Bloomberg US home prices rose 5.6 percent in May from a year earlier as buyers competed for a scarcity of listings. Prices climbed 0.2 percent on a seasonally adjusted basis from April, the Federal Housing Finance Agency (FHFA) said in a report from Washington. The average estimate of 18 economists was for a 0.4 percent gain, according to the …

  Bloomberg Tengda Construction Group Co., which builds municipal infrastructure projects in China, plans to form a 10 billion yuan ($1.5 billion) hydrogen industry fund to finance fuel cells and vehicles powered by the gas. The Taizhou, Zhejiang-based company, agreed to partner with Chang’An International Trust Co., Oriental Patron Financial Group and Bestone Asset Management Co. for the fund, it …

  RITIKA SHARMA / Emirates Business As the UAE takes strides towards promoting environment initiatives, companies in the country are also leading the eco-march by example. In a recent and much-talked-about event, when UAE-based hotels chain ‘TIME Hotels’ grabbed the prestigious Green Key Award, the message went out loud and clear — that UAE is committed to the best when …