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  Bloomberg After nearly half a century expanding its bread-and-butter business into one of the world’s largest metal smelting operations, Korea Zinc Co is setting its sights on renewable energy to cut costs and drive growth. The Seoul-headquartered zinc, gold, silver and lead smelter plans to invest $6.6 billion over the next eight years developing solar and wind power generation ...

Bloomberg India’s move to restrict wheat exports is set to reverberate through global agricultural markets, exposing just how tight global supplies are after the war in Ukraine and threatening to drive up food prices even more. The government said in a notification it will suspend overseas sales to manage its food security. This drew criticism from the agriculture ministers of ...

  Bloomberg Singaporeans are flocking to apply for passports after travel restrictions eased, unlocking pent-up wanderlust after two years of Covid-19 restrictions. The number of passport applications has spiked to more than 7,000 a day, peaking at 14,000, according to the Immigration & Checkpoints Authority, which described the surge as “overwhelming.” That compares with about 2,000 a day before the ...

  Bloomberg Hiro Mizuno, former chief investment officer of Japan’s GPIF, the world’s largest pension fund, has recounted how Kofi Annan once said to him that Asian nations were a “desert” of responsible financing. Mizuno told the story in 2019, two years after he began to champion investing based on environmental, social and governance metrics. Things have changed since then. ...

Bloomberg Finland announced it will apply to join Nato, and Sweden is likely to follow. Turkey doesn’t plan to block the Nordic countries’ membership bids, Nato chief Jens Stoltenberg said after meetings in Berlin. The military alliance in June is expected to highlight Russian behavior as a direct threat in an updated strategic document. The UK defense ministry estimated that ...

Bloomberg California Governor Gavin Newsom said that his state has a record $97.5 billion operating surplus, as high tax rates on its wealthiest residents mean he has more cash to fund liberal priorities such as education and health care. The surplus is bigger than the entire 2020 spending of any other state except New York and Texas. Of that windfall, ...

Bloomberg The European Union (EU) cut its prediction for 2022 euro-area growth and almost doubled its estimate for inflation, according to new draft projections. In the first forecast since the outbreak of war in Ukraine, the European Commission says gross domestic product will expand 2.7% in 2022 and 2.3% in 2023, according to a draft seen by Bloomberg. That’s down ...

  Bloomberg Technology companies including ASML Holding NV and Adyen NV called on the Dutch government to maintain a tax break that seeks to attract expatriates to the Netherlands. Ingrid Thijssen, head of the Confederation of Netherlands Industry and Employers, said the government for budget reasons is considering shrinking or scrapping a rule that exempts 30% of an expat’s salary ...

Abu Dhabi / WAM The Federal Supreme Council on Saturday unanimously elected His Highness Sheikh Mohamed bin Zayed Al Nahyan as President of the United Arab Emirates. The council held a meeting on Saturday at Al Mushrif Palace in Abu Dhabi, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Ruler of the Emirate of Abu Dhabi, received condolences on the passing of Sheikh Khalifa bin Zayed Al Nahyan, from His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai; HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme ...