New Delhi / Bloomberg UltraTech Cement Ltd, India’s largest cement producer, said it will buy units of Jaiprakash Associates Ltd., including equity and debt, for 165 billion rupees (US$2.4 billion). The deal will increase UltraTech’s capacity 33 percent to 90.7 million tons and give it access to newer markets in six Indian states, including Uttar Pradesh and Madhya Pradesh, the ...

Sydney / Bloomberg Gold output in Australia, the world’s second-biggest producer, reached the highest in 12 years in 2015 as rising prices see miners revive mothballed operations. Full-year production was 285 metric tons last year, almost two tons more than in 2014 and the highest annual total since 2003, mining consultancy Surbiton Associates Ltd. said on Sunday in an e-mailed ...

NEW YORK / Bloomberg Billionaire investor Warren Buffett, long an optimist about the nation where he made his fortune, rejected the economic pessimism dominating the 2016 U.S. presidential campaign and forcefully made the case for a bright future. “As a result of this negative drumbeat, many Americans now believe that their children will not live as well as they themselves ...

Santo Domingo /Bloomberg The Dominican Republic’s economy is likely to expand by about 6 percent this year as construction and tourism continue to buoy one of the fastest-growing countries in the region, President Danilo Medina said in his annual address to Congress. Medina, who’s up for re-election, said the country’s $64 billion economy will again outpace that of Latin America, ...

Bloomberg Senator Ted Cruz and his wife, Heidi, paid $1.5 million in federal income taxes from 2011 through 2014 on adjusted gross income totaling more than $5 million, according to partial tax returns released in e-mails to reporters by the Republican presidential candidate’s campaign. The couple’s average federal tax rate over the four-year period was 29.9 percent. But because the ...

Buenos Aires / Bloomberg Argentina’s government agreed to raise state teachers’ salaries by an average of 32 percent, paving the way for broader wage negotiations across the country this year. State teachers will see their basic monthly salaries rise to 7,800 pesos ($505) from 6,060 pesos effective immediately, with a further increase to 8,500 pesos starting in July, according to ...

Caracas / AFP At a popular east Caracas bakery, customers can buy Spanish olive oil, Italian tomato sauce and even American chocolates. But bread? Forget it. Cardboard signs on the door warning of “No bread” have become increasingly common at Venezuelan bakeries. Venezuela gets 96 percent of its foreign currency from oil exports, and as crude prices have plunged, so ...

The fight between Apple and the U.S. government comes down to a technical enigma wrapped in layers of emotional debate. On the surface, people seem to be drawn to opposing sides depending on feelings: fear of terrorism, or suspicion of government, distrust of corporations. But the crux of the disagreement comes down to a technical question, not a gut feeling: ...

Kazakhstan’s first McDonald’s will open March 8 in Astana. The world’s largest fast food chain has been operating in Russia since 1990 and last year opened its 500th store in that country (there are now 545)–while also, for the first time in Russia, permanently closing a store. Moving into the Kazakh market, per Reuters’ report, took more than a decade ...

China is facing an uphill battle on two fronts. At home, government prestige is waning as the economy falters with Chinese people sending their money abroad as the stock market stumbles amid a slowing economy and a deteriorating currency. And as the bad economic news continues to drip out of China so do the dispatches about its military maneuvers in ...