Uncategorized

Bloomberg The US and South Korea agreed to end their biggest annual joint military drills in a bid to ease tensions with North Korea, a move that comes just days after Donald Trump and Kim Jong-un failed to reach an agreement on denuclearization at a summit in Vietnam. US Acting Secretary of Defense Patrick Shanahan and South Korea’s Defense Minister ...

Bloomberg Muhammad Ridick would rather endure a back-breaking five hours of commuting on his motorbike each day than ride Jakarta’s public transport. “It’s very difficult to get a seat on a bus or train during rush hour,” said Ridick, 25, an employee at PT Telekomunikasi Indonesia, whose 80 kilometer round-trip journey to work and back means he often doesn’t reach ...

Bloomberg Sentiment at Asia’s factories charted another weak month in February amid softening global demand and trade-war jitters. But there were signs of bottoming too: The Caixin China purchasing managers index rose to 49.9, recovering from its biggest drop since July 2015, even as it stayed below the 50 line that separates contraction and expansion. “There is a silver lining ...

Bloomberg Doubts are beginning to gather around the pharmaceutical industry’s biggest-ever takeover after Bristol-Myers Squibb Co.’s second-largest shareholder said that it doesn’t favour a $74 billion takeover of Celgene Corp. Wellington Management Co., which manages about $1 trillion in assets, said in a news release that it “does not believe that the Celgene transaction is an attractive path” for broadening ...

Bloomberg HP Inc.’s shares declined as much as 13 percent after the company warned that sales for its high-margin printer supplies business would fall for the rest of the year, presenting a setback for its effort to boost profitability. HP printer supplies revenue will decline 3 percent for the rest of 2019, driven by weaker demand in Europe, the Middle ...

Bloomberg President Donald Trump’s pledge to his rural agricultural base to allow year-round sales of higher blends of ethanol is spurring differing opinions between two key federal agencies. US Agriculture Secretary Sonny Perdue told lawmakers in a House hearing that a final rule to allow widespread sales of those higher blends “won’t happen” by the summer-driving season following delays from ...

MANAMA / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, met His Majesty King Hamad bin Isa Al Khalifa of Bahrain at Al Sakhir Palace in Manama. The meeting discussed boosting the historic fraternal ties between the UAE and the Kingdom of Bahrain in various aspects for the ...

DUBAI / WAM The Dubai Gold & Commodities Exchange (DGCX) and Dubai Commodities Clearing Corporation (DCCC) on Saturday announced an expansion to their existing portfolio of metals products with the launch of new base metal products. The two new products, Aluminium Futures and Zinc Futures, will go live March 22. The new products will provide investors with an opportunity to ...

Abu Dhabi / WAM The 9th UAE Conference on Small and Medium Enterprises & Innovation was held in Dubai in the presence of Sultan bin Saeed Al Mansouri, Minister of Economy, and Chairman of the UAE SME Council. Al Mansouri emphasised that the UAE’s progress in accelerating the establishment of a robust SME sector according to highest standards stands out ...

HAJAR / WAM Up to 14,000 eligible Yemenis have benefitted from 2,000 baskets holding 160 tonnes of foodstuffs that have been distributed by the Emirates Red Crescent (ERC) among underprivileged households in the Hajar district in Hadramaut Governorate, as well as in Al Modharaba and Raas Al Aara districts in Lahej. The new aid consignment falls within the continuing efforts ...