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Bloomberg South Korea’s finance ministry has drawn up an 11.2 trillion won ($10 billion) supplementary budget to help meet President Moon Jae-in’s effort to increase jobs and incomes. If passed by the parliament, the finance ministry plans to use 4.2 trillion won of the spending package to create 86,000 new jobs, 71,000 of them in the public sector, including positions ...

Bloomberg Shares of jewellers climbed in India after the government set the rate for gold under the uniform goods and services tax below expectations, signaling a potential recovery in demand in the world’s second-largest market. Titan Co. advanced as much as 15 percent to a record 542.50 rupees ($8.4) in Mumbai, while Tribhovandas Bhimji Zaveri Ltd. increased as much as ...

Bloomberg In his air-conditioned office protected from the scorching heat and dust outside, S.M. Imran points at a white lined map pinned on his wall showing Power Cement Ltd.’s planned expansion at its plant in Pakistan’s arid southern Sindh province. Power Cement is aiming to triple capacity, riding a wave of Chinese-financed infrastructure projects across Pakistan valued at more than ...

Bloomberg Canada’s trade deficit was wider than forecast in April, and there was further disappointment in revised figures showing larger gaps in the prior two months. Imports exceeded exports by C$370 million ($274 million) in April, Statistics Canada said in Ottawa. The median forecast in a Bloomberg survey of economists was for shortfall of C$20 million. In addition to the ...

Bloomberg UK manufacturing activity maintained its momentum in May and confidence rose as strong domestic demand buoyed orders. IHS Markit’s Purchasing Managers Index was at 56.7 in May after reaching 57.3 the previous month, which was the highest in three years. The reading was better than economists had forecast and keeps the index comfortably above the 50 level dividing expansion ...

Bloomberg Saudi Arabia, Egypt, the United Arab Emirates and Bahrain severed their ties with Qatar on Monday, accusing it of supporting terrorism and opening up the worst rift in years among some of the most powerful states in the Arab world. Iran—long at odds with Saudi Arabia and a behind-the-scenes target of the move—immediately blamed US President Donald Trump for ...

ABU DHABI / Agencies The total value of Abu Dhabi’s trade in pearl, gemstones and precious metals amounted to AED4.7 billion during the Q1 of 2017 from AED3.3 billion during the corresponding period last year, a growth of 42.4 percent, according to figures released by Abu Dhabi Statistics. The growth is driven by entrepot, including the non- oil commodities coming ...

Abu Dhabi / Emirates Business Abu Dhabi National Exhibitions Company (ADNEC) has become the first company in the Middle East and Asia Pacific regions to go live with its Exhibitor Service Centre (ESC), an online platform for all exhibitors to order and pay for all ADNEC’s services for events. Launched as part of SMART ADNEC E-Services, the portal is accessible ...

Abu Dhabi / WAM The National Media Council (NMC), completed its preparations for the UAE Pavilion at Expo 2017 Astana, set to be held in Kazakhstan’s capital from June 10 to September 10, under the theme, ‘Future Energy’. Built, managed, and supervised by the NMC, the UAE Pavilion sheds light on the country’s experience in shaping the future of the ...

Dubai / WAM On the occasion of World Environment Day, Emirates is showcasing an environmentally friendly aircraft cleaning technique that has enabled the airline to save millions of litres of water every year. The ‘aircraft drywash’ technique, uses little or no water in cleaning the aircraft, which is in contrast to conventional methods which typically use thousands of litres of ...