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  Bloomberg Iron ore will defy forecasts for a dramatic price collapse as China’s economy remains strong and the top buyer boosts demand for higher-quality imports, according to Rio Tinto Group, the second-largest exporter. “I wouldn’t necessarily say that it’s going to fall off a cliff,” Chief Financial Officer Chris Lynch said in an interview with Bloomberg Television’s Daybreak Australia. ...

  Bloomberg Japan’s economy is cruising along, at least by its own recent standa- rds, with real growth clocking in at 1 percent in 2016. It may have reached top speed. Real gross domestic product expanded for a fourth consecutive quarter at the end of 2016, the best run in more than three years. A number of indicators are flashing ...

  Bloomberg The European Union’s parliament approved a trade deal with Canada on Wednesday, extolling the pact as a sign of cooperation at a time when many political forces, including US President Donald Trump’s administration, are trying to halt globalization. After three hours of debate on Wednesday and years of negotiations preceding that, the legislature approved the deal by a ...

  Bloomberg American International Group Inc. posted its fourth loss in six quarters, burned again by higher-than-expected claims costs as Chief Executive Officer Peter Hancock struggles to sustain profitability. The net loss widened to $3.04 billion, or $2.96 a share, from a $1.84 billion, or $1.50, a year earlier, the New York-based insurer said in a statement. The fourth quarter’s ...

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, and Prime Minister of UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, unveiled on Tuesday the “Mars 2117 Project” which aims at its final stage to establish the ...

  Dubai / WAM Ohood bint Khalfan Al Roumi, Minister of State for Happiness, Director-General of the Prime Minister’s Office of the UAE and Deputy Chairman of the World Government Summit, and Angela Maria Gonzales Loayza, Secretary-General of the Administrative Department of Civil Service of Colombia, signed a Memorandum of Understanding (MoU) on behalf of their governments to promote co-operation in ...

  WASHINGTON / AP President Donald Trump’s embattled national security adviser Michael Flynn resigned following reports he misled Vice President Mike Pence and other officials about his contacts with Russia. His departure upends Trump’s senior team after less than a month in office. In a resignation letter, Flynn said he gave Vice President Mike Pence and others “incomplete information” about ...

  Dubai / Emirates Business DAMAC Properties Dubai, a leading property developer in the Middle East, on Tuesday announced the financial results for the full year 2016. During 2016, DAMAC recorded revenues of AED7.16 billion, with gross profit margins at 56%. Net profit for the reporting period stood at AED3.69 billion, achieving net margins of 52%. Total assets increased 5% ...

  Bloomberg Toshiba Corp. had promised on Tuesday would be the day it explained the depth of trouble in its nuclear business. Instead, the company provided hours of chaos that shook investor confidence and raised new questions about the company’s future. It began with Toshiba confirming plans to report earnings at noon in Tokyo, including a looming multibillion-dollar loss in ...

  Bloomberg Singapore’s central bank said it will allow foreign takeovers of the country’s three finance companies, as part of wider industry changes that seek to boost lending to small and medium-sized enterprises. The Monetary Authority of Singapore is prepared to consider applications for mergers or acquisitions if any prospective partner “commits to maintaining SME financing as a core business” ...