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Bloomberg At Area 15.1 of the sprawling Canton Fair in the southern Chinese city of Guangzhou, exhibitors from India, Pakistan and Turkey touted their wares to global buyers last week. Their presence at the gathering synonymous with China’s rise as the world’s manufacturing powerhouse illustrates the nation’s shift from sweatshops producing cheap jeans and towels toward branded goods with better ...

Bloomberg Anthem Inc.’s nearly two-year effort to buy rival insurer Cigna Corp. is officially dead. Anthem said that it won’t appeal a Delaware judge’s ruling late that Cigna can walk away from the $48 billion health insurance merger. That leaves the companies to fight over who’s to blame for the deal’s collapse. “The only surprise here is that it took ...

Bloomberg Home Capital Group Inc. said it’s seeking new sources of funding to counter a run on deposits and warned a failure of the Canadian lender would have “significant knock-on effects” in the mortgage market. The struggling lender has “breathing room” to stabilize finances and pursue options following an C$1.8 billion ($1.3 billion) plunge in deposits and a 60 percent ...

Sharjah / WAM His Highness Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, on Thursday inaugurated Medcare Hospital, located on King Faisal Street in Al Qasimia, Sharjah. H.H. Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah was present. As the first initiative of its kind, patients will be able to ...

Abu Dhabi / WAM Abu Dhabi Airports signed an MoU with the Abu Dhabi General Services Company, Musanada, to strengthen cooperation between the two entities in the areas of knowledge sharing and facility development, to further support the growth of the infrastructure sector in Abu Dhabi. The MoU was signed on Thursday by Abdul Majeed Al Khoori, Acting Chief Executive ...

DUBAI / WAM The Republic of Kazakhstan confirmed it will be participating in Expo 2020 Dubai. The announcement comes just weeks before the Central Asian nation hosts its own Expo in the capital city, Astana. Kazakhstan is the latest country to publically confirm it will have a pavilion at the first World Expo in the Middle East, Africa and South ...

Dubai / Emirates Business The largest Bugatti showroom in the world is opening its doors on Sheikh Zayed Road in the centre of Dubai. The French super sports car manufacturer’s facility in Dubai is the 15th location in the brand’s global dealership network with the new award-winning brand design. Bugatti’s longstanding sales and service partner in the UAE is Al ...

Bloomberg What is taxing for some in India has become brisk business for others. With seven weeks to go before the nationwide Goods and Services Tax is implemented, Indian companies are rushing to bring in experts to help prepare their accounting and information technology systems for the tax-system overhaul. That’s created a windfall for international professional services firms, including PricewaterhouseCoopers ...

Bloomberg China National Building Material Group, the nation’s biggest cement maker, aims to capitalize on a surge in business opportunities from President Xi Jinping’s “Belt and Road” initiative as projects spur an infrastructure boom in the region, according to its chairman, Song Zhiping. “If you want to get rich, build a road first,” Song said in a Bloomberg Television interview ...

Bloomberg China’s biggest-ever foreign acquisition frenzy is ending almost as dramatically as it began. After stunning the world with a record $246 billion of announced outbound takeovers in 2016, Chinese dealmakers are now struggling to cope with tighter capital controls and increasingly wary counterparties. Cross-border purchases plunged 67 percent during the first four months of this year, the biggest drop ...