Bloomberg Insurers have had about enough of hedge funds. Stung by market-trailing returns, the industry in the U.S. is reversing course after more than doubling its hedge fund allocation over five years, to $17.7 billion as of Dec. 31, according to data from the National Association of Insurance Commissioners. Just this month, American International Group Inc. said it submitted ...

  Dubai / Reuters Most Gulf stock markets rose on Tuesday but trading volumes were small as some investors stayed away because of the approach of the holy month of Ramadan and summer holidays, when activity tends to decrease in some bourses. Dubai’s index spent most of the day little changed but closed 1.0 percent higher after a surge in ...

  Singapore / Bloomberg Empty storefronts in Singapore’s prime shopping district may become a more common sight. Vacancies in the city’s main Orchard Road area, a magnet for tourists lured by malls and Japanese department stores such as Takashimaya, have risen to a five-year high and across the island, they’ve soared to the highest since 2009. As economies around the ...