News

  Bloomberg Walt Disney Co. said its new $5.5 billion Shanghai theme park attracted four million visitors in its first four months and will be close to breaking even in its first full year of operation in 2017. About 50 percent of the park’s guests are from outside the Shanghai area, a “big surprise” as the Chinese city had been ...

  Bloomberg Malaysia’s economic expansion beat estimates as private consumption growth quickened, helping counter weak government spending. Malaysia’s consumers and companies are now the growth pillars of the economy after a collapse in global crude prices hurt exports and curtailed the government’s ability to spend. Donald Trump’s victory in the U.S. presidential election poses a risk to Asian economies should ...

  Bloomberg The Obama administration’s signature policy on technology was net neutrality. Rules passed by the Federal Communications Commission in 2015 prohibited internet service providers from treating web traffic differently depending on the service being used.To Obama’s FCC, the rules were a way to prevent broadband providers from inappropriately knee-capping companies like Netflix whose services competed with their own. Opponents ...

  Reuters Facebook Inc has said it would no longer allow certain advertisers to exclude racial or ethnic groups when placing ads on its service, following criticism that the practice was discriminatory. The move comes amid growing scrutiny of how the world’s largest online social media network’s policies and algorithms shape what content appears in a user’s news feed. The ...

  Bloomberg Pacific Investment Management Co. has finally stopped the bleeding. Third-party clients added a net 4.7 billion euros ($5.1 billion) in new money to Newport Beach, California-based Pimco last quarter, according to a statement by its parent Allianz SE. The inflows cap three years of net redemptions that have cut assets at the money manager by about a quarter, ...

  Bloomberg European Union Trade Commissioner Cecilia Malmstrom said EU-US negotiations on a free-trade agreement would probably be put on hold in definitely because of Donald Trump’s victory in the American presidential election. Trump lashed out at market-opening initiatives such as the planned Trans-Atlantic Trade and Investment Partnership, or TTIP, during his successful campaign to succeed US President Barack Obama. ...

  Bloomberg BMW AG’s top labour representative offered a rare public rebuke of the company’s leadership, warning that the luxury-car maker risks falling behind rivals in the race to develop battery-powered cars. “Management has been slow to decide on investing in more electric models,” Manfred Schoch, who’s also deputy chairman of BMW’s supervisory board, said in an interview in Nuremberg, ...

  CAIRO / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, held talks with Egyptian President Abdel-Fattah Al-Sisi here on Thursday regarding the latest regional and international issues of mutual concern and ways to bolster strategic co-operation. The Abu Dhabi Crown Prince is currently visiting ...

  TIRANA / WAM Sultan Mohammed Majed Al Ali, UAE Ambassador to Greece and Non-resident Ambassador to Albania, discussed on Thursday with Damian Gjiknuri, Albanian Minister of Energy and Industry, how Albania can benefit from the UAE’s experience in renewable energy. The meeting, which took place at the ministry, tackled ways of enhancing bilateral relations in areas of energy and ...

  DUBAI / WAM Hospitality industry in Gulf region remains firm on its growth trajectory with projects worth $23.5 billion under construction in the key markets of Saudi Arabia and the UAE, organisers of a key industry event in Dubai reported on Thursday. The ongoing projects in region have a combined estimated value of $104.4 billion, of which 15 are ...