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  Bloomberg South Korean house prices recorded the biggest decline in nine years as the central bank’s 16-month tightening cycle weighs on the property market, adding to credit concerns for policy makers. Nationwide home prices dropped 0.32% in November from a year earlier, while Seoul slid 0.12%, according to data from Kookmin Bank. South Korean surveyors tend to count the ...

Bloomberg Apple Inc partner Foxconn is offering bonuses of as much as $1,800 to existing workers at its Zhengzhou facility, hoping to sustain the staff levels it needs to run the world’s largest iPhone factory. Foxconn, also known as Hon Hai Precision Industry Co, will top up wages by as much as 13,000 yuan per month in December and January ...

Bloomberg Prime Minister Justin Trudeau’s government is boosting military spending and expanding Canadian trade ties in the Indo-Pacific region as part of a “generational” policy shift aimed at countering China’s influence. Foreign Minister Melanie Joly released her nation’s Indo-Pacific Strategy, including nearly $1.7 billion (C$2.3 billion) in spending. That money is being used for more navy patrols in the region, ...

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the Dubai Countryside and Rural Areas Development Master Plan, spanning an area of 2,216 square kilometres. The plan seeks to preserve the nature of areas including Lehbab, Margham, Al Marmoom, Al Lisaili, Al Faqaa ...

  Abu Dhabi / WAM The Environment Agency – Abu Dhabi (EAD) is making significant progress in its commitment to declare Abu Dhabi free of single-use plastic products, achieving the objectives of the Single-Use Plastic Policy in the emirate. The agency reports a significant reduction in the consumption of single-use plastic bags, with people switching to alternative, more sustainable reusable ...

Abu Dhabi / WAM The Abu Dhabi Judicial Department (ADJD) held a coordination meeting with the Department of Culture and Tourism (DCT) to discuss ways to support and develop the strategic partnership in common areas, as directed by HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of the Presidential Court and Chairman of the Judicial Department of ...

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) has commissioned a new 132/11kV substations in Al Awir First with a transmission capacity of 150 MVA, at a total cost of AED180 million. Dewa also inaugurated a new transmission 400/132kV substation in Jebel Ali First and overhead cables with a conversion transmission of 2,000 MVA, at total cost of ...

  Bloomberg Huawei Technologies Co and ZTE Corp were banned from selling electronics in the US by regulators who say they pose a security risk, continuing a years-long effort to limit the reach of Chinese telecommunications companies into US networks. The Federal Communications Commission (FCC), in an order, also named connected-camera providers Hangzhou Hikvision Digital Technology Co and Dahua Technology ...

  Bloomberg Oyo Hotels, the once high-flying Indian startup, reported a narrower quarterly loss after curbing spending to cope with a slow recovery in travel following the pandemic. The loss shrank to 3.33 billion rupees ($40.8 million) in the three months through September from 4.14 billion rupees in the preceding quarter, the company said in a statement. Revenue was little ...

Bloomberg Bangladesh is on course to become a $1 trillion economy by 2040, driven by consumer optimism, innovation in emerging economic sectors and a young engaged workforce, according to Boston Consulting Group (BCG). With average annual growth of 6.4% between 2016 and 2021, the South Asian nation has outpaced peers such as India, Indonesia, Vietnam, the Philippines and Thailand, BCG ...