International News

Bloomberg Crystallex International Corp. said it was awarded $1.4 billion from a World Bank arbitration court over Venezuela’s nationalization of an untapped deposit that the Canadian miner has said holds millions of ounces of gold. The award, issued by the International Centre for Settlement of Investment Disputes, upheld Crystallex’s claims that Venezuela breached an investment treaty “by failing to accord ...

Bloomberg Mexico may raise as much as $4 billion for clean energy projects this summer as the government seeks to continue a tender process that produced its first results last week. The next auction due in August will be 50 percent bigger than the one that just concluded with expectations for $2.6 billion of investment in the renewables, said Cesar ...

Bloomberg President Mauricio Macri of Argentina has become a market favourite by undoing many of the heavy-handed policies of his predecessor. But now some bond analysts say that he’s taking a page out of her playbook. Last week, the government said it will change the way it measures the economy, sparking concern that holders of warrants tied to Argentina’s growth ...

Bloomberg Victor Dodig’s overhaul of Canadian Imperial Bank of Commerce is paying off. Total returns and profitability at the former underdog of Canadian banking are top among its peers and its dividend yield is the fattest of the nation’s five largest lenders. With the bank’s domestic operations sharpened, the chief executive officer is on the hunt for a US acquisition ...

BEIJING / AP China has banned most imports of North Korean coal and iron ore, the country’s main exports, in a significant increase in pressure on the North under UN sanctions against its nuclear and missile tests. China buys an estimated two-thirds of impoverished North Korea’s exports, making Beijing’s cooperation essential for trade penalties approved by the UN Security Council ...

Tokyo / DPA Japan’s Economy, Trade and Industry Ministry is set to strengthen its efforts to develop its own technology for genome editing, by allocating 8.6 billion yen (US$77 million) over five years from fiscal 2016 to 2020. The technology enables cut-and-paste work in gene modifications as desired. The government intends to efficiently mass-produce medicinal products or fragrance elements by ...

KUALA LUMPUR / AP The chief executive of Malaysia Airlines said on Wednesday that the carrier recorded a profit in February, its first positive monthly result in years, and is on track to return to the black by 2018. In an interview, CEO Christoph Mueller described the airline as a “ship that has many leaks,” but said the monthly profit ...

Sydney / AFP Australia’s largest resources project will stop production for up to 60 days owing to mechanical issues, US energy giant Chevron said on Wednesday, in the latest setback to hit the US$54 billion plant. Chevron’s Gorgon liquefied natural gas (LNG) project off Australia’s northwest coast — one of the world’s biggest — started production in early March and ...

MUMBAI / Reuters Samsung Electronics Co Ltd is regaining smartphone share in India with a revamped line-up packed with special features including a safety mode for motorcyclists, as rival Apple Inc readies a renewed push into the world’s fastest-growing market. Long the leader in price-conscious India, the South Korean giant had been losing ground to local rivals such as Micromax ...

Bloomberg Poland’s central bank left its benchmark interest rate unchanged for a 13th month as its revamped policy council defies expectations for deeper monetary easing in the face of the longest bout of deflation in 60 years. The 10-member panel on Wednesday left the seven-day reference rate at a record-low 1.5 percent, matching the predictions of all 34 economists surveyed ...