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Dubai / Emirates Business Reinforcing its position as the global market leader for the air transport of temperature sensitive pharmaceuticals, Emirates SkyCargo has significantly boosted its worldwide pharma handling capabilities and infrastructure. New dedicated pharma facility at Chicago Emirates SkyCargo has commenced handling pharmaceutical cargo at a new purpose-built facility in Chicago. The facility, dedicated solely for pharmaceutical shipments, is ...

Bloomberg US crude explorers reduced drilling to a 15-month low as oil dipped into bear-market territory. Working American oil rigs fell by 11 this week to 789, according to data released by oilfield-services provider Baker Hughes. More than half the decline happened in the Permian Basin, the biggest source of American crude. Crude futures traded in New York fell into ...

Bloomberg China’s Trina Solar Ltd., one of largest panel manufacturers, says it’s well insulated from the growing trade dispute with the US. The reason: the last trade dispute with the US. When the US imposed anti-dumping penalties on solar panels imported from China under President Barack Obama, Trina built factories in Thailand and Vietnam to serve American customers, said Steven ...

Bloomberg Airbnb Inc says it’s back in business in Japan, a year after stricter home-sharing regulations forced it to freeze a major portion of its listings in the country. There are 50,000 listings available in the country, with another 23,000 rooms in hotels and traditional inns known as ryokan, Airbnb said in a statement. That’s compares with 60,000 total in ...

Bloomberg China plans to create a new system to reduce threats to national security related to technology, according to the official Xinhua News Agency, as trade tensions between the world’s two largest economies escalate. The National Development and Reform Commission has been tasked with setting up the list system which aims to “more effectively forestall and defuse national security risks,” ...

Bloomberg Carlos Ghosn’s lawyers said they’re surprised to hear that the board of Renault SA started proceedings against their client based on an audit report. Ghosn hasn’t had a chance to respond to any of the questions raised by this report, Jean-Yves Le Borgne and Francois Zimeray, the lawyers for the former boss of Renault, said in a statement. “Shockingly, ...

Bloomberg Consumer confidence in India dropped in May, as people fretted about jobs and slowing growth in Asia’s third-largest economy. The current situation index fell to 97.3 from 104.6 in March, according to the Reserve Bank of India’s consumer confidence survey, where 100 is the dividing line between pessimism and optimism. The future expectations gauge fell to 128.4 in May ...

Bloomberg South Korea said its economic growth faces prolonged downside risks as uncertainty surrounding external conditions grow more than expected. Yoon Jong-won, the presidential secretary for economic affairs, said the downward period is becoming more prolonged, reversing comments he made in May that growth was expected to improve “significantly” in the second quarter. Yoon said the uncertainties worsened more than ...

Bloomberg President Rodrigo Duterte has ordered the arrest of those involved in a dialysis treatment scam that defrauded Philippine Health Insurance Corp, and plans a revamp of the state-run insurer for losing more than $2.89 billion from fictitious claims and abuse. “I will really go after this” and “I am ordering the National Bureau of Investigation” to take over, invite ...

Bloomberg Blackstone Group LP plans to pool 6 billion euros ($6.8 billion) of its smaller European warehouse investments in a new company that will ultimately be publicly listed or sold. The private-equity giant is in the process of hiring an executive to run the company, which will manage its holdings of logistics properties close to towns and cities, according to ...