News

  Bloomberg China is considering dialing back or delaying proposed measures aimed at pushing automakers to produce more electric vehicles, after industry feedback that the targets are overly ambitious. Under draft rules released in September for public consultation, automakers will be required to obtain a new-energy vehicle credit score of 8 percent next year, derived from different weightings assigned to ...

  Bloomberg Standard Life Plc, Scotland’s largest insurer, agreed to acquire Aberdeen Asset Management Plc for about 3.8 billion pounds ($4.7 billion), a deal that would create the UK’s largest active manager. The stocks soared in London trading. Under the terms, Standard Life shareholders will own 66.7 percent of the combined group, according to a joint statement on Monday. Aberdeen’s ...

  Bloomberg Palm oil bears are growing in confidence this year with production in the two largest growers expected to surge as plantations recover from the scorching effects of El Nino. The factors that may stand in the way, however, include Donald Trump and a possible early return of El Nino. The quarterly average price of the oil used in ...

  Bloomberg A strike at the world’s largest copper mine faces a critical phase this week as the union expects management to tempt workers with an offer that could end the stoppage in northern Chile. After 30 days of strike, on March 10, BHP Billiton Ltd.’s Escondida can legally make individual offers to workers. If it manages to convince more ...

    Bloomberg US President Donald Trump’s protectionist stance may propel Asian, Middle Eastern and Latin American economic powers into market-opening alliances with the European Union, a top EU official said. Jyrki Katainen, a vice president of the European Commission, the EU’s executive arm, said Trump’s rejection of multilateral commercial deals and border-tax threat are giving impetus to the 28-nation ...

  Bloomberg BT Group Plc will spend 1.18 billion pounds ($1.45 billion) to hold on to broadcast rights for Champions League soccer in the UK, agreeing to a 32 percent price increase to secure the future of its pay-TV business. Britain’s former telephone monopoly will pay 394 million pounds a year for three seasons ending in 2020-2021, BT said in ...

  DUBAI / WAM Dubai Financial Market (DFM) announced the launch of a trading platform for exchange-traded funds (ETFs), the first of its kind in regional capital markets. Governed by a world-class regulatory framework, the platform offers unprecedented levels of integration and provides ongoing support to the burgeoning ETF industry, particularly market makers, authorised participants and liquidity providers. DFM hosted ...

  ABU DHABI / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Co-operation of the UAE, and Francois-Philippe Champagne, Minister of International Trade of Canada, met in Abu Dhabi to discuss ways of promoting and enhancing bilateral relations between the two countries, with a focus on trade and investment, to benefit their people. Welcoming ...

  DUBAI / WAM Yousef Obaid Al Nuaimi, Chairman of Ras al-Khaimah Chamber of Commerce and Industry, RAK Chamber, discussed development of economic relations with Poland, during his meeting with Robert Rostek, Ambassador of the Republic of Poland to the UAE. Al Nuaimi underlined the chamber’s commitment to support, develop and diversify fields of economic and investment cooperation with Polish ...

  ABU DHABI / WAM Abu Dhabi International Airport will be one of the largest state-of-the-art airports in the world, with a capacity to accommodate 30 million passengers per year by 2019, said HH Sheikh Hazza bin Zayed Al Nahyan, Deputy Chairman of Abu Dhabi Executive Council, declared, following a tour of the Midfield Terminal Building (MTB) on Sunday. “The ...