KUWAIT / Reuters Kuwait’s Public Authority for Industry (PAI) plans to set up a multi-purpose industrial city in the Gulf Arab state with total expected investments of $6.6 billion, an official said on Wednesday. PAI Acting General Manager Abdulkareem Taqi told Reuters that the government would put in place the infrastructure for the city at an estimated cost of $600 …

Bloomberg Nigerian energy conglomerate Sahara Group Ltd. said it revived plans for a share-sale as it looks to increase oil production four-fold to 100,000 barrels per day. Lagos-based Sahara mulled an initial public offering in the Nigerian commercial capital and London in 2015, before falling crude prices forced it to backtrack. “The IPO is now back on the table,” Tonye …

Bloomberg An avalanche of apparently mistaken orders at the close knocked Taiwan’s third-biggest stock down almost 10 percent in minutes, draining $3 billion from its market value. Formosa Petrochemical Corp lurched from around 116 Taiwan dollars to 106 in a cascade of orders that culminated in a 15.2 million-share closing auction — a trade valued at more than $55 million. …

Bloomberg Most Asian central banks will stand pat for now, even with the Federal Reserve poised to raise borrowing costs this week. While previous tightening cycles in the US prompted many Asian nations to move in lockstep, things are different this time. Subdued inflation and healthy foreign reserves reduce the need to move quickly and the risk of a trade …

Bloomberg China will now permit foreign companies to access its $27 trillion payments market, which will further open up the world’s second-largest economy. Foreign players can start applying for payment licenses and will be treated the same as local firms, the People’s Bank of China said in a statement on Wednesday. Applicants must set up local units, establish payment infrastructure …

Bloomberg Hoist Finance AB of Sweden is gearing up to buy non-performing credit portfolios from Greek banks as they prepare to offload loans that soured during the country’s debt crisis. “There’s been a lot of talk about Greece for a long time, but now it’s actually happening,” Klaus-Anders Nysteen, the chief executive officer of Hoist, said in an interview in …

Bloomberg The European Central Bank is on a slow walk towards concluding four years of quantitative easing, and that challenge might look easy compared with what comes next. While policy makers are comfortable with market expectations for bond purchases to end this year, the bigger specter of 2019 looms large. That’s when the Governing Council might dare to actually withdraw …

Bloomberg Nordea Bank AB may be cutting thousands of jobs to go digital, but in its wealth management business, it’s hiring. The bank, which is moving its headquarters to Finland from Sweden for regulatory reasons, has hired about 75 people over the past year to help run its $400 billion wealth unit, according to its head, Snorre Storset. “Wealth management …

Bloomberg Airbus SE is considering building a freighter version of its slow-selling A330neo wide-body, spurred by requests from potential customers Amazon.com Inc and United Parcel Service (UPS) Inc., according to people familiar with the matter. The interest from Amazon and UPS could rekindle a competition between Airbus and Boeing Co. as the global air-cargo market rebounds from a decade-long slump. …

Bloomberg Amazon.com Inc. has looked at the possibility of expanding its retail footprint by acquiring some locations from bankrupt Toys ‘R’ Us Inc., according to people with knowledge of the situation. The online giant isn’t interested in maintaining the Toys ‘R’ Us brand, but has considered using the soon-to-be-vacant spaces for its own purposes, said the people, who asked not …