Bloomberg The US effort to put Iran in a financial vice was working. European banks were paying big fines and closing off its money flows, and severe sanctions on the country’s banking and energy sectors were forcing it to the table on a nuclear deal. But as US enforcement officials would soon discover, Iran had found a new channel for ...

Bloomberg The natural gas industry may be one of its own worst enemies. Most energy executives underestimate how much they can cut emissions as they extract and transport natural gas, according to a survey by the Energy Institute. Producers can reduce greenhouse gas flows by 75 percent simply by improving practices in the supply chain of the fuel, which consists ...

MANILA / Reuters Australia-listed Energy World Corp expects to start up a gas-fired power plant in the Philippines by end-2018, its chief executive said, fed by the country’s first liquefied natural gas (LNG) imports. The Philippines does not currently import LNG, but its domestic natural gas reserves are depleting, and the country has been developing plans for import terminals for ...

TUNIS / Reuters Libya’s National Oil Corporation (NOC) is suffering ongoing delays in receiving budget money from the government and this could reduce production, the head of the state company said. Mustafa Sanalla made the comments after meeting the head of Al Jouf Oil Technology Company, who said the NOC subsidiary was suffering from financial problems that had delayed projects ...

Bloomberg Uber Technologies Inc. isn’t ready to give up the world. Dara Khosrowshahi, in his first trip to Asia since becoming chief executive officer, made it clear that the ride-hailing company isn’t about to scale back its business to just countries where it already has a strong market position. During his first stop in Japan, he said he’s willing to ...

Bloomberg ArcelorMittal and Russia’s state-controlled VTB Group have hit a fresh snag in their pursuit of Essar Steel India Ltd., an insolvent producer that could fetch at least $6 billion. Advisers evaluating the offers for Essar Steel are recommending that all the bids be disqualified, according to people with knowledge of the matter. A committee of Essar Steel lenders will ...

Bloomberg Toyota Motor Corp. is readying electric motors that include as much as 50 percent less in rare earths amid concern of a supply crunch as automakers race to expand their electric-vehicle lineups. Asia’s biggest carmaker has developed a magnet for the motors that as much as halves the use of a rare earth called neodymium and eliminates the use ...

Bloomberg India’s software services industry expects growth of as much as 9 percent in fiscal 2019 as Tata Consultancy Services Ltd. and its peers strengthen automation and adapt to the rapid onset of digital technologies. Sales will rise 7 to 9 percent in constant currency terms in the fiscal year ending in March 2019, the National Association of Software and ...

Bloomberg Singapore’s tax increase on home purchases exceeding S$1 million ($758,960) is aimed at making duties more equitable rather than imposing an additional property curb, said S. Iswaran, minister of trade and industry. Stamp duty on the portion of a property’s price above S$1 million will be raised starting from Tuesday to 4 percent from 3 percent, the government said ...

Bloomberg Indonesia is foregoing billions of dollars on offer from American companies eager to invest in Southeast Asia’s biggest economy, US Ambassador to Indonesia Joseph Donovan said. As the US tries to arrest a deteriorating trade balance with Indonesia, which in 2017 found itself in President Donald Trump’s cross-hairs, Donovan has also rejected complaints of increasing American protectionism. Indonesia had ...