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Bloomberg Wages for China’s newest college graduates are plunging even as their ranks rise to a record. That’s unwelcome news for the nation’s young elite, but it may aid policy makers striving to shift the economy into higher technology industries and services. Monthly salaries plummeted 16 percent to 4,014 yuan ($590) this year for a second-straight annual decline, data from ...

Bloomberg The response to President Donald Trump’s announcement he was exiting the Paris climate accord and wanted to renegotiate on his terms was immediate: The leaders of France, Germany and Italy said no. On Wall Street, corporate executives pilloried the businessman president. Goldman Sachs’ CEO tweeted for the first time, calling the move a setback for the world. Tesla Inc.’s ...

Bloomberg President Donald Trump’s plan to exit the Paris climate accord is seen curbing the willingness of European Union lawmakers to tackle low carbon prices. Europe will probably need to focus on protecting its industry from economic costs the US now won’t bother with, said Andrei Marcu, a senior fellow at the International Centre for Trade and Sustainable Development in ...

Bloomberg Forget car salesmen. General Motors Co. should think a little more like ice cream vendors, according to billionaire hedge fund manager David Einhorn. Einhorn has been waging a months-long battle with GM to get the largest US automaker to split its stock into two classes — one would collect on the company’s dividend, and the other would capture the ...

Bloomberg There are plenty of explanations for the weaker-than-expected May jobs report, but the big picture is clear: The US labour market has lost some of its mojo. Monthly payroll gains are averaging 162,000 this year, a step down from the 2016 pace of 187,000, following a below-forecast rise last month and downward revisions to March and April in Labor ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, accompanied by HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, on Wednesday launched the ‘Dubai Cyber Security Strategy’ that aims to strengthen Dubai’s position as a world ...

Dubai / WAM Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of the Dubai Islamic Economy Development Centre, DIEDC, has announced that the centre has made remarkable progress in three strategic sectors of the Islamic economy: Islamic finance, Halal trade and industry, and Islamic lifestyle. He noted that among the objectives of DIEDC’s updated strategy for 2017-2021, are ...

Dubai / Emirates Business His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority (DSOA), on Wednesday launched Dubai Smart City Accelerator – the first of its kind in the MENA region – within DSOA’s wholly owned Dubai Technology Entrepreneur Centre (Dtec), the largest hub of its kind in the Middle East. His Highness Sheikh Ahmed ...

Bloomberg A suicide truck bomb in Kabul killed as many as 80 people and wounded 350 on Wednesday morning near a diplomatic enclave in the worst attack on the Afghan capital in 10 months. The explosion happened near the German embassy about 8:25 a.m. in the Wazir Akbar Khan area, a busy neighborhood that’s home to the presidential palace and ...

Bloomberg India’s introduction of a single nationwide goods and services tax may have an unexpected consequence: prompting more companies to sell shares to the public. That’s the view of Ashishkumar Chauhan, chief executive officer of BSE Ltd., the operator of the Bombay Stock Exchange. He says smaller firms that become tax-compliant due to the levy, scheduled for implementation on July ...