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Bloomberg The pressure on consumers from the soaring cost of living was laid bare as Britain published its most complete picture of the economy in the first three months of the year. Britons saved a smaller proportion of their incomes than at any time on record and household incomes adjusted for inflation fell for a third straight quarter, the longest ...

Bloomberg President Donald Trump hasn’t decided yet whether to impose punitive measures on steel imports for reasons of national secur- ity, as the administration missed a self-imposed deadline to conclude its investigation. While the Commerce Department has until early next year to determine whether foreign-made steel threatens US security under Section 232 of the Trade Expansion Act, Secretary Wilbur Ross ...

Bloomberg President Xi Jinping warned a divided Hong Kong that challenges to China’s rule wouldn’t be tolerated and said the city’s leaders must find new ways to profit from Chinese economic clout. Xi’s stern speech on Saturday — at a ceremony in which he swore in Carrie Lam, 60, as Hong Kong’s first female chief executive — capped a three-day ...

Bloomberg A Tokyo election this weekend gives Japanese Prime Minister Shinzo Abe a chance to stop the bleeding from a series of recent scandals that hurt his popularity. Polls indicate that his Liberal Democratic Party (LDP) risks losing its position as the largest party in the capital’s assembly on Sunday to a group led by Governor Yuriko Koike, who resigned ...

Dubai / Emirates Business The 2016/2017 Dubai Cruise season officially concluded with the departure of the season’s final ship, the C.S. Sea Princess, from Port Rashid recently. After a stopover in Dubai, the luxury ship’s only port of call in the GCC, the C.S. Sea Princess continued her voyage to Aqaba as part of a 104-nights round trip around the ...

Dubai / WAM The Roads and Transport Authority (RTA), revealed that a total of 2,891,557 people used public transport in Dubai during the Eid Al Fitr holiday. Nasir Hamad Bu Shehab, CEO of the Strategy and Corporate Governance Sector, RTA, said, “During the Eid Al Fitr holiday, the Dubai Metro carried 1,500,899 riders between the Red Line (980,278) and the ...

Dubai / WAM The manufacturing industry in the UAE is expected to become one of the highest contributors to the country’s economy with a robust infrastructure, strategic location and significant subsidies for manufacturers. With the support of Dubai Exports as a government partner, Expotrade is organising the Future Manufacturing and Trade Summit, earlier called the GCC Manufacturing Excellence and Technology ...

Cairo / WAM A total of 900,000 children and elderly people across Egyptian villages have been offered free medical treatment through more than 55 medical caravans as part of the Zayed Giving Initiative, bringing to over six million the number of children and old people who have benefited from the scheme across the world. The mobile hospitals, which are fully ...

Bloomberg Alibaba Group Holding Ltd. will invest another $1 billion to raise its stake in online mall Lazada Group SA to 83 percent, securing control of a fast-growing startup at the vanguard of its Southeast Asian expansion. The Chinese e-commerce leader is buying out most other backers in a deal that values the Singapore-based startup at $3.15 billion, Lazada CEO ...

Bloomberg Takata Corp. shares tumbled as much as 69 percent to a record low as the Tokyo Stock Exchange removed daily limits on the stock’s price declines following the company’s bankruptcy protection filings in Japan and the US The stock traded at 35 yen as of 11:21 a.m. in Tokyo trading. Shares of the air-bag maker have slumped 91 percent ...