TOKYO: The bitter trade war between China and the United States kept Asian factory activity mostly in decline in August, business surveys showed, strengthening the case for policymakers to unleash fresh stimulus to fend off recession risks. In a surprise development, China’s factory activity unexpectedly expanded in August as output
DUBAI/ABU DHABI: Abu Dhabi plans to issue US dollar-denominated bonds this year, three sources familiar with the matter said, its first since 2017, as the oil-rich emirate seeks to take advantage of low rates to offset the impact of falling oil prices. The government has updated its bond programme documentation
BRASILIA: Brazil’s influential finance minister has convinced President Jair Bolsonaro to consider the once-unthinkable step of privatising state-owned oil company Petrobras, but stiff political opposition could stifle any effort to sell the country’s corporate crown jewel. Petrobras, or Petroleo Brasileiro SA, was founded in 1953 by former president Getulio Vargas
LONDON: With banks’ bond trading desks increasingly going electronic, another of the last bastions of old-school banking — the business of helping companies and countries raise capital — may be about to succumb to the tide of technology. A clutch of start-ups want to disrupt the cosy world of syndicated
NANTES (France): Robots are often accused of stealing people’s jobs but night club dancers have not had to worry – until now. Two robots in high heels will make their debut next week at the SC-Club in Nantes, western France, performing pole dancing routines for a month to mark the
JAKARTA: Indonesian police have arrested dozens of people in the easternmost region of Papua following protests last week in which buildings were set ablaze, a police spokesman said yesterday. The area has been racked by civil unrest for two weeks over perceived racial and ethnic discrimination. Some protesters are also
SAN FRANCISCO: US retailers will be front and centre on Wall Street this week as the United States imposes new tariffs on $300 billion worth of Chinese imports, including clothing, televisions and jewellery. The new tariffs on Chinese goods will hit consumers more directly than duties already levied against $250
OXFORD (England): Far from the sunny, wide streets of Phoenix, where Waymo’s self-driving taxis ply their trade, a handful of European start-ups are developing driverless cars to navigate the clogged, chaotic, rain-swept roads of European cities. Start-ups such as Oxbotica, FiveAI and Wayve that are testing cars in Britain say
BRASILIA: As policymakers around the world scramble to prevent an economic slowdown from morphing into a global recession, Latin America’s largest countries may find the growthboosting arsenal at their disposal is worryingly scarce. In Brazil and Mexico, the region’s biggest economies, weak budgetary positions are a fiscal straightjacket for governments.
NEW DELHI: At least 12 people were killed and around 50 injured after a series of explosions at a chemical factory in the western Indian state of Maharashtra yesterday, hospital officials and police said. An official at Shirpur’s sub-district hospital in Dhule district said that 12 people had died in
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