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Bloomberg Canada’s unemployment rate fell back to four-decade lows, but sluggish wage increases and slumping exports offer little evidence the economy is running hot enough to warrant accelerated interest rate increases. Statistics Canada released jobs data that showed modest employment gains, but with a shrinking labour force and the slowest wage gains in a year. A separate trade report continued ...

Bloomberg Nokia Oyj said it will reap the rewards of higher spending on next-generation wireless networks in the final months of 2018, after the Finnish company announced an unspecified number of jobs reductions in a $1 billion drive to cut costs to reach long-term targets. The results showed that the company has some way to go to fulfill Chief Executive ...

ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, has said that the issuance of Law No.19 of 2018 on Foreign Direct Investment (FDI), represents a quantum leap in the business environment in the country, strengthening its attractiveness to FDI and supporting its efforts at attracting qualitative investments in sectors such as knowledge, innovation and advanced technology, ...

ABU DHABI / WAM The UAE has reinforced its presence in the world of digital media, through innovative strategies that have helped to convey its message locally and internationally. The UAE’s digital media is being supported by many senior officials. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, declared ...

Dubai / WAM The Global Islamic Economy Summit 2018 in Dubai concluded on Wednesday with a call for halal industries to embrace innovative technologies in order to ensure their sustainable growth. The high-level summit, the largest event dedicated to all aspects of the Islamic economy, was held on October 30-31, and attended by over 3,000 visitors, including HH Sheikh Hamdan ...

Dubai / WAM Dr Thani bin Ahmed Al-Zeyoudi, Minister of Climate Change and Environment, on Wednesday announced that the UAE will contribute $1.5 million annually for the period 2019 to 2021, cumulatively amounting to $4.5 million, to fund the projects carried out by the Global Green Growth Institute (GGGI). The announcement was made at the GGGI’s Assembly and Council, held ...

Bloomberg The US and South Korea have spent almost seven decades honing their preparedness for war. Now fears are growing among the alliance’s proponents that extended peace talks are eroding that advantage. Defense chiefs from the two nations will gather for an annual meeting in Washington on Wednesday facing a radically changed landscape after President Donald Trump’s decision to restart ...

Bloomberg China’s manufacturing sector worsened in October as the trade war hit home, adding to risks the global economy may be edging towards a synchronised slowdown. China’s official factory gauge missed estimates with a reading of 50.2 and its exports sub-index slumped to the lowest reading since early 2016. In other data released on Wednesday, Industrial output for September in ...

Bloomberg The Philippines’ biggest companies face another year of significant repayments of US dollar debt after record amounts came due in 2018, even as a slumping peso makes it costlier to pay back. A total of $4.9 billion in dollar bonds and loans have matured or will still come due in 2018, more than four times the amount last year ...

Bloomberg General Electric Co. plunged the most in nine years after the company disclosed an expanded federal accounting probe and worsening troubles at its ailing power business. The Securities and Exchange Commission is widening its investigation of the company’s accounting to look at a $22 billion charge in the power-equipment unit, the company said as it reported earnings for the ...