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  Bloomberg China has provided the clearest indication to date that it plans to lift the cap on how much foreign carmakers can own of their local joint ventures, putting pressure on Chinese carmakers to speed up the building of their own brands. In a joint release on Tuesday, the National Development and Reform Commission together with the science and ...

  Bloomberg Indian billionaire Kumar Mangalam Birla is exploring entry into the production of carbon fiber, a high-strength and light-weight composite material expected to be a $4.7 billion global business by 2022, according to a person familiar with his thinking. The Aditya Birla Group, the $40 billion mining-to-mobile phone carrier conglomerate, may buy the technology to manufacture carbon fiber at ...

  Bloomberg US President Donald Trump intensified a trade dispute with Canada, slapping tariffs of up to 24 percent on imported softwood lumber in a move that drew swift criticism from the Canadian government, which vowed to sue if needed. Trump announced the new tariff at a White House gathering of conservative journalists, shortly before the Commerce Department said it ...

  Bloomberg Britain kept to its borrowing forecasts in a pre-election boost for Chancellor of the Exchequer Philip Hammond but cracks in the public finances are appearing as consumers feel the pain from inflation. The deficit narrowed to 52 billion pounds ($66.6 billion) in the fiscal year through March, in line with the 51.7 billion pounds forecast by budget officials ...

  Tokyo / WAM Japanese Prime Minister, Shinzo Abe, received HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and his accompanying delegation in Tokyo on Monday. During the meeting, which was held as part of Sheikh Abdullah’s official visit to Japan, the two sides discussed cooperation and the friendly relations between the UAE and Japan ...

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, visited on Monday the Abu Dhabi Global Market (ADGM) on Al Maryah Island in Abu Dhabi. He was accompanied by HH Sheikh Tahnoun bin Zayed Al Nahyan, National Security Adviser, HH Sheikh Hamed bin ...

  Dubai / WAM New Zealand Minister for Economic Development, Simon Bridges formally announced the country’s participation in Expo 2020 Dubai on Monday by delivering a letter of acceptance from Simon William English, Prime Minister of New Zealand. The country shares close ties with the UAE, as well as a shared vision in many key areas, such as energy and education. ...

  Dubai / Emirates Business Dubai’s tourism sector sustained the momentum of its strong 2017 start, with the emirate’s Department of Tourism and Commerce Marketing (Dubai Tourism) reporting a stellar 11 percent increase in overnight visitation in the first three months of the year compared to the same period in 2016. January to March 2017 saw 4.57 million travellers visit ...

  Bloomberg The challenge is daunting: Convert an economy of more than 1 billion consumers, 29 states, 22 official languages, 9 million businesses all operating under a spider’s web of taxes, arcane regulations and competing political ambitions into a unified common market. But that’s the goal as India gets ready to roll out a goods-and-services tax after a 10-year battle ...

  Bloomberg China’s boom in wealth-management products worth trillions of dollars, under scrutiny from regulators because of potential threats to financial stability, is slowing for now. Outstanding products issued by banks stood at 29.1 trillion yuan ($4.2 trillion) as of March 31, up 18.6 percent from a year earlier, according to the China Banking Regulatory Commission. The growth rate slumped ...