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Bloomberg One surprising part of the trade deal struck between US president Donald Trump and Beijing is that US investors won a direct shot at the potentially lucrative job of helping China clean up its heap of bad debt. China is embracing foreign capital as it grapples with a tide of soured debt. Some estimate it to have topped $1 ...

Bloomberg Shin Kyuk-ho, a wartime migrant to Japan who returned home to build a little-known chewing-gum maker into Lotte Group, South Korea’s biggest retailer, has died. He was 97. Shin had been hospitalised in Seoul to get medical treatment for various age-related symptoms and passed away on Sunday at 4:29 pm, Lotte Group said. Shin was among the last of ...

Bloomberg North Korea named a former army officer who led military and high-level talks between the two Koreas as its top diplomat, Yonhap News reported, in a move that could change the course of stalled nuclear negotiations between Kim Jong-un and US President Donald Trump. Foreign envoys in Pyongyang were notified late last week that Ri Son Gwon replaced Ri ...

Bloomberg Emmanuel Macron’s pre-Davos summit for tech executives will hold some goodies for start-ups. In the third edition of his “Choose France” summit, timed to catch global CEOs in Paris on their way to the Swiss Alps’ World Economic Forum, the French president will detail measures in his 2020 budget that have improved stock options for start-ups in France. Macron ...

Bloomberg GAM Holding AG Chief Executive Officer Peter Sanderson is cutting bonuses and signalling talks on layoffs will begin imminently as the company adapts to losing more than 40% of its key assets in a rogue trading scandal. Bonuses will be cut since underlying profits are materially lower and the company will pay a higher proportion in deferred shares, Sanderson ...

Bloomberg Germany took first place in the 2020 Bloomberg Innovation Index, breaking South Korea’s six-year winning streak, while the US fell one notch to No. 9. Singapore’s leap into the third-place ranking returns it to its post from two years ago. The annual Bloomberg Innovation Index, in its eighth year, analyses dozens of criteria using seven metrics, including research and ...

Berlin / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, held a meeting with the German Chancellor, Angela Merkel, during which they discussed bilateral ties and ways of developing them at all levels. The leaders also spoke about the latest developments in the Gulf and ...

Abu Dhabi / WAM HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union, President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation, has said that the UAE places family cohesion amongst its topmost priorities, as it seeks to be a global model for social cohesiveness and preserved identity. On Saturday, ...

Abu Dhabi / WAM Sanad Powertech, a wholly-owned subsidiary of Mubadala Investment Company, has been awarded a contract for the maintenance, repair and overhaul (MRO) operations of the steam engine and power generator of Shams Power Company, one of the largest operational concentrated solar power plants in the world. The contract was signed during the Abu Dhabi Sustainability Week, held ...

SHARJAH / WAM A community’s advancement is measured by the extent to which it provides care to all segments of society, particularly children, said HH Sheikha Jawaher bint Mohammed Al Qasimi on Saturday. “We must stand by [children], safeguard their rights and protect their consciousness, paving their way for a future that befits their dreams and society’s aspirations,” affirmed Her ...