Bloomberg China will “significantly increase purchases” of US goods, the White House said as Beijing’s special envoy at talks in Washington declared a trade war has been averted between the world’s two largest economies. A joint statement released by the White House following the talks didn’t place a dollar figure on the increased purchases by China, or address a comment …

DUBAI / Emirates Business UAE-headquartered upscale residential, hospitality and commercial property developer Seven Tides has revealed plans for its first mixed-use development in Jumeirah Lakes Towers (JLT), in Dubai, with the launch of SE7EN CITY JLT. The project, valued at AED1.3 billion ($350 million), consisting of 2,635 units, is already 15% complete and due for completion within 36 months. The …

Bloomberg Total SA said it will not risk investing in Iran following the return of US sanctions, unless it can secure a waiver. Continuing to do business in Iran would be too great a risk as the company has large operations in the US and depends on the country’s banks for financing its operations, Total said in a statement. So …

Bloomberg Germany brushed aside US concerns about a major natural gas pipeline that will deliver Russian gas to Europe, suggesting President Donald Trump’s administration appears to be protecting its own interests. German Economy Minister Peter Altmaier defended the planned Nord Stream 2 pipeline as Chancellor Angela Merkel meets President Vladimir Putin in Russia. The US warned it may impose sanctions …

Bloomberg Mitsui & Co. Ltd. is buying a 50 percent stake in wind farm developer Yushan Energy Co., giving the Japanese trading house a stake in an offshore power project in Taiwan. Yushan is a unit of Enterprize Energy, which owns a 40 percent net interest in the Hai Long Offshore Wind development in the Taiwan Strait, according to an …

Bloomberg Macquarie Capital is seeking to pare its stake in Taiwan’s first offshore wind farm, people with knowledge of the matter said. The Australian firm, which is an arm of Macquarie Group Ltd., has been reaching out to potential buyers for part of its 50 percent holding in the Formosa I project in the sea off northwestern Taiwan, according to …

Bloomberg The strong dollar is proving too much of a headwind for gold. Hedge funds and other large speculators pared bullish bets on bullion to the lowest in more than two years as the metal fell below $1,300 an ounce for the first time this year, spurring the biggest weekly price decline since December. Money managers headed for the exits …

Bloomberg Chinese-backed Asia Pacific Exchange Pte (Apex) said it will start trading in Singapore from May 25, the latest foray into overseas trading venues by mainland investors. Apex will offer palm olein futures that will be dollar-denominated and physically delivered, it said in a statement. The bourse will be the third derivatives exchange in the city-state, joining venues owned by …

Bloomberg The Federal Reserve is facing calls within its ranks to consider activating an obscure capital buffer meant to bolster big banks against coming storms when economic conditions are sunny. But for now, those pushing to weigh the demand for billions of dollars in new capital haven’t persuaded the key agency staffers who are reviewing the decision, according to people …

Bloomberg Clients looking for investment advice at the biggest Nordic bank have recently been introduced to a robot. Nora, the robo-adviser that Nordea Bank AB launched last month, has already been asked to start investment processes equivalent to 4 percent of the roughly 500,000 people who get savings advice from the bank each year. Nordea wants to use Nora to …