News

  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 ...

  Abu Dhabi / WAM The UAE has expressed its sincere condolences and solidarity with the Republic of South Africa over the victims of a fuel tanker explosion in Johannesburg, which resulted in dozens of deaths and injuries. In a statement, the Ministry of Foreign Affairs and International Cooperation expressed its sincere condolences and sympathy to the government and people ...

Dubai / WAM Air Cargo Centres Management has dealt with 81.162 billion items of goods since the beginning of 2022 until the end of November, with an estimated value of AED 875.86 billion ($238.4bn), including insurance and shipping costs. The management includes Cargo Village (customer service and inspection), Airport Free Zone (customer service and inspection), Emirates Post Inspection Centre, Air ...

  Bloomberg Russia may reduce its oil output by 500,000-700,000 barrels a day in early 2023 in response to the Group of Seven’s price cap on the nation’s crude exports, according to Deputy Prime Minister Alexander Novak. “We are ready to partially cut our production early next year,” he said in an interview with Rossiya-24 TV channel, adding the volumes ...