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Bloomberg The global collapse in coal prices this year has dealt a particularly heavy blow to miners in Indonesia, the top exporter and one of the largest producers of the fuel. Bonds from the country’s financially weak miners have suffered more than peers elsewhere in Asia due to a lack of diversification and state backing that many competitors enjoy. Prices ...

Dubai / Emirates Business Under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance and President of Dubai Electricity and Water Authority (Dewa) inaugurated on Sunday the 6th World Green Economy Summit (WGES ...

BELGRADE / WAM A Federal National Council (FNC), delegation, led by Dr Amal Abdullah Al Qubaisi, Speaker of the FNC, concluded its participation in the meetings of the 141st General Assembly and the 205th Governing Council of the Inter-Parliamentary Union (IPU), held in the Serbian capital, Belgrade, with the participation of over 1,700 parliamentarians from 140 countries. During the meetings, ...

ABU DHABI / WAM Reem Mall, the world’s first fully digitally enabled smart shopping mall, was officially topped out this week after construction reached the highest point for the new mall structure. The topping out at the AED4.4 billion Reem Mall ($1.2bn) was marked by key project representatives from Al Farwaniya Property Developments including Faisal Sultan, Chairman, David Boesley, Executive ...

Abu Dhabi / WAM Abu Dhabi won first place in the Best Destination – Middle East category for the second consecutive time at the Travel Weekly Asia Readers’ Choice Awards 2019. The award coincided with the emirate’s participation in the 12th edition of the ITB Asia travel trade show in Singapore, where the Department of Culture and Tourism – Abu ...

Bloomberg China’s top trade negotiator offered positive signals that talks with the US are making progress and both sides are working towards a partial trade deal. “China and the US have made substantial progress in many aspects, and laid an important foundation for a phase one agreement,” Vice Premier Liu He said at a technology conference in Nanchang, Jiangxi. He ...

Bloomberg Prime Minister Shinzo Abe’s cabinet approved draft legislation to impose tougher rules on overseas investments in the nation’s stock market, targeting foreign state-owned firms. The planned rules will require overseas investors to report in advance when they plan to buy more than 1% of shares in companies related to Japan’s national security, compared with the current 10% threshold, according ...

Bloomberg President Donald Trump pulled his Trump National Doral golf resort in Miami as the venue for the 2020 Group of Seven meeting after facing widespread criticism that he was using a major government event for personal gain. The search will start for a new location, including the possibility of using Camp David, he said in a tweet. In earlier ...

Bloomberg Sanofi is voluntarily recalling heartburn medication Zantac in the US and Canada amid worries that the medicine may be tainted with a compound that could cause cancer. The French pharma company’s announcement follows decisions from major drugstore operators in the US, including Walgreens Boots Alliance Inc and Walmart Inc, to pull the medication from store shelves. In addition, manufacturers ...

Bloomberg Brexit won’t have a big impact on the European or global economies, former Bank of England governor Mervyn King said, offering a counterpoint to persistent concerns by global policy makers that the move could further dent already-weakening growth. “I don’t honestly believe that Brexit has any great significance even for the rest of Europe, let alone the rest of ...