Uncategorized

  Bloomberg China Petroleum & Chemical Corp. is selling a 50 percent stake in a pipeline unit to investors including China Life Insurance Co. for 22.8 billion yuan ($3.3 billion) as it seeks funds to expand its natural gas business. China Life will pay 20 billion yuan for a 43.86 percent stake in the pipeline, while a division of State ...

  Bloomberg China’s industrial output and retail sales growth both accelerated in November, government data showed on Tuesday, in a sign of stabilisation for the world’s second-largest economy. Industrial output rose 6.2 percent in the month, ahead of both October’s figures and economists’ predictions of 6.1 percent in a Bloomberg News survey. Retail sales rose 10.8 percent on-year in nominal ...

  Bloomberg Spain must make further efforts to reduce long-term unemployment and continue its budgetary adjustment process, the International Monetary Fund said, while noting that the nation’s economic recovery remains robust. In its concluding statement after its assessment of the country’s economic performance, the Washington-based institution said Spain witnessed an “impressive recovery” helped by reforms, fiscal loosening and the European ...

  Bloomberg UK inflation accelerated more than economists forecast in November, boosted by prices for clothing and gasoline. The jump to 1.2 percent from 0.9 percent in October means consumer prices are rising at the fastest pace since October 2014. Economists had anticipated an increase to 1.1 percent. The latest data from the Office for National Statistics also added to ...

  Abu Dhabi / Emirates Business The second edition of the Global Summit of Women Speakers of Parliament convened a panel of experts who examined the geopolitical, socioeconomic, educational, environmental and technological megatrends that are shaping our future and changing the world and how it is governed. Under the title ‘Reimagining the Future: The Megatrends Shaping Our World’ led byJohn ...

  Dubai / Emirates Business The adoption of value added tax (VAT) by the GCC countries represents a major shift in tax policy that will impact all segments of the economy and lead to a fundamental change in the way businesses operate across around the region. According to EY, the VAT of 5% is expected to produce revenues of over ...

  Aleppo / AFP The Syrian army captured a major district of Aleppo on Monday from rebel fighters, now confined to a small pocket of their former bastion in the city’s east. President Bashar al-Assad’s forces held more than 90 percent of the onetime opposition stronghold, a monitor said, and appeared on the verge of retaking the whole city. The fall ...

  Beijing / AFP Beijing issued its first clear warning on Monday over Donald Trump’s fiery rhetoric, as state media said the Asian giant could back “forces hostile to the US” if the president-elect follows through with threats to drop Washington’s One China policy. It was the strongest signal yet from Chinese authorities that abandoning the One China policy, which ...

  Dubai / Emirates Business The healthcare industry in the GCC is expected to continue its robust growth propelled by demographic and macroeconomic factors in the region; said a market analysis report that was recently released by Al Masah Capital Limited. Given the demand for specialized services amidst an ageing population and prevalence of lifestyle diseases, the GCC healthcare sector ...

  Emirates Business UAE’s leading financial institution, Mashreq and Novo Cinemas, a leading cinema chain in the Middle East announced the launch of a new strategic partnership that is set to completely change customers’ cinema experience. The official signing was attended by Subroto Som, Head of Retail Banking Group at Mashreq and Debbie Stanford – Kristiansen, CEO of Novo Cinemas, ...