News

  Bloomberg Volkswagen AG’s European first-quarter market share reached a five-year low as auto buyers snubbed the German carmaker’s efforts to resolve its emissions-cheating scandal and turned to models from BMW AG, Fiat Chrysler Automobiles NV and Daimler AG. Volkswagen’s brands, including mass-market Skoda and up-market Audi, accounted for 23.4 percent of new registrations in the three months ended March ...

  Thetford / AFP The Chinese investor group pursuing a takeover of the AC Milan soccer club, which is controlled by former Italian Prime Minister Silvio Berlusconi, is targeting a deal by June, people with knowledge of the matter said. The consortium, whose investors have a background in renewable energy and media, has agreed on most key terms and is seeking ...

  Bloomberg Buyers snapped up $56 billion in Treasury debt at auctions this week, lured by higher yields than found in most other developed nations, as slow global growth and mixed U.S. economic data complicate the Federal Reserve’s efforts to raise interest rates. With investors buoyed by an April 14 report showing benign consumer-price inflation, demand was so strong at ...

  Bloomberg UnitedHealth Group Inc. plans to exit a third state Obamacare market as the insurer works to stem losses from its struggling Affordable Care Act business. The insurer won’t sell policies through Michigan’s ACA exchange for next year, according to Andrea Miller, a spokeswoman for the state’s Department of Insurance and Financial Services. Georgia and Arkansas said last week ...

  Bloomberg Argentina’s first global debt sale in 15 years is receiving “awesome” demand, Finance Minister Alfonso Prat-Gay said. “If you haven’t done it, you might as well call your broker because the demand is awesome,” he said from Washington, where he spoke at an event at Georgetown University during the spring meetings of the IMF and World Bank. “Of ...

Caracas / AFP Venezuela announced it is shifting its time zone forward 30 minutes to save power and alleviate a severe electricity crisis the government blames on the El Nino weather phenomenon. The move, effective May 1, will scrap a half-hour subtraction to the clocks Venezuela’s late former president Hugo Chavez introduced in 2007 that gave his country a slight offset ...

  REUTERS The African nation of Gabon wants to rejoin OPEC after more than two decades, two OPEC sources said, becoming the second former member in a year to seek a return to the oil exporters’ group just as it is taking the first steps in years to prop up prices. If it returned, Gabon would be the smallest producer ...

  Dubai / WAM The 16th edition of the Dubai Derma Conference and Exhibition concluded on Thursday after three days of tremendous success with a consensus from all its visitors, participants, and speakers that Dubai Derma has surpassed all expectations and witnessed a great success. The event succeeded to attract over its 3 days 12,500 visitors and participants. Dr Abdul ...

  ABU DHABI / WAM The UAE maintained, for the third time in a row, its ranking as one of the 10 largest donor states in the Official Development Aid (ODA) in 2015, according to official data collected by the OECD’s Development Assistance Committee (DAC). According to DAC’s data, the UAE posted the highest ODA to Gross National Income (GNI) ...

  Dubai / WAM Jebel Ali Free Zone, Jafza, the flagship free zone entity of Dubai and the trade and logistics hub for the wider Middle East region, registered an additional 60 Indian companies in 2015 from key sectors, including electronics (20%), steel, construction and building materials (19%), chemicals and petroleum products (17%) and FMCG (6%). With over 800 Indian companies ...