Masonry Layout

  Bloomberg The UK announced a windfall tax on “excess” profits of some electricity generators to help pay for the continuation of a freeze on household energy bills. Renewable, nuclear and biomass generators will see a 45% tax, while an existing levy on oil and gas firms will rise to 35% from 25% as the government seeks to claw back ...

Bloomberg Masayoshi Son is now personally on the hook for about $4.7 billion on side deals he set up at SoftBank Group Corp. to boost his compensation, after mounting losses in the company’s tech portfolio wiped out the value of his interest in the second Vision Fund. Over the years, the Japanese billionaire’s controversial personal stakes in SoftBank’s investments drew ...

  Bloomberg Indonesia’s largest internet company GoTo Group will cut 1,300 jobs as it seeks to curtail expenses and assuage investor concerns over mounting losses. The cuts amount to about 12% of the workforce, the company said in a statement Friday. The ride-hailing, e-commerce and fintech company will begin notifying affected employees right away. GoTo joins tech giants from Apple ...

  Bloomberg India plans to allow transfer and storing personal data in some countries overseas, in a reprieve for global companies including Alphabet Inc.’s Google, Amazon.com Inc. and Meta Platforms Inc.’s Facebook. The government will “notify such countries or territories outside India to which a data fiduciary may transfer personal data,” according to the draft Digital Personal Data Protection Bill ...

  Bloomberg The long-awaited policy rescue for Chinese developers finally landed this month to ease a severe liquidity crunch. The hurdle of collapsing home demand may prove just as steep a challenge. Assets linked to the nation’s fragile real-estate sector have rallied over the past two weeks after regulators introduced directives that addressed everything from companies’ liquidity problems to the ...

Bloomberg North Korea test-fired a suspected intercontinental ballistic missile with an estimated range long enough to carry a warhead to the American mainland, prompting the US to condemn what it said was an unlawful action. The North Korean missile was launched Friday, a day after Pyongyang warned the US to halt allied military drills in the region or face retribution. ...

Bloomberg Chinese President Xi Jinping and Japanese Prime Minister Fumio Kishida asserted their desire to improve relations and agreed to reopen lines of communication in the first meeting of the leaders of Asia’s two largest economies in three years. Xi expressed a willingness to work with Japan to maintain a stable relationship at their summit Thursday on the sidelines of ...

  ABU DHABI / WAM On behalf of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, will inaugurate the fourth ordinary session of the 17th legislative chapter of the Federal National Council (FNC) on Monday. President His Highness Sheikh ...

  Abu Dhabi / WAM The Ministry of Foreign Affairs and International Cooperation (MoFAIC) and the Abu Dhabi Investment Office (ADIO) signed a memorandum of understanding (MoU) to promote cooperation in attracting foreign investments and capacity building. Both entities agreed to strengthen the UAE’s profile as an ideal destination for trade and investment, principally by enhancing the efforts of UAE ...

ABU DHABI / WAM The Sheikh Zayed Festival will begin on Friday and welcome visitors from all over the world with a line-up of cultural entertaining events and attractions including breathtaking drone shows and fireworks displays in celebration of the first day. The festival will run until March 18, 2023 at Al Wathba in Abu Dhabi. The Higher Organising Committee ...