News

  Bloomberg The world faces a recession in 2023 higher borrowing costs aimed at tackling inflation cause a number of economies to contract, according to the Centre for Economics and Business Research (CEBR). The global economy surpassed $100 trillion for the first time in 2022 but will stall in 2023 as policy makers continue their fight against soaring prices, the ...

  Bloomberg US lawmakers ratcheted up pressure on Chinese companies whose shares list on American stock exchanges to be more transparent with their financial audits. Congress passed legislation to speed up the timeline for kicking companies off the New York Stock Exchange and Nasdaq if Washington regulators can’t fully review their audit work papers. After months of high-stakes drama, the ...

  Bloomberg TC Energy Corp will begin the process of restarting the segment of its Keystone pipeline that goes to crude storage hub Cushing, Oklahoma, after receiving regulatory approval, the company said on its website. The restart will take several days. TC Energy has been targeting a full return of the pipeline system on December 28 or 29, according to ...

  Bloomberg China’s economy continued to slow in December as the massive Covid-19 outbreak spread across the country, with activity slumping as more people stay home to try and avoid getting sick or to recover. Bloomberg’s aggregate index of eight early indicators showed a contraction in activity in December from an already weak pace in November and the outlook is ...

Bloomberg Toyota Motor Corp said its global output hit a record for November, thanks in part to solid consumer demand, though it warned of an uncertain outlook due to a persistent shortage of semiconductors and spikes in Covid cases in China. The world’s No. 1 automaker produced 833,104 vehicles last month, an increase of 1.5% from a year earlier. Global ...

  Bloomberg Japan’s buyers of Russian liquefied natural gas are assessing how imminent changes to shipping insurance — triggered by the ongoing war in Ukraine — will affect supplies from the key Sakhalin-2 project in Russia’s Far East. Three Japanese insurance companies — Tokio Marine Holdings Inc, Sompo Holdings Inc and MS&AD Insurance Group Holdings Inc — will stop providing ...

  Bloomberg India will provide free grains to about 800 million people for one year, a move that could help the ruling party reap political benefits and set the tone for PM Narendra Modi’s reelection for a third term. The government will spend 2 trillion rupees ($24.1 billion) on the program, Food Minister Piyush Goyal said after a cabinet meeting. ...

  Bloomberg Advent International Corp, one of the world’s largest private equity firms, will purchase a controlling stake in India’s Suven Pharmaceuticals Ltd for at least 63.13 billion rupees ($762 million), triggering an open offer to buy further shares in the family-run firm. The buyout firm agreed to acquire 50.1% of Suven from the Jasti family, according to an exchange ...

  Dubai / WAM The Ministry of Climate Change and Environment (MOCCAE) hosted the first meeting of the Farmers’ Council, presided over by Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment. The meeting highlighted the government directions to promote sustainable modern farming systems across the UAE to increase the agricultural sector’s productivity and commercial value and enhance ...

  Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, said Dubai’s strategy for delivering services is based on the integration, interconnection, and simplicity of digital services. This makes the city’s services more accessible, efficient and secure, accelerating Dubai’s transformation into a global digital capital, His ...