News

  Bloomberg Amazon Web Services, the cloud-hosting arm of Amazon.com Inc., opened new data centers in the UK as it seeks to stay abreast of competitors in offering cloud computing services to government and health-care customers. The new data centers, announced in a statement on Wednesday, follow decisions by IBM and Microsoft Corp. in the past two months to expand ...

  WASHINGTON / AP The US industrial production dropped sharply in November, mainly because power plants reduced output due to unusually warm weather. The Federal Reserve reported Wednesday that output at America’s factories, mines and utilities fell 0.4 percent last month. It was another sign that American industry is struggling even as the overall US economy looks healthy. The Federal ...

  Bloomberg Line Corp. is planning to shake up its staff and business to build on the 20-plus percent share gain since the messaging company pulled off the tech world’s biggest public offering of the year. Chief Executive Officer Takeshi Idezawa is tapping top lieutenants Jun Masuda and Joongho Shin to lead the hunt for fresh growth ideas. Their new ...

Bloomberg Nowcast Inc., a Japanese financial research and technology startup, has developed a product that estimates economic growth in real time by using satellite images of night-time lights. Based on algorithms that examine changes in the intensity of illumination, as well as a range of published statistics including industrial production and trade, the Tokyo-based company can accurately forecast changes in ...

  Bloomberg South Korea’s youth unemployment rate rose to a record high in November, following political protests that paralyzed the government and led parliament to vote to impeach the president. The unadjusted jobless rate for people aged 25 to 29 rose to 8.2 percent in November, up from 8 percent in October and 7.4 percent a year earlier, Statistics Korea ...

Bloomberg Industrywide demand for passenger vehicles in India will be depressed for a few months after Prime Minister Narendra Modi’s unprecedented cash clampdown, according to senior executives at Tata Motors Ltd. and Honda Motor Co. The cash crunch, following the withdrawal of high-denomination banknotes, has hurt consumer sentiment and is expected to continue through March, Mayank Pareek, president of passenger ...

  Bloomberg China will raise the sales tax on small cars to 7.5 percent, curbing an incentive that has propped up the auto industry, which is heading for its 26th consecutive annual expansion, according to people familiar with the matter. The tax rate is less than the 10 percent originally scheduled to take effect from January. However, it is an ...

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Tuesday offered his condolences to Sheikh Rashid bin Hamdan Al Nahyan on the death of his son Sheikh Hamdan. HH Sheikh Tahnoun bin Mohammed Al Nahyan, Abu Dhabi Ruler`s Representative in the ...

  DUBAI / WAM Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, on Tuesday met the key Arab social media influencers on the sidelines of the Arab Social Media Influencers Summit (ASMIS) being held at the Dubai World Trade Centre. He was accompanied by HH Sheikh Hamdan bin ...

  DUBAI / WAM Under the patronage and presence of HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Airport Freezone Authority (DAFZA), the authority on Tuesday signed multilateral Memorandums of Understanding (MoUs) with several major entities under the Dubai Government. This is in line with the inauguration of the ‘Development of Governmental Services’ Innovation Ecosystem’ initiative which ...