News

  Berlin / AFP The EU won’t sacrifice its high food safety standards for better US auto market access in a transatlantic trade deal being negotiated, a German minister said. The comments by Agriculture Minister Christian Schmidt were the latest criticism of the thorny negotiations toward sealing a wide-ranging pact that would create a free-trade zone covering 850 million people. ...

  Washington / AFP   US employers cut back hiring in April in the wake of the economy’s sharp downturn, raising worries of a protracted slowdown in the world’s largest economy. Net new jobs fell unexpectedly to the lowest level in seven months, with just 160,000 additional jobs generated, over 40,000 less than economists predicted, the Labour Department reported. That was ...

  Bloomberg The dollar’s biggest gain in six months may run out out fuel as reports from sectors of the U.S. economy keep pointing to sluggish growth. The Bloomberg Dollar Spot Index that tracks the currency versus 10 peers rallied this week from a one-year low, shrugging off a patchy jobs report. The employment data prompted Goldman Sachs Group Inc. ...

  Bloomberg Argentina’s credit rating was raised to B- from selective default by S&P Global Ratings, which cited the country’s payment on Thursday of $2.7 billion of past-due interest on bonds in default since July 2014. The outlook on the South American country’s rating is stable, S&PGR said in a statement. The ranking is five levels below investment grade and ...

  Bloomberg Monsanto Co. may have to wait months to gain approval in Argentina for a patent on its latest genetically modified soybean technology, another setback for the world’s largest seed company in its years-long quest to collect royalty payments from the country’s farmers. Monsanto’s Intacta soybean seed still lacks full patent approval from the Argentine regulator, Argentina’s Science and ...

  Bloomberg President Barack Obama touted a new rule from his administration that’s aimed at making it harder for people to hide money in the U.S. — but it came under quick criticism from a group of organizations pushing for greater financial transparency. Parts of the rule, which will require financial institutions to identify account holders hidden behind shell companies, ...

  Bloomberg Puerto Rico’s economic recession is poised to worsen as residents continue to leave the island, threatening to deepen the fiscal crisis that’s pushing the island to default on a growing share of its $70 billion of debt. The Planning Board, which calculates the island’s economic growth, released its fiscal 2017 forecast, estimating a 2 percent drop in gross ...

  London / AFP Global stock markets extended their sell-off on Wednesday as disappointing US jobs figures added to reignited concerns about weak growth. After a run of gains for equities, traders have been spooked by a string of disappointing data from China to Europe and the United States that has led them to question whether hopes of a nascent ...

  ABU DHABI / WAM The Ministry of Foreign Affairs and International Cooperation, has announced that the UAE’s citizens could travel to the Republic of Belarus without the need for prior entry visa requirement, and can stay for a period not exceeding 30 days. Ahmed Saeed Elham Al Dhahiri, Assistant Under-Secretary for Consular Affairs at the ministry, said the ministry ...

  KUALA LUMPUR / WAM HH Sheikha Jawaher Bint Mohammad Al Qasimi, Wife of HH the Ruler of Sharjah, Chairperson of NAMA Women Advancement Establishment (NAMA) and Honorary Chairperson of the Sharjah Business Women Council (SBWC), attended the Sharjah Business Women Forum in the Malaysian capital Kuala Lumpur. Organised by NAMA in collaboration with the Malaysian International Chamber of Commerce ...