Bloomberg More than two decades after a war split them apart and created one of the biggest national rivalries in Europe, Serbia and Kosovo took a step towards renewing flights between their capitals. In a US-brokered deal, Serbia, Kosovo and carrier Deutsche Lufthansa AG signed a letter of intent that puts in place conditions for the flights to resume. “It …

Bloomberg China’s pledge to boost imports from the US under a recently signed trade deal could end up costing the European Union about $11 billion next year. “If trade costs and hence relative prices do not change, Chinese imports from the US must come at the expense of third countries,” according to Germany’s Kiel Institute for the World Economy, contradicting …

Bloomberg Oil fell as global markets remained comfortably supplied despite the suspension of exports from Libya, and as equities faltered on political and economic worries in Asia. Brent crude lost as much as 1.8% in London, approaching $64 a barrel. Libyan ports have been closed on the orders of militia leader Khalifa Haftar while he haggles over a peace settlement …

DUBAI / WAM Emaar Properties PJSC signed a Memorandum of Understanding with Xiaomi, a global technology leader with the world’s largest Internet of Things (IoT), consumer platform, to launch ‘Emaar Smart Home’ – a new, next-generation product for customers to experience the latest smart home technology powered by Artificial Intelligence. Emaar’s new product will launch in 2020 as an exclusive …

Bloomberg The International Monetary Fund (IMF) predicted the world economy will strengthen in 2020, albeit at a slightly slower pace than previously anticipated amid threats related to trade and tensions in the Middle East. Global growth will accelerate to 3.3% from 2.9% in 2019, marking the first pickup in three years, the fund said. Both figures are down compared with …

Bloomberg The Bank of Japan (BOJ) took a brighter view of the economy and left its main policy settings unchanged on Tuesday, offering a further indication that it is unlikely to add to its stimulus. As had been widely expected, the BOJ raised its growth projections for the first time in a year, thanks to Prime Minister Shinzo Abe’s $120 …

Bloomberg The pound advanced after the UK’s employment rate hit a record high, weakening the case for an imminent interest-rate cut. Sterling rose against all its Group-of-10 peers as the UK labour market figures ended a run of weak economic data. Money markets trimmed bets that the Bank of England (BOE) will lower borrowing costs on January 30 to around …

Bloomberg Palladium’s extraordinary rally has the potential for prices to go on and test $3,000 an ounce, according to Goldman Sachs Group Inc’s Jeffrey Currie, who twinned that outlook with a clear warning that such peaks wouldn’t last for long as the record levels would cut into demand. “The upside potential is significant as the market is now in a …

Bloomberg UBS Group AG missed key targets for 2019 as investors pulled money late in the year, underscoring the challenge for new wealth management co-head Iqbal Khan as he seeks to turn around its most important business. The Swiss bank failed to meet several metrics set during a revamp of its goals just over a year ago, highlighting mounting headwinds …

Bloomberg Citigroup Inc spends about $8.5 billion a year on technology, but the bank’s boss says that doesn’t mean branch workers will all be replaced by machines anytime soon. Modernising the bank’s app and digital-banking experience won’t necessarily result in Citigroup needing fewer people in its retail bank, Chief Executive Officer Michael Corbat said on Tuesday in a Bloomberg Television …