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Bloomberg These are great times for China’s gargantuan steel industry as product prices soar to multi-year highs, mills’ profits swell and speculators stake out record positions in futures markets in the country that makes half of global supply. They could be over soon. While demand in Asia’s top economy has remained strong, “as the property market cools and investment growth ...

Bloomberg The US will seek to use a United Nations fund designed to aid nations hard hit by climate change to promote the construction of coal-fired power plants around the world. The US already donated $1 billion to the so-called Green Climate Fund, and it can now use its seat on that board to advance American-energy interests globally, a White ...

Bloomberg European car demand rose at a slower pace in June as fewer selling days in Germany and Brexit-related concerns in the UK weighed on a peaking vehicle market. Industrywide registrations increased 2.1 percent from a year earlier to 1.54 million vehicles last month, with Toyota and Fiat models posting the biggest gains, the European Automobile Manufacturers’ Association, or ACEA, ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, visited the Dubai Design District, d3, where he reaffirmed the importance of nurturing talent and innovation, which, he said are “fundamental pillars of sustainable development”. He was accompanied by HH Sheikh Maktoum bin Mohammed bin Rashid Al ...

Ras Al Khaimah / Emirates Business Ras Al Khaimah Tourism Development Authority (RAKTDA), which develops the emirate’s tourism infrastructure and initiates its domestic and overseas promotions, has revealed Ras Al Khaimah is on track to surpass its annual visitor target after the emirate’s hotels reported a 10 per cent year-on-year increase in international guest arrivals during the first six months ...

DUBAI / WAM Expo 2020 Dubai’s highly successful BusinessConnect F&B session has marked the first step on the journey to Expo for small and medium sized enterprises, SMEs, in the food and beverage sector. The session, which saw more than 100 SMEs take part, outlined the food and beverage pathway and timeline, including encouraging them to sign up to the ...

Bloomberg President Donald Trump’s credibility took a sharp blow after his son released emails that directly contradict months of assertions that investigations of possible campaign collusion with Russia were nothing more than a partisan “witch hunt.” Just 173 days in office, Trump already has seen his political clout depleted by a stymied agenda in Congress and approval ratings consistently under ...

DUBAI / Emirates Business Dubai SME, the agency of Dubai Economy mandated to develop the small and medium enterprise (SME) sector, has signed a memorandum of understanding (MoU) with Souq.com to launch an e-commerce initiative for SMEs. Under the MoU, the two sides will work together to provide Dubai SME members with integrated e-commerce solutions comprising online product display, e-payment, ...

Bloomberg China’s clampdown on the use of virtual private networks to circumvent the country’s internet controls risks disrupting businesses that depend on them for cloud services and data security. Besides using virtual private networks to gain access to websites like Facebook and Google blocked by China’s regulators, companies use VPNs to ensure speed and efficiency as they migrate more services ...

Bloomberg Global demand for new smartphone models is driving Taiwan’s trade surplus and corporate revenues to record highs, underlining the strength of Asian trade even in the face of geopolitical jitters and rumors of protectionism. As a result, Taiwanese companies are posting record sales, a development they owe largely to an upswing in the global electronics industry. As Apple Inc. ...