News

  Bloomberg China’s official factory gauge started the new year on a robust note, giving policy makers a buffer to transition to neutral policy settings as they prepare for potential trade tensions with a Donald Trump-led White House. Manufacturing purchasing managers index was 51.3 in January, compared with a median estimate of 51.2 in a Bloomberg survey of economists and ...

  Bloomberg India is planning to create a state-owned oil giant through mergers to match the might of international companies and billionaire Mukesh Ambani’s Reliance Industries Ltd. “We see opportunities to strengthen our central public-sector enterprises through consolidation, mergers and acquisitions,” Finance Minister Arun Jaitley said in Parliament while presenting the federal budget for the year beginning April 1. “It ...

  Bloomberg World leaders aren’t taking Donald Trump’s trade barbs lying down. After the US president said Germany and Japan are gaming foreign-exchange markets to win favorable trade terms, Japanese Prime Minister Shinzo Abe joined German Chancellor Angela Merkel on Tuesday in pushing back and leading a global counter-charge to the accusations. “A massive clash is starting to emerge with ...

  Bloomberg Apple Inc. is considering taking legal action against an executive order signed by US President Donald Trump that halted entry by persons from seven predominantly Muslim countries, the Wall Street Journal reported, citing Chief Executive Officer Tim Cook as saying. America’s largest corporation will continue to press the White House to reverse the order, Cook told the newspaper ...

  Bloomberg UK factories saw costs rise at a record pace at the start of 2017, pointing to increasing upward pressure on inflation that could weigh on the economy this year. A measure of input prices in IHS Markit’s monthly Purchasing Managers Index jumped to the highest since the series began in 1992, it said on Wednesday. The headline activity ...

  Bloomberg Roche Holding AG expects to dodge the worst of the fallout from the expiry of patents on its blockbuster medicines. The Swiss drugmaker is rolling out new treatments such as the cancer immune therapy Tecentriq and wrapping up costly clinical trials for two experimental medicines to soften the blow from competition to its ageing cancer blockbusters. That means ...

  Bloomberg BMW AG Chief Executive Officer Harald Krueger defended the importance of free trade, responding to recent remarks by US President Donald Trump suggesting he’ll push for tariffs to protect American jobs. “As a global company, we’re present on all important markets,” Krueger said at an industry conference in Bochum, Germany. “That also means that we allocate automobile value-creation ...

  Abu Dhabi / WAM The UAE’s non-oil foreign trade stood at AED1.172 trillion during the first nine months of 2016 (January-September), compared to AED1.170 trillion in the same period in 2015, showing a 0.1 percent growth. Preliminary data of the Federal Customs Authority (FCA) indicated that the share of imports in the UAE’s total non-oil trade amounted to AED721.2 billion, ...

  Dubai / WAM Dubai Chamber of Commerce and Industry (DCCI) honoured top performing SME exporters. The companies were recognised for demonstrating outstanding export performance during the last nine months of 2016 in the following categories: company with the highest export value, company with the highest number of export markets, company with the highest number of Certificates of Origin issued, and ...

  Dubai / WAM Experts from the governance, risk and compliance, GRC, communities across the MENA region will converge in Dubai next week for a dialogue with neighbouring countries that share the same risks, challenges and regulatory outlook, at the 11th Annual MENA Regulatory Summit. Co-hosted by the Dubai Financial Services Authority (DFSA) and Thomson Reuters on February 5-6, the summit ...