International News

Bloomberg Tesla Inc won exemption from a 10 percent purchase tax on the vehicles it sells in China, scoring a significant break despite trade tensions between the country and the US. The exemption, which typically is reserved for domestic makers of electric vehicles, affects all Tesla models sold in China, the nation’s industry ministry said on its website. Tesla shares ...

Bloomberg Antin Infrastructure Partners is exploring a sale of Dutch fiber-optic network owner Eurofiber that could value the company at more than 1.5 billion euros ($1.7 billion), people with knowledge of the matter said. The Europe-focussed private equity firm has had preliminary contact with potential buyers, including infrastructure funds, to gauge their interest, the people said, asking not to be ...

Bloomberg Volkswagen AG will revise fuel economy labels on several gasoline-powered models and pay $96.5 million to drivers after an investigation discovered software that could optimise efficiency during government tests but not during real-world driving. A joint investigation between the US Environmental Protection Agency and the California Air Resources Board discovered the automaker had equipped roughly 1 million vehicles with ...

Bloomberg India’s path to economic recovery faces another obstacle, with Prime Minister Narendra Modi asking the state road builder to stop constructing highways after its debt ballooned almost seven-fold over the past five years. “National Highways Authority of India totally logjammed with unplanned and excessive expansion of roads,” the prime minister’s office wrote to NHAI in a letter. “NHAI mandated ...

Bloomberg South Korea’s exports extended their slump in August as an escalating feud with Japan adds to uncertainties for the economy already elevated amid the US-China trade war. Exports fell 13.6 percent in August from a year earlier, a ninth consecutive month of contraction, data from the trade ministry showed. That compared with economists’ consensus for a 12.5 percent drop. ...

Bloomberg Car sales at Maruti Suzuki India Ltd, the nation’s biggest car maker, dropped 33 percent to 106,413 units, the company said in a press statement on Sunday. Deliveries of its small cars fell about 72 percent to 10,123, while exports declined 10.8 percent to 9,352. Car sales dropped 34 percent in July, the biggest decline in sales in almost ...

Bloomberg The wireless carrier controlled by Indian billionaire Mukesh Ambani will probably keep drawing users away from rivals, reaching a market share of as much as 45 percent by fiscal year 2022, from 30 percent as of March, a unit of Fitch Group said. Reliance Jio Infocomm Ltd, which has been offering data tariffs that are as much as 30 ...

Bloomberg On a steamy summer morning, dozens of buses pull up outside a cluster of low-slung, blue buildings in the south Indian state of Andhra Pradesh. Women dressed in colourful salwar kameezes disembark, their dupatta body scarves billowing as they make their way past hibiscus bushes and posters proclaiming, “Our aim, no accident.” The night shift at Foxconn Technology Group’s ...

Bloomberg China rolled out a series of guidelines to encourage consumption, led by support for the flagging auto market. The measures include exploring ways to gradually loosen or remove car-purchase limits and support new-energy vehicle purchases in some areas, the State Council, or cabinet, said on its website. Other steps include incentives to build more gas stations in rural areas ...

Bloomberg Vietnam is intent on being the first Asean nation to provide a 5G network — without China’s tech powerhouse Huawei Technologies Inc. Viettel Group, Vietnam’s largest mobile carrier owned by the Defense Ministry, will deploy Ericsson AB’s equipment in Hanoi and Nokia Oyj’s technology in Ho Chi Minh City, said Viettel Chief Executive Officer Le Dang Dung. It will ...