News

  Bloomberg This year, tax reform could give US companies access to hundreds of billions of dollars they have stashed overseas. Many corporations can’t wait that long. Apple Inc. and Microsoft Corp. combined sold $27 billion of debt this week to fund their daily operations, repay maturing debt, and buy back shares. Those bond sales might be unnecessary if new ...

  Bloomberg America’s service industries expanded in January at about the same pace as in the previous month, indicating resilience in the biggest part of the economy. The Institute for Supply Management’s non-manufacturing index was 56.5 last month after December’s 56.6 that matched the highest level since October 2015, the Tempe, Arizona-based group’s data showed Friday. Readings above 50 signal ...

  Bloomberg BMW AG is recalling about 230,000 vehicles in the US after discovering that some may have been fitted with defective Takata Corp. air-bag inflators during repairs, such as after a crash in which the devices deployed. The affected vehicles used air bags manufactured by Petri AG, a German partsmaker bought by Takata in 2000. If those vehicles needed ...

  Bloomberg As Donald Trump’s administration prepares to renegotiate Nafta, the head of Mexico’s largest movie theater chain is warning that an end to free trade could convince him to buy his popcorn from Argentina instead of the US. Cinepolis de Mexico SA, the world’s fourth-largest cinema chain, buys about $10 million a year of American kernels from farmers in ...

  Bloomberg The largest US cattle trade group said it’s “very concerned” about President Donald Trump’s pledge to renegotiate the North American Free Trade Agreement, which calls into question whether the industry will continue to enjoy its current level of market access in Mexico and Canada. A shakeup of Nafta now would come as US beef output is forecast to ...

  DUBAI / WAM The Dubai Gold and Commodities Exchange (DGCX) traded an aggregate 1.37 million contracts in January, valued at $33 billion. The exchange recorded its highest daily trading volume for 2017 on January 25 with 117,637 contracts, valued at $2.9 billion. The British Pound and Yen futures witnessed a substantial year-on-year growth in volumes, up 87 percent and ...

  DUBAI / WAM The UAE is the first country to issue a law that criminalises the hate speech and prevent threats to peace and stability as experienced by other Arab and Islamic countries, according to Dr Hanif Hassan Al Qassim, Chairman of the Geneva Centre for Human Rights Advancement and Global Dialogue. He made the statement during a seminar ...

  GENEVA / WAM The global rise of cities has been unprecedented. Every week, nearly 1.5 million people become urban dwellers. By 2050, the urban population will account for more than two-thirds of the world’s population. “Cities are evolving faster than ever and encountering unprecedented demographic, environmental, economic and social challenges. Sustainable urban development is the current global priority; however, ...

  DUBAI / WAM Investment Corporation of Dubai (ICD) successfully completed the issuance of a $1 billion 10-year sukuk. The sukuk was well received by regional and international investors and generated orders exceeding $3 billion. The $1billion sukuk will be listed on the Nasdaq Dubai exchange and is the first to be issued from the region in 2017 and the ...

  Dubai / Emirates Business The Ministry of Health and Prevention (MOHAP) announced that the Ministry’s participation this year has had a strong line up of innovative health services launched globally and regionally during its participation at the Arab Health Exhibition & Congress 2017, which was hailed by participants and visitors as a success, revealing the UAE’s excellence and leadership ...