Bloomberg Japan Exchange Group Inc. will join Japan’s Nikkei 225, becoming the index’s latest entrant following the buyout of Sony Financial Holdings. The operator of the Tokyo and Osaka exchanges will join the blue-chip index on July 29, Nikkei Inc. announced on Wednesday. SMS Co. Ltd will replace Sony Financial on the Nikkei 500 index. The outcome comes after Sony …

Bloomberg Shares in Chinese biotechnology company Beigene Ltd. jumped the most in eight months after Hillhouse Capital invested about $1 billion in the largest equity financing ever by a biotech company. The Asian private equity firm’s stake in Beigene increased to about 12.7%, according to a regulatory filing confirming a report by Bloomberg News. Hillhouse acted as the anchor investor …

Bloomberg The Organisation of Petroleum Exporting Countries (Opec) expects demand for its crude oil to rebound sharply next year, surpassing levels seen before the coronavirus crisis, as rival producers struggle to revive output. The Opec forecasts the need for its crude will surge by 25% in 2021 to average 29.8 million barrels a day, higher than the level required in …

MORONI / WAM President Azali Assoumani of the Comoros received a delegation from the UAE, led by Saeed Mohammed Saeed Al Muqbali, UAE Ambassador to the Comoros, in the presence of Ahmed bin Mohammed Al Jarwan, President of the Global Council for Tolerance and Peace. During the meeting, both sides discussed ways of strengthening their mutual ties, in addition to …

Bloomberg Huawei Technologies Co. will be banned from the UK’s next generation mobile networks, in a sweeping crackdown on the Chinese company that will delay 5G roll-out and hit businesses with billions of pounds in extra costs. Under the blueprint agreed by Prime Minister Boris Johnson, operators will not be able to add any new Huawei components to their 5G …

Bloomberg Google is in advanced talks to buy a $4 billion stake in Indian billionaire Mukesh Ambani’s technology venture, seeking to join rival Facebook Inc. in the chase for growth in a promising internet market. The Mountain View, California-based titan has been discussing the investment in Reliance Industries Ltd.’s digital arm, Jio Platforms Ltd., the people said, asking not to …

Bloomberg South Korea revealed a 42.7 trillion won ($35 billion) plan to ramp up its commitment to renewable energy and environmentally friendly infrastructure, but came short of setting a time frame to phase out carbon emissions. President Moon Jae-in announced a framework on Tuesday to expand energy efficiency, boost low-carbon power sources and foster green industries amid an effort to …

Bloomberg The coronavirus pandemic will accelerate Eni SpA’s pivot away from conventional refineries to investing in greener facilities. “Instead of slowing down, we see Covid as a reason to accelerate the transition to low-carbon energy,” Chief Executive Officer Claudio Descalzi said in an interview with Bloomberg. In February, Eni set tougher climate goals, in which the Italian energy giant pledged …

Bloomberg The Economic Transformation Committee of South Africa’s ruling African National Congress (ANC) suggested that pension funds take over some of the assets of the indebted state power company. The proposal to transfer parts of Eskom Holdings SOC into non-state hands was made in a discussion document, which considered responses to the coronavirus-induced economic slump. The ANC’s labour union allies …

Bloomberg Swatch Group AG cut 2,400 jobs, a record cull, and trimmed its store network as the Swiss watchmaker became unprofitable for the first time. The maker of Omega and Longines timepieces said on Tuesday it accelerated plans to shut stores permanently in Hong Kong as well as shops that sell its colorful namesake brand and Calvin Klein timepieces. Sales …