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  Bloomberg German industrial production rebounded in April in a sign that Europe’s largest economy is benefiting from a pick-up in investment. Output, adjusted for seasonal swings, rose 0.8 percent from March, when it dropped a revised 1.1 percent, data from the Economy Ministry in Berlin showed on Tuesday. In Spain, industrial production was unchanged in April from the previous ...

  Bloomberg Royal Dutch Shell Plc cut spending plans further and promised increased savings following its record purchase of BG Group Plc as it continues to adjust to the slump in oil prices. Europe’s biggest energy company will spend $29 billion this year, it said on Tuesday. That compares with a May forecast for capital expenditure “trending toward” $30 billion, ...

  Bloomberg Michelin & Cie. plans to accelerate cost savings through 2020 in a bid to match rival tyre manufacturers’ profitability, Chief Financial Officer Marc Henry said. Michelin is targeting spending reductions of €1.2 billion ($1.36 billion) from 2017 through 2020 with job cuts, shifting production outside of Europe, reducing the amount of raw materials used per tyre and introducing ...

  Bloomberg Japan Inc. has $59 billion at stake on the June 23 referendum in the U.K., when Britons vote to either leave or stay in the European Union. That’s the amount Japanese companies have invested in the U.K., which benefits more from the Asian nation than any other country outside Europe apart from the U.S., according to figures compiled ...

Bloomberg   Saudi Arabia plans to cut the public-sector wage bill as well as subsidies by 2020, scaling back the state largess that helped ensure political loyalty in the largest Arab economy. The reductions are a pillar of the National Transformation Program the Saudi cabinet approved on Monday. A major component of the Vision 2030 plan unveiled by Deputy Crown ...

  Bloomberg Saudi Arabia is scaling back renewable power targets as the world’s biggest oil exporter plans to use more natural gas, backing away from goals set when crude prices were triple their current level, according to Energy Minister Khalid Al-Falih. The kingdom aims to have power generation from renewable resources like the sun make up 10 percent of the ...

  Bloomberg Saudi Arabia is cracking down on banks that are lowballing interest rate submissions, people with knowledge of the matter said. The Saudi Arabia Monetary Agency has written to banks instructing them not to submit levels to the Saudi Interbank Offered Rate that are below what they’re actually willing to lend at, four people said, asking not to be ...

  Sharjah / Emirates Business Industry leaders and those working in the exhibitions industry in the Middle East and Africa will join hands with tens of thousands of their counterparts across the world to mark the first ever Global Exhibitions Day on June 8. With 4.4 million companies exhibiting annually at 31,000 shows that are visited by 260 million people ...

  Dubai / WAM Dubai Customs and the UAE Sailing and Rowing Federation (UAE SARF) sealed a partnership agreement setting Dubai Customs as Host Sponsor of the much-anticipated Silver Anniversary Dubai to Muscat Yacht Race, 2016. The agreement was signed by Sheikh Khaled Zayed Saqr Al Nahyan, Chairman of the Federation, and Ahmed Obaid Al Falasi, Executive Director of HR, Finance ...

  Abu Dhabi / Emirates Business Al Masaood Automobiles, the exclusive distributor of Infiniti in Abu Dhabi and Al Ain, has unveiled a range of major Ramadan offers, uniquely tailored to meet individual customer needs. Hot on the heels of the recent launch on Infiniti’s latest models –the QX60 and the QX50 – the promotions offer a great combination of ...