News

  Bloomberg China’s economy remained generally steady during the Lunar New Year while sentiment readings show uncertainties over the outlook, according to the earliest private data for February. Sales managers perked up and satellite data showed activity hanging in near a five-year high. Meanwhile, the financial world’s outlook for next 12 months remained in negative territory and a gloomier mood ...

  Bloomberg Mexico’s top trade negotiator doubled down on threats to break off talks to rework Nafta, saying his country will walk away if the US insists on slapping duties or quotas on any products from south of the border. “The moment that they say, ‘We’re going to put a 20 percent tariff on cars,’ Iget up from the table,” ...

  Bloomberg INTL FCStone Inc. is betting the $170 billion physical gold market will follow the rest of the bullion world in catching up with technology. The brokerage has started a platform that brings everyone from refiners to jewelers together to trade metal around the world, said Barry Canham, who heads the company’s precious metals division. At the moment, the ...

  Bloomberg Counterfeit goods, software piracy and the theft of trade secrets cost the American economy as much as $600 billion a year, a private watchdog says. In a report out on Monday, the Commission on the Theft of American Intellectual Property says the annual losses range from about $225 billion to $600 billion. The theft of trade secrets alone ...

  Bloomberg Blackstone Group LP and Prudential Plc were picked as preferred bidders for about 12.5 billion pounds ($16 billion) of UK mortgages made by failed lender Bradford & Bingley, according to two people with knowledge of the matter. The New York private-equity giant and London-based insurer were among winners in a contest overseen by UK Asset Resolution Ltd., a ...

  Bloomberg General Motors Co. boosted incentives on its pickup models this month after its biggest foes gained ground, intensifying a price war within the US auto market’s most hotly contested segment. Discounts averaged about $6,996 for the Chevrolet Silverado and $5,315 for the GMC Sierra this month through February 12, according to J.D. Power dealer data obtained by Bloomberg ...

    DUBAI / WAM Dubai Electricity and Water Authority (DEWA) announced plans to build 97 new 132/11 kilovolt (kV) substations over the next three years, at a projected cost of AED 10 billion. “This supports the directives of the wise leadership, and shows DEWA’s commitment to meeting growing demand for energy in Dubai,” the authority said, adding that the ...

  DUBAI / WAM France, which gave the world one of the most enduring symbols of World Expos, the Eiffel Tower, has confirmed its commitment to Expo 2020 Dubai, joining a growing number of nations who have publicly announced their participation. According to a press statement from Expo 2020 Dubai, the UAE and France share a history of strong bilateral ...

  ABU DHABI / WAM Abu Dhabi Department of Economic Development (ADDED) has approved a new procedure of inspecting commercial license transactions, starting from the beginning of this year, whereby inspection is postponed until the license is issued, the transaction is completed and all papers and documents are completed. Commenting on the new procedure, Khalifa Al Mansouri, ADDED’s Acting Undersecretary, ...

  ABU DHABI / WAM More than 200 leaders, sustainability professionals and business pioneers will gather next Wednesday in Abu Dhabi to share their insights and expertise to help forge a sustainable future, at the Abu Dhabi Sustainable Business Leadership Forum 2017. The two-day forum organised by the Abu Dhabi Sustainability Group (ADSG), will discuss issues related to sustainability, and ...