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Bloomberg Jio Platforms Ltd., the digital services business controlled by billionaire Mukesh Ambani, completed the sale of 6% of its shares for about $4 billion. Saudi Arabia’s Public Investment Fund closed a deal for a 2.3 percent stake for 113.7 billion rupees ($1.5 billion), according to an exchange filing from Jio’s parent, Reliance Industries Ltd. Silver Lake purchased 2.1% of …

Bloomberg Oil rebounded as a new virus treatment showed promising results, but rising Covid-19 cases continued to weigh on the market. Oil gained 2.4% in New York, but is still down for the week. The market followed stocks higher after Gilead Sciences Inc. said its remdesivir treatment cut Covid-19 mortality risk by 62%. Still, the coronavirus pandemic is far from …

Bloomberg Oil traded near $41 a barrel in New York as coronavirus cases continued to surge globally, casting doubt over the market’s rebounding consumption. US crude traded lower, while Brent edged higher. Goldman Sachs recommended buying global benchmark futures over WTI as American inventories grow. US crude stockpiles rose last week, according to government data, but gasoline demand recovered to …

Bloomberg India is considering a plan to raise as much as 200 billion rupees ($2.7 billion) by selling stake in the world’s largest coal producer, and a bank to fund a stimulus program aimed at boosting the virus-battered economy, officials with knowledge of the matter said. The proposal involves a share sale depending on market sentiment, said the officials, who …

Bloomberg Discussions about how to fight climate change almost always conclude with a lament over the “lack of political will.” It’s as if the roadblock preventing these clean-tech visions and white-paper dreams from becoming market-driven reality is an irrational, unforeseen hiccup. That’s a comforting fallacy. The lack of political will is the whole point: Climate change is a problem caused …

Bloomberg Oil was anchored below $41 a barrel with an industry report signalling a surprise gain in US crude stockpiles, while concerns linger about the threat to demand from rising coronavirus infections. The American Petroleum Institute reported inventories rose by 2.05 million barrels last week, before government data on Wednesday. The virus is setting records across the US, with Texas’s …

Bloomberg Poor diets in developing countries are costing businesses as much as $850 billion a year in lost productivity, underlining the need for companies to play a bigger role in tackling a problem that’s being compounded by the coronavirus pandemic. Those are the findings of a study by Chatham House and Vivid Economics, the first to analyse the impact of …

Bloomberg Oil dropped to trade near $40 a barrel before US government data that’s forecast to show gasoline stockpiles increased, while rising virus infections raised concern stricter controls will be extended. US gasoline supplies expanded by one million barrels last week, according to a Bloomberg survey, while nationwide crude stockpiles are projected to have fallen for a second week. Official …

Bloomberg Hotter temperatures by 2100 could slash global GDP by more than 20%, according to new research, and the way the economic impact will be distributed threatens to turn climate change into an enormous driver of worldwide inequality. A new analysis of the relationship between heat and economic performance released this week by Oxford Economics, a global forecasting firm, identified …

ADEN / WAM Over a three-year period, the UAE, represented by the Emirates Red Crescent (ERC) launched 32 projects to provide drinking water in the governorates of Yemen’s Red Sea Coast, benefitting some 600,000 people. The projects are part of a series of humanitarian projects implemented by the UAE to help the Yemeni people related to food aid, shelter, social …