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Bloomberg India is seeking to lure US businesses, including medical devices giant Abbott Laboratories, to relocate from China as President Donald Trump’s administration steps up efforts to blame Beijing for its role in the coronavirus pandemic. The government in April reached out to more than 1,000 companies in the US and through overseas missions to offer incentives for manufacturers seeking ...

Bloomberg Viva Republica Ltd, operator of South Korea’s largest fintech startup Toss, is planning to raise about $200 million from investors to bankroll its expansion in online banking and security trading services. The company just embarked on its funding round and hopes to complete it in coming months, founder Lee Seung-gun said in an interview, declining to disclose the expected ...

Bloomberg China’s exports unexpectedly rose in April aided by stronger shipments to South East Asia, though with the coronavirus pandemic damaging global demand that increase is likely to be temporary. Imports fell. Exports rose 3.5% in dollar terms in April from a year earlier, while imports dropped 14.2%, the customs administration said on Thursday. Economists had forecast that exports would ...

Bloomberg The US delayed an annual report to Congress assessing Hong Kong’s autonomy, Secretary of State Michael Pompeo said, amid signals that China’s top agency in the city could take a more hands-on role. The postponement will “allow us to account for any additional actions that Beijing may be contemplating in the run-up to the National People’s Congress that would ...

Bloomberg Telefonica SA and Liberty Global Plc have agreed to create the UK’s largest phone and internet operator, threatening their rivals and marking another industry-defining deal for billionaire John Malone. The deal values the new company at 31 billion pounds ($38 billion), with Telefonica’s O2 being valued at 12.7 billion pounds and Liberty’s Virgin Media valued at around 18.7 billion ...

Bloomberg Industrial production in the euro area’s two largest economies cratered in March, highlighting the crippling impact of just half a month of factory closures to control the spread of the deadly coronavirus. A 9.2% decline in output in Germany and a 16.2% drop in France are the latest signs of the severity of Europe’s slump. The warning from industry ...

Bloomberg AT&T Inc.’s obsession with paying down debt has led to some financial creativity. Right before the end of 2019, AT&T took a collection of cell-tower rent payments that it will receive in the future, rolled them into a subsidiary, then sold shares of the unit to investors for $6 billion. The new entity is called AT&T Investment & Tower ...

ABU DHABI / WAM The Authority of Social Contribution–Ma’an has commenced the first deliveries of its food support scheme, providing more than 512 food baskets to Abu Dhabi citizens and residents whose income has been affected by the current health and economic situation. In partnership with Abu Dhabi Social Support Authority, the food basket deliveries will run for three months, ...

ABU DHABI / WAM The United Arab Emirates on Wednesday sent an aid plane containing 7.7 metric tons of medical supplies to Zimbabwe to bolster the country’s efforts to curb the spread of Covid-19. The aid will assist more than 7,700 medical professionals as they work to combat the virus. Commenting on the aid delivery, Dr Jassim Mohammed Mubarak Al ...

ABU DHABI / WAM The Consumers and Markets Services Sector – the field arm of the Abu Dhabi Quality and Conformity Council (ADQCC)- launched its remote inspection initiative, to inspect online platforms, websites and points of sale, that have become a major preference for many consumers for purchasing their needs. In a statement by the council on Wednesday, the initiative ...