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Bloomberg The US and China signalled a desire to avoid a costly trade war after President Donald Trump offered a lifeline to beleaguered telecom equipment maker ZTE Corp. and China’s Xi Jinping dispatched his top economic adviser to Washington. Vice Premier Liu He — who is Xi’s top aide for economic matters — was expected to travel on Tuesday to ...

Bloomberg India’s new bankruptcy law is being bogged down by bitter court room disputes that include the likes of ArcelorMittal and the Tata Group — jeopardising the law’s promise of time-bound resolution in a country famous for its sluggish legal system. None of the 12 large debtor companies that the central bank forced into bankruptcy court in June have been ...

Bloomberg Xerox Corp. called off a $6.1 billion takeover by Fujifilm Holdings Corp. and parted ways with its chief executive officer, handing a major victory to activist investors Carl Icahn and Darwin Deason. In an agreement with the two investors, which together own about 13 percent of Xerox, the US office equipment supplier said CEO Jeff Jacobson will step down ...

Bloomberg The UK’s biggest bond mutual fund is shifting money to the other side of the Atlantic as the interest-rate gap between Europe and the US widens to record levels. M&G Limited has boosted US holdings in its 23.4 billion pound ($32 billion) Optimal Income Fund this year to more than a third at the expense of positions in French, ...

Bloomberg Suitsupply is suiting up for expansion. The Dutch menswear seller may not yet be a household name outside of the millennial circuit, but it’s spending heavily to change that. It’s gone on a hiring spree to fill its senior ranks — including former executives from Bank of America to Tory Burch — and mapped out a plan for international ...

Abu Dhabi / WAM His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, attended the Adnoc Downstream Investment Forum in Abu Dhabi on Sunday. The event brought together more than 40 leading global energy, petrochemical and other industry CEOs and 800 senior business leaders as ADNOC outlined its new downstream strategy and plans ...

Abu Dhabi / WAM Masdar has helped generate foreign direct investments (FDIs), to the sustainable energy sector in the UAE, by attracting the best organisations worldwide when it comes to sustainable products, Mohamed Jameel Al Ramahi, CEO of Masdar, told the Emirates News Agency (WAM). Al Ramahi made the remarks on the sidelines of the foundation stone-laying ceremony of Saint-Gobain’s ...

Dubai / WAM The Dubai Electricity and Water Authority (DEWA), signed a Memorandum of Understanding (MoU), with Green Business Certification Inc. (GBCI), an independent organisation that recognises excellence in green business industry performance and practices globally, working in 160 countries. According to the MoU, the two organisations will collaborate in research and development, training, and promoting green buildings by applying ...

Dubai / WAM In cooperation with Dubai Future Foundation (DFF), Dubai Airport Free Zone Authority (DAFZA) has developed two initiatives with the aim of placing Dubai 10 years ahead of other leading cities under Dubai 10X initiative. The first of them, ‘Dubai Blink’, is the world’s first B2B smart commerce platform while the second is the ‘Free Zone Exchange – ...

Bloomberg One of President Donald Trump’s most contentious foreign policy projects, the inauguration of a US embassy in Jerusalem, is set to be carried out on Monday even as peace in the Middle East seems more elusive than ever. While Trump, who vowed to move the embassy from Tel Aviv during his campaign, isn’t attending, he’ll address invitees to the ...