International News

Bloomberg Greece and China in Athens signed 16 agreements in sectors including energy, agriculture, tourism and ports. Chinese President Xi Jinping is on an official visit to Greece for follow-up meetings with Greek officials, after Premier Kyriakos Mitsotakis visited China last week. At that time, the leaders said they wanted to expand relations between two of the world’s oldest civilisations. ...

Bloomberg ArcelorMittal South Africa Ltd will mothball its Saldanha Works plant to curb losses, as raw-material costs and regulated prices mean the operation can no longer effectively compete in steel export markets. Saldanha, on South Africa’s west coast, will be placed on care and maintenance in the first quarter of 2020 and its domestic customers will be served from another ...

Bloomberg Alibaba Group Holding Ltd is moving ahead with plans to raise as much as $15 billion in a Hong Kong share sale, people with knowledge of the matter said, a major win for a city rocked by months of civil unrest. Asia’s largest company by market value is now preparing for a listing hearing as mandated by companies that ...

Bloomberg India will import 100,000 tons of onions, Food and Consumer Affairs Minister Ram Vilas Paswan said in a message on Twitter, in a bid to curb rising prices. State-owned trading firm MMTC Ltd will import the onions so that they are available for distribution between November 15 and December 15, the minister said. State co-operative National Agricultural Cooperative Marketing ...

Bloomberg Work is set to begin on a $2.7 billion renewable energy project in Japan’s Fukushima, the site of one of the world’s worst nuclear disasters, the Nikkei newspaper said. The plan is for the wind and solar project to generate and transmit up to 600 megawatts of power, which will be supplied to Tokyo and the surrounding area, according ...

Bloomberg India’s electricity demand declined for the third straight month, another indication of an economic slowdown that seems to be deepening. Electricity demand from distribution utilities declined 13.2% in October from a year earlier, data from the Central Electricity Authority showed. The slump began in August when the power requirement dropped for the first time in more than two years. ...

Bloomberg Honda Motor Co cut its annual profit forecast as sluggish global vehicle demand and supply issues weigh on the Japanese carmaker, which unveiled a 100 billion yen ($915 million) share buyback. Operating profit for the fiscal year ending March will be 690 billion yen instead of 770 billion yen, the company said in a statement. Analysts are predicting a ...

Bloomberg Toshiba Corp is set to post a seven-fold increase from a year earlier in April-September operating profit, the Nikkei reported without saying where it got the information. Despite the 50 billion yen ($458 million) in operating profit in the six-month period, the company will report a net loss because of the weak performance of a chip-making subsidiary and deficits ...

Bloomberg #DemonetisationDisaster was among the top trends worldwide on Twitter on November 8, the third anniversary of Indian Prime Minister Narendra Modi’s ban on high-value currency notes that has since been termed a “total failure” and a “draconian” act. The outcry comes on the day Moody’s Investors Service cut India’s credit rating outlook to negative, citing a litany of problems ...

Bloomberg The US Justice Department’s (DOJ) top antitrust enforcer said data collection practices of technology companies can raise competition concerns, the latest warning directed at the industry amid a broad investigation of its biggest companies. Makan Delrahim, the head of the antitrust division, said in a speech at Harvard Law School that the department is paying close attention to the ...