News

Bloomberg Russia hasn’t been able to line up a suitable lead manager for a planned $3 billion Eurobond because of U.S. and EU pressure on major banks not to participate, meaning the high-profile sale is likely to be delayed or even shelved, senior officials said. Only two Western banks are still interested in helping sell the bond, one of the ...

Bloomberg The U.S. economy grew in the fourth quarter at a faster pace than previously estimated, supported by stronger household spending that’s helping cushion the expansion from weakness overseas. The revised 1.4 percent increase in gross domestic product, the value of all goods and services produced, compares with the Commerce Department’s previous estimate of 1 percent, according to figures issued ...

Bloomberg Payrolls rose in 36 states in February and the unemployment rate dropped in 22, a sign labor market slack is gradually diminishing in the U.S. economy. California led the nation with an almost 40,000 increase in employment, followed by a 25,100 advance in New York, figures from the Labor Department showed. Jobless rates in New Hampshire and South Dakota ...

Washington / AP House Republicans are preparing legislation to create a new oversight board that would help Puerto Rico control its finances, a move designed to deal with the territory’s $70 billion in debt. The legislation is in response to House Speaker Paul Ryan’s promise at the end of last year that the House would work with Puerto Rico to ...

Bloomberg Argentina’s historic return to capital markets is facing a new hurdle as holders of as much as $1.5 billion in bonds from its 2001 default say they’ve been unfairly left out of settlement offers. Some of those investors — including Fore Research & Management LP and Varde Partners — teamed with others seeking to keep a judge’s order in ...

Bloomberg If the president can take his family to Cuba, other Americans will want to follow. And if blue-chip companies such as Google and Starwood are opening there for business, so will other companies. More important than any diplomatic negotiation during President Barack Obama’s historic visit, are images from his visit that the administration says solidify public perceptions of the ...

RITIKA SHARMA / Emirates Business What could be more exasperating than being stuck in traffic on your way for that season-end sale? It is the confusion that prevails while you try to locate your store in the huge mall and the struggle to find the shortest and sanest directions to your destination before the stock (and your enthusiasm) gets over. ...

Sunaina Rana / Emirates Business The Middle East amusement industry has started turning heads since the rise of educational theme parks in the country. Fondly known as ‘Eduplays’, the edutainment platforms have attracted the interest of the international stakeholders towards the region’s entertainment and retail industry. “The entertainment and amusement sector as a whole will boost the region’s tourism. Under ...

Emirates Business The 2016 edition of the annual Young Entrepreneur Competition, held under the patronage of His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince and Chairman of the Executive Council of Dubai, will begin at Dubai Festival City Mall on the March 30. Organised by Dubai SME, the agency of the Department of Economic Development mandated ...

Alkesh Sharma / Emirates Business Imagine a day with low-vision or totally blind. How would you pair your outfit, choose your coffee brand at the supermarket or check the change at the grocery store? For 285 million people suffering from vision problems worldwide (as per the International Agency for the Prevention of Blindness), these everyday tasks are really gruelling. This ...