News

  Abu Dhabi / Emirates Business A never-before-seen entertainment extravaganza is set to capture the hearts and minds of audiences in this year’s edition of the Abu Dhabi Summer Season, as first-time comedy greats and a thrilling illusion show descend upon the capital city from all corners of the world. Running between July 7 and September 11, venues across Abu ...

  Beijing / Bloomberg China’s second- and sixth-largest steelmakers by output have entered restructuring talks, which analysts say could presage a merger that would create the nation’s biggest mill, and a company with the scale to rival the likes of ArcelorMittal SA. Trading was suspended in the listed units of state-run Shanghai Baosteel Group Corp. and Wuhan Iron & Steel ...

  New Delhi / Tribune News Service Asean countries will propose to the 16 member states of the Regional Comprehensive Economic Partnership (RCEP) to eliminate tariffs on 92 percent of trade in goods to promote economic integration of the grouping soon. Sirinart Chaimun, director-general to the Trade Negotiations Department, said although Asean countries wanted the agreement to be finalised by ...

  Tokyo / AFP Japanese automaker Nissan said on Monday it is taking South Korea to court in response to Seoul’s claims that it manipulated emissions data on a popular sports utility vehicle. Nissan noted that it has invested heavily in green car technology — particularly electric vehicles — and would continue to “strongly deny” South Korea’s claims. Nissan paid a ...

Kuala Lumpur / Bloomberg Japanese automaker Nissan said on Monday it is taking South Korea to court in response to Seoul’s claims that it manipulated emissions data on a popular sports utility vehicle. YTL Corp., the Malaysian conglomerate which snapped up a British utility from the now defunct Enron Corp. more than a decade ago, is looking for bargains again ...

  Manama / TNS Bahrain’s future prosperity can be built around a three-point strategy of national economic development as Middle East governments take robust action to flourish in a new post-oil era, according to new analysis. A report, by PA Consulting Group, says the key for Bahrain and other GCC countries will be in developing human capital, developing economies and ...

  Bloomberg Caretaker Prime Minister Mariano Rajoy consolidated his position in Spain’s general election as voters backed away from insurgent political forces in favor of the relative security of the People’s Party. The outcome of Sunday’s voting confounded exit polls and suggested the electorate had shied away from the anti-establishment party Podemos at the last minute. With the U.K. engulfed ...

  Bloomberg Chancellor of the Exchequer George Osborne said contingency plans were in place to shore up the economy amid ongoing market volatility as he sought to reassure financial markets after Britain’s shock vote to exit the European Union. Osborne, breaking a three-day silence, delivered a statement first thing Monday morning saying that he had been in contact with Bank ...

  Bloomberg Rosneft PJSC, the state-run crude producer that has helped turn Russia into the top oil supplier to China, aims to secure its hold by winning more clients and establishing new delivery routes amid increasing competition and stretched infrastructure. “We continue our work to strengthen our presence in China’s market,” Chief Executive Officer Igor Sechin said in comments sent ...

  Bloomberg Some British companies are planning to freeze recruitment and are considering moving operations outside the United Kingdom following Britain’s decision to leave the European Union, according to a survey by a business group. An Institute of Directors poll of 1,092 United Kingdombusiness leaders found 24 percent of respondents plan to pause hiring plans, while 5 percent of companies ...