Beijing, China - Factory activity in China shrank for a second straight month in June, data showed Sunday, underscoring the country's shaky economic recovery ahead of a key political gathering expected to focus on deepening reform. The manufacturing purchasing managers' index (PMI) -- a key measure of factory output -- registered...

It had dedicated nearly 2,000 workers for the program.

China last year recorded one of its worst annual growth rates since 1990, dampening hopes for a rapid economic recovery following the end of draconian Covid restrictions in late 2022. In January, consumer prices fell at their quickest rate in more than 14 years, piling pressure on the government to...

New Delhi, UAE--India's stock market has edged out Hong Kong to become the world's fourth-largest, a milestone that underscores growing global investor optimism about New Delhi's economic prospects, Bloomberg said Tuesday. The total value of shares listed on Indian exchanges hit $4.3 trillion on Monday, slightly higher than Hong Kong's...

Riyadh, Saudi Arabia - Turkish-based Tosyali Holding is making nearly $5 billion investment in a new steel plant in Saudi Arabia, Bloomberg reported. The investment is part of Tosyali Holding's broader expansion strategy, which encompasses ventures in Algeria, Angola, Senegal, and Spain. “Our aim is to make the best quality...

The Kingdom, leveraging its significant copper reserves across the nation, seeks to address the global shortage, particularly crucial amid the transition towards clean energy.

Dubai, UAE - Chinese electric vehicle brand Zeekr is set to make its debut in the Middle East as it enters the Israeli market in the fourth quarter of this year, Bloomberg reported.  Zeekr, a subsidiary of Zhejiang Geely Holding Group, has partnered with Israeli distributor Union Group to establish...

Mumbai, India--Gautam Adani's vast Indian business empire lost billions of dollars more in value on Monday after its rejection of claims of widespread fraud failed to reassure investors. The slump was sparked by a report by US investment group Hindenburg Research that last week alleged "brazen stock manipulation and accounting...

It refuted reported plan to acquire Wall Street Journal or the Washington Post.

Upon the approval of the European Commission, the Berlin government this week completed a 34.5 billion euro ($36.55 billion) bailout for Uniper.

The self-made billionaire has seen his net worth more than double to $137.4 billion in the last year, rising 20 spots on the index to now rank just behind Elon Musk and Jeff Bezos, Bloomberg News reported. Adani, 60, made his fortune in ports and commodities trading and now operates...

The invasion of Ukraine was a major wake-up call globally for both governments and private firms. Small-to-medium businesses need to be cautious too as the number of cyberattacks against them has increased by 150 percent in past two years. It's time to bolster the cyber defenses, he adds.

The drop followed reports that the Ant Group was being probed.

Sales rose by 15.3% from last year to $36.9 bn.

RIYADH: Saudi Arabia’s biggest sovereign wealth fund, Public Investment Fund, has stakes of more than 5 percent in two Japan-listed gaming companies. Bloomberg said the combined holdings are worth around $1.2 billion in Capcom Co., the maker of the Street Fighter and Resident Evil franchises, and online games provider Nexon...

Bloomberg's Auction System is a part of Bloomberg's enterprise solution for central banks and government financial agencies.

UAE has risen to the top spot on Bloomberg's Covid Resilience Ranking, dethroning Europe that has been dominating the top rungs of the Ranking for months. Bloomberg said the UAE has been one of the most consistent performers since the Ranking’s inception a year ago. Daily cases in the country...