chile, the first attempt to meet since talks failed on February 20, the company said in an emailed statement. BHP wants to propose a new wage offer that includes improvements in several areas that the union has said ...

  Bloomberg Uber Technologies Inc. failed to persuade a judge to approve a settlement offering 1.6 million California drivers an average of $1.08 each to dispense with alleged labor-code violations that their lawyer earlier claimed might have been worth billions of dollars. Los Angeles Superior Court Judge Maren Nelson issued a tentative ruling rejecting a deal aimed at resolving one ...

  DUBAI / WAM The theme parks in the UAE are dialling up the “smart” visitor experience to ensure the country remains one of the world’s fastest growing markets, industry experts announced, ahead of the of the Dubai Entertainment, Amusement, and Leisure Show. The UAE is the dominant market in the Middle East and North Africa, the world’s fastest growing region ...

  KUWAIT / WAM Compliance of OPEC with an oil output cut exceeded a target, standing at 140 percent in February, while non-OPEC producers’ compliance was 50-60 percent, Kuwaiti Minister of Oil, Water and Electricity Essam Al¬ Marzouq said, the state Kuwait News Agency (KUNA) reported. He attributed OPEC’s compliance to deep production cuts by Saudi Arabia, a voluntary act ...

  Abu Dhabi / WAM The Union National Bank (UNB) has no intention of merging with any other bank, its chief executive officer (CEO) has affirmed. “There are no formal procedures or any intention to merge UNB with any other banking institutions,” Mohammed Nasr Abdeen told reporters after the bank’s Annual General Meeting on Wednesday in Abu Dhabi. The bank ...

  Abu Dhabi / WAM The Emirates NBD Dubai Economy Tracker Index (DET) eased slightly to 56.2 in February from the two-year high reached in January, according to new data released today by the lender. The DET in February was higher than the average reading for 2016, signaling an acceleration in economic growth at the start of this year. Output and ...