NEW DELHI / WAM The Indian government has identified “sunrise sectors” for investors in the Gulf with the thrust on joint ventures in infrastructure and manufacturing, integrating into supply chains and tapping sovereign wealth funds. This was stated by the Minister of State for External Affairs, V Muraleedharan, in his keynote address to a panel discussion here on “India and …

Bloomberg Apple Inc has started building its own cellular modem for future devices, a move that would replace components from Qualcomm Inc, Apple’s top chip executive told staff. Johny Srouji, Apple’s senior vice president of hardware technologies, made the disclosure in a town hall meeting with Apple employees, according to people familiar with the comments. Qualcomm shares dropped 4.4% in …

Bloomberg Chinese electric-car maker Nio Inc joined the rush for fundraising among new-energy vehicle manufacturers, capitalising on a 11-fold increase in its share price this year to boost its coffers. The manufacturer is selling 60 million American depositary shares in a follow-on offering, and has the option to sell another nine million, according to a statement. Based on its latest …

Bloomberg Singapore is set to host the world’s first electric-powered air taxi service by the end of 2023, according to Volocopter GmbH, which is developing the vertical-takeoff craft. The German manufacturer is committed to starting operations within three years once it completes flight trials, evaluation and certification in collaboration with the city-state, it said in a statement. Tickets for a …

Bloomberg Oracle Corp, a Silicon Valley stalwart, has moved its headquarters to Texas, becoming the latest technology company to leave its home state in the face of California’s higher taxes, steeper cost of living and a broader shift to remote work. The move to Austin from Redwood City “means that many of our employees can choose their office location as …

Bloomberg Live streaming by Chinese influencers like Wei Ya and “lipstick king” Li Jiaqi, peddling everything from skincare products to toilet paper, lured millions to Alibaba Group Holding Ltd’s biggest binge-shopping day last month, posting a record $75 billion in sales. In Europe, the event barely made a ripple. While Alibaba’s Tmall platform in China logged 583,000 orders in one …

Bloomberg General Electric Co poured $4 billion into repairing its balance sheet, furthering steps to whittle down a pension liability that has been a thorn in Chief Executive Officer Larry Culp’s turnaround efforts. The manufacturer prefunded about $2.5 billion in pension requirements for the next three years and repaid $1.5 billion of an intracompany loan to GE Capital, according to …

Bloomberg Boeing Co lost almost half of a 737 Max aircraft order from Bain Capital’s Virgin Australia under a new agreement that also postpones the initial jet delivery by two years to mid-2023. Virgin Australia will take 25 of Boeing’s Max 10 jets to serve as the “backbone” of future domestic and short-haul international flights, Jayne Hrdlicka, the budget carrier’s …

Bloomberg South Africa faces a fresh battle with labour groups in its effort to revive the bankrupt state airline, offering three months of wages to employees who haven’t been paid since March. The government’s Department of Public Enterprises (DPE) and the National Union of Metalworkers of South Africa were scheduled to discuss the matter, according to a spokeswoman for the …

Bloomberg Americans are expected to continue with their travel plans for the Christmas holiday with more than a million air passengers per day anticipated for several days during the holiday period, David Pekoske, administrator of the Transportation Security Administration (TSA), said during an aviation event. Americans plan to travel despite Center for Disease Control advice to stay at home and …