Not-for-profit industries are hardly associated by most investors with rising returns. Not so in China, whose private-school sector has become initial public offering gold in Hong Kong. Two of the city’s five biggest IPOs so far this year have been of Chinese nonprofit school operators: China Yuhua Education Corp., which made its trading debut this week, and Wisdom Education ...

  Bloomberg Aramco is the world’s largest oil company, but when it sells shares next year its foray into renewables is what may lure investors who would otherwise be forced to stay away. Saudi Arabian Oil Co., as it is formally called, is considering investments of as much as $5 billion in renewable energy, part of the kingdom’s effort to ...

  Reuters Business activity in Egypt shrank for the 17th consecutive month in February although the pace of decline slowed from a month before, a survey showed on Sunday. The Emirates NBD Egypt Purchasing Managers’ Index (PMI) for the non-oil private sector came in at 46.7 points, well below the 50 mark that separates growth from contraction but higher from ...

  Reuters Demand for gasoline in the United States, which accounts for a tenth of global oil consumption, is expected to peak next year as engines become more efficient, WoodMackenzie analysts said. Global demand for gasoline, which accounts for more than a quarter of the world’s oil consumption, is set to peak as early as 2021 even in the face ...

  Bloomberg When PBF Energy Inc. scooped up a refinery from Exxon Mobil Corp. on the Mississippi River in 2015, it wasted no time sprucing up the plant with an eye toward quickly resuming lucrative fuel exports. Within three months, PBF was ready to load its first tanker for shipment abroad. By late last year, the New Jersey-based company was ...

  Bloomberg In an industrial kitchen in a leafy, residential suburb of central Shanghai, a quiet culinary evolution is taking place. Beside shelves stacked with butter mounds the size of bread loaves and 11 pound (5 kilogram) cheese wheels, chefs are experimenting with exotic ingredients that their New Zealand supplier, Fonterra Cooperative Group Ltd., wants to become ubiquitous in China: ...

  Bloomberg India’s richest man is looking at ways of insulating his family’s holdings in Reliance Industries Ltd. from the government’s efforts to tax some long-term capital gains, according to people with knowledge of the matter. Mukesh Ambani’s plan to revamp his stake in the nation’s second most-valuable company, by transferring shares between entities affiliated with his family, is aimed ...

  Bloomberg Singaporean managers and senior staff can prepare for 5 percent pay increases at most this year as the labor market stabilizes. About 93 percent of companies in Singapore say they will keep or raise headcount this year, according to a survey by recruitment consultancy Michael Page of almost 450 businesses in the city state. Only 36 percent said ...

  Bloomberg China is considering dialing back or delaying proposed measures aimed at pushing automakers to produce more electric vehicles, after industry feedback that the targets are overly ambitious. Under draft rules released in September for public consultation, automakers will be required to obtain a new-energy vehicle credit score of 8 percent next year, derived from different weightings assigned to ...

  Bloomberg Standard Life Plc, Scotland’s largest insurer, agreed to acquire Aberdeen Asset Management Plc for about 3.8 billion pounds ($4.7 billion), a deal that would create the UK’s largest active manager. The stocks soared in London trading. Under the terms, Standard Life shareholders will own 66.7 percent of the combined group, according to a joint statement on Monday. Aberdeen’s ...