News

  Paris / AFP France will reject the ambitious TTIP transatlantic trade pact if it endangers the future of French agriculture, President Francois Hollande warned on Sunday. “We in France have to defend a certain number of principles” and be “extremely vigilant as it is the future of agriculture which could be at stake,” Hollande’s office said. French politicians have ...

  Bloomberg Chancellor Angela Merkel’s €1.2 billion ($1.4 billion) electric-car push is a boon to another industry seeking to benefit from the shift beyond gasoline: chipmakers such as Germany’s Infineon Technologies AG. The subsidy program, which kicks off in May with rebates for vehicle buyers and plans for 15,000 battery-charging stations, translates into about $300 million of chips by 2019, ...

  Bloomberg A gauge tracking Poland’s manufacturing industry had its second-biggest one-month decline since the global financial crisis in late 2008, marking “an abrupt loss of momentum” at the start of the second quarter, according to Markit Economics. The Purchasing Managers’ Index fell to 51 last month from 53.8 in March, remaining above the 50 threshold that separates contraction from ...

  Bloomberg Germany and Austria’s prospective breakup of their shared €200 billion-($227 billion) power market is vexing traders and companies that say splitting the union will push up manufacturing costs and drive away investment. Lechwerke AG, a German utility, is resisting supplying its Austrian clients with longer-dated power contracts because it doesn’t know how much to charge them if the ...

  Bloomberg President Dilma Rousseff promised increased spending on her party’s most popular social program and took other measures aimed at her electoral base, less than two weeks before Brazil’s Senate is expected to vote in favor of the impeachment process she calls a coup d’etat. At a rally of labour unions and Workers’ Party faithful in Sao Paulo on ...

  Bloomberg After falling for three months, the dollar is set to rebound, if this historical seasonal chart is any guide. The Bloomberg Dollar Spot Index, which tracks the greenback versus 10 peers, has appreciated in May in every year but one since 2007, according to a Bloomberg Seasonality Chart. That’s the best record among the 12 months. Analysts’ theories ...

  San Francisco / AFP US oil services companies Halliburton and Baker Hughes announced they were calling off their massive multibillion-dollar proposed merger that had met strong resistance from regulators. The deal, announced in November 2014, foresaw a $34.6 billion takeover by Halliburton of its rival, creating a powerful competitor to global industry leader Schlumberger. “Challenges in obtaining remaining regulatory approvals ...

  Bloomberg Puerto Rico will default on a $422 million bond payment for its Government Development Bank, escalating what is turning into the biggest crisis ever in the $3.7 trillion market that U.S. state and local entities use to access financing. Governor Alejandro Garcia Padilla invoked a debt moratorium law approved last month, saying during a televised address that the ...

  Ritika Sharma / Emirates Business From China to Poland and from Italy to Kuwait, the world literature has come on one common platform at 26th edition of Abu Dhabi International Book Fair (ADIBF), which enters its last day on Tuesday. With 63 countries participating, the event brings together a unique experience for literature lovers from all walks and ages. ...

  Ritika Sharma / Emirates Business Highlighting the e-trends in publishing, Abu Dhabi International Book Fair (ADIBF) this year is exhibiting the best of technology in use in the industry worldwide. One such trend, which is fast catching up globally, is of online books and libraries. However, experts say that the region needs to catch up with the pace at ...