News

  Bloomberg China’s factories and services both closed out 2016 on relatively robust notes that signal growth is strong enough for policy makers to keep pushing for economic reforms in 2017. The manufacturing purchasing managers index stabilized near a post-2012 high in December, edging down to 51.4 from 51.7 the prior month. The non-manufacturing PMI slipped to 54.5 from a ...

  Bloomberg China has started an overhaul of its salt industry, easing a monopoly that has existed in some form for more than 2,000 years and predates the Great Wall. New regulations went into effect at the start of this year. Under a plan published by China’s State Council last year, government regulators will allow private companies to enter the ...

  Bloomberg The pace of German inflation more than doubled in December, driven by a surge in oil that is set to mask continued weakness in underlying price pressures in the months ahead. Consumer prices rose 1.7 percent from a year ago, recording the biggest jump on record, the Federal Statistics Office in Wiesbaden said on Tuesday. Economists surveyed by ...

    Bloomberg UK manufacturing grew at the fastest pace in 2 and a 1/2 years in December, helped by the pound’s deprec- iation since the vote to leave the European Union. After dipping sharply in the wake of the Brexit referendum — dropping below the key 50 level in July — the IHS Markit Purchasing Managers Index has since ...

  Bloomberg The outlook for Britain’s labour market is “fairly bleak” amid the uncertainty surrounding Brexit and low levels of productivity, according to the Chartered Institute of Personnel and Development. Slower growth, lower real wages and increasing precariousness in the workforce will be the major challenges for the UK government and businesses over the next 12 months, the CIPD said. ...

  Bloomberg Finland has become the first country in Europe to pay its unemployed citizens a basic monthly income, amounting to 560 euros ($587), in a unique social experiment which is hoped to cut government red tape, reduce poverty and boost employment. Olli Kangas from the Finnish government agency KELA, which is responsible for the country’s social benefits, said Monday ...

  Bloomberg Britain risks losing 40 billion euros ($42 billion) of direct funding from European Union once it leaves bloc, according to UK parliamentary analysis. The European Structural and Investment Funds, which help develop the most deprived regions, and the European Agricultural Guarantee Fund that supports the Common Agricultural Policy are set to provide the U.K. with 17.2 billion euros ...

  DUBAI / WAM Expats have recognised the UAE as the 4th best destination globally for an international career. According to new data released by HSBC’s annual Expat Explorer Survey, the country improved from 6th place in 2015 as one of the places expats look to in order to build their careers. The UAE ranked as the best country in ...

  Dubai / WAM More than 1.1 million patients visited the Dubai Health Authority (DHA) Hospitals and medical centres in 2016, according to a top official. Dr. Ahmad Bin Kalban, CEO of Hospital Services Sector at DHA, said that Dubai and Rashid hospitals had the highest number of visits with 382,106 and 325,619 patients respectively. Latifa Hospital received 161,006 patients ...

  ABU DHABI / WAM Yas Island wrapped up 2016 with a record-breaking festive season as it declares its month-long ‘Winterland Festival’ and New Year’s Eve celebrations a great success. The Yas ‘Winterland Festival’, an island-wide festival of family-friendly events, activities and offers which took place from December 9, 2016 and runs until January 7, attracted a record turnout to ...