Bloomberg India’s preparing to tender 10 gigawatts of wind power by 2019 in auctions intended to help meet Prime Minister Narendra Modi’s ambitious clean-energy targets. The first 1-gigawatt tender is planned for October, Varsha Joshi said in an interview with Bloomberg News. She’s joint secretary at India’s Ministry of New and Renewable Power, the agency tasked with realizing Modi’s ...

  Bloomberg The market for liquefied natural gas is about to attract more players and more trading as new supply from the U.S. and Australia strengthens buyers’ bargaining power. Historically, LNG has been sold on long-term contracts that guaranteed buyers supply and helped producers finance liquefaction plants at a time when less of the product was shipped. Now, a gas ...

  Reuters Iran, holder of the world’s biggest natural gas reserves, says it will start exports to Iraq in the next month, more than a year later than it originally planned. Shipments will start at 7 million cubic meters a day to supply a power plant in Baghdad, Hamid Reza Araghi, director of the National Iranian Gas Co., said in ...

  AFP China launched the world’s first quantum satellite on Tuesday, state media reported, in an effort to harness the power of particle physics to build an “unhackable” system of encrypted communications. The launch took place at 1:40 am in the southwestern Gobi Desert, the official Xinhua news service said, and comes as the US, Japan and others also seek ...

  Bloomberg Chinese authorities are planning not to impose an aggregate quota on trading via the Shenzhen-Hong Kong stock exchange link, according to two people familiar with the matter. Daily trading will still be subject to a cap, the people said. Officials are also considering removing the overall limit for equity trades through Hong Kong’s existing link with Shanghai, one ...

  Bloomberg Indonesia’s tax amnesty could boost industrywide car sales in the country by a fifth as people spend their newly declared wealth on big-ticket items, according to the local unit of Honda Motor Co. “The car ownership ratio in Indonesia is relatively low and there’s enough room for producers to sell more,” Jonfis Fandy, head of sales and marketing ...

  Bloomberg Indonesia will cap Wednesday’s Independence Day celebrations by scuttling as many as 71 impounded foreign vessels —mostly Vietnamese but also a handful of Chinese —to signal its determination to protect its sovereignty over lucrative fishing grounds in the South China Sea. The destruction of the boats comes amid simmering regional tensions over territorial disputes in the water. Former ...

  Bloomberg Temasek Holdings Pte bought shares in ICICI Bank Ltd., India’s largest private-sector lender by assets, as the nation’s central bank pushes lenders to clean up bad debts that have weighed on earnings. The Singapore state-owned investor bought 2.55 million American depositary receipts of ICICI in the second quarter, worth $18 million at the end of June, according to ...

  STOCKHOLM / Bloomberg Svenska Handelsbanken AB removed its chief executive officer after less than 18 months and said the top role at the bank has become so complex that a traditional management profile was no longer adequate. Frank Vang-Jensen, a 48-year-old who was only appointed to the role of CEO in March last year, is being replaced by Anders ...

  Bloomberg China’s central bank urged investors not to focus too much on short-term concerns and said the diverging pace of credit expansion doesn’t mean monetary policy is losing steam. July credit growth slowing to a two-year low was a distortion and the reports for August and September will show it rebounding, the People’s Bank of China (PBC) said in ...