News

  Bloomberg Signs are growing in China that local government debt burdens are becoming unsustainable. China’s 31 provincial governments have a stockpile of outstanding bonds that’s close to the Ministry of Finance’s risk threshold of 120% of income. Breaching that line could mean regions will face more regulatory hurdles to borrow, hampering their ability to drive up economic growth. In ...

  Bloomberg India wants to narrow its budget deficit by at least 50 basis points, according to people familiar with the matter, as authorities balance global investor scrutiny with the need for higher spending as the nation enters an election year. Finance Minister Nirmala Sitharaman will seek to shrink the shortfall to less than 6% of gross domestic product in ...

Bloomberg A South Korean official said the government is considering issuing an order to disband a strike by truck drivers that has blocked ports and industrial complexes, hampering supplies of key exports. “We are doing our best to minimize supply disruptions and taking emergency steps,” said Transport Minister Won Hee-ryong during a visit to the port of Busan on Thursday. ...

  Bloomberg Adani Enterprises Ltd. seeks to raise 200 billion rupees ($2.5 billion) by selling new shares as billionaire Gautam Adani’s flagship firm looks to increase its free float and improve leverage ratios. The board of the Ahmedabad-based company, helmed by Asia’s richest person, approved a further public offer of equity shares, according to an exchange filing Friday. The breakneck ...

Bloomberg Baidu Inc. posted a surprise gain in revenue after cost cuts helped prop up the bottom line and online advertising held up better than anticipated against China’s economic downturn. Sales rose slightly to 32.5 billion yuan ($4.6 billion) in the September quarter, beating expectations for 31.8 billion yuan. The company posted a net loss of 146 million yuan in ...

Bloomberg Oil falls for a second day as the European Union (EU) considered a higher-than-expected price cap on Russian crude and evidence mounted of challenges to demand. West Texas Intermediate slipped below $78, trading in a narrow range and with volumes thin due to a US holiday. EU diplomats are locked in negotiations over how strict the Russian mechanism should ...

  Dubai / WAM The Mohammed Bin Rashid Space Centre (MBRSC) confirmed a new date for the launch attempt of the Emirates Lunar Mission. The inaugural launch of the Rashid Rover is now scheduled to take place on November 30 at 03:39 AM Eastern US Time or 12:39 PM UAE time. In collaboration with the partners – SpaceX and ispace, ...

Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD) signed a financing agreement with the Argentine government for an AED105.8 million ($28.8 million) project to build modern water plants and rehabilitate and expand existing water stations in 26 villages in Cordoba province. The agreement was signed by Mohamed Saif Al Suwaidi, Director-General of Abu Dhabi Fund for Development; and ...

  Abu Dhabi / WAM Emirates Global Aluminium (EGA) purchased Clean Energy Certificates for 1.1 million megawatt hours of electricity supplied by Emirates Water and Electricity Company (Ewec), supporting EGA’s production of CelestiAL solar aluminium. The certificates track the use of solar power from Noor Abu Dhabi, one of the world’s largest single-site solar power plants. Noor Abu Dhabi is ...

  Abu Dhabi / WAM The Abu Dhabi BusinessWomen Council (ADBWC) has received a delegation from the Women’s League of Central Asia (Kyrgyzstan Republic) to promote the development and diversification of economic and bilateral partnerships between women entrepreneurs in Kyrgyzstan and the UAE. The meeting was attended by Asma Al Fahim, Chairwoman of the ADBWC; Noor Al Tamimi, member of ...