News

  LONDON / AP President Donald Trump’s immigration stance has begun to discourage foreign visits to major US cities, threatening to cost billions of dollars and thousands of jobs. New York, the nation’s most visited city by people overseas, predicts such trips will drop more than 2 percent this year to 12.4 million, the first decline after eight consecutive annual ...

  Bloomberg Peaking demand, sky-high sales incentive costs, threats of a border tax — none of these are distracting Subaru from its marketing and growth ambitions in its biggest market. “America is the pillar,” Yasuyuki Yoshinaga, chief executive officer of Fuji Heavy Industries Ltd., which owns the Subaru brand, said in an interview Thursday. “It’s true we want to increase ...

  Bloomberg Long before President Donald Trump has made good on his pledge to spend $1 trillion on US infrastructure projects — including using only American metal in new pipelines — investors already are seeing a big payoffs from domestic steel producers. The VanEck Vectors Steel ETF delivered an 82 percent return in the past year as shares surged in ...

  Bloomberg Central London office values will probably fall as much as 20 percent this year as the economy slows and investors are deterred by uncertainty in the face of the UK’s exit from Europe and increased business rates, according to Deutsche Bank AG’s asset management unit. Spending on properties in the British capital slowed sharply before and after the ...

  Bloomberg Chancellor of the Exchequer Philip Hammond said the UK economy will grow faster than previously forecast this year as he set the course for government spending with Britain preparing to leave the European Union. Opening his Budget speech in Parliament on Wednesday, Hammond said the Office for Budget Responsibility now sees 2017 economic growth of 2 percent compared ...

  Bloomberg State Farm Mutual Automobile Insurance Co., the largest U.S. property-casualty insurer, said annual profit fell 94 percent on car insurance claims costs. Net income dropped to $400mn from $6.2bn in 2015, when results included one-time gains in the stock portfolio tied to pharmaceutical deals, the Bloomington, Illinois-based firm said. The underwriting loss from auto insurance widened to $7bn ...

  Bloomberg The European Union will for the first time bring its military operations under a single command in a symbolic move that signals the bloc’s renewed push to cooperate on defense matters. EU governments are showing a readiness to pull together military resources and decision-making capabilities as statements from the US have called into question American commitment to European ...

  JAKARTA / WAM The UAE participated in the Indian Ocean Rim Association (IORA) Leaders’ Summit and other related meetings that took place in the Indonesian capital, Jakarta, from March 5-7 under the slogan “Strengthening Naval Cooperation to Achieve Peace, Stability and Welfare in the Indian Ocean”. The IORA Summit marked the occasion of the association’s 20th year and is ...

  ABU DHABI / WAM The inflation rate in consumer prices for the first two months of 2017 was 2.0 percent as compared to the same period of last year, as shown by the increase in the Consumer Price Index (CPI) to 107.7, up from 105.6 during the same period of 2016. The Abu Dhabi region contributed 54.6 percent of ...

  ABU DHABI / WAM The Executive Team of the National Index (net flow of Foreign Direct Investment to GDP) held its first meeting at the headquarters of the Ministry of Economy in Dubai. The meeting was presided over by Juma Mohammed Al Kait, Assistant Under-Secretary for Foreign Trade Affairs and Head of the Executive Team, under the framework of ...