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Bloomberg Bain Capital and Baring Private Equity Asia are among firms considering bids to acquire an outsourcing business from their private equity rival Carlyle Group Inc, according to people familiar with the matter. A sale of VXI Global Solutions is entering the final stages and a buyer could emerge as early as in the coming weeks, the people said, asking ...

Bloomberg Ningbo Tuopu Group Co said it was the supplier of parts that prompted recent recalls of Tesla Inc Model Y cars in China and the US. Some front- and rear-suspension knuckles weren’t completely immersed in a liquid during the heating process, the Chinese auto-parts maker said in an exchange filing . The potential of any knuckle being defective might ...

Bloomberg SoftBank Group Corp extended a six-day slump with another drop of as much as 9% in Tokyo as key companies in its portfolio delivered further bad news. Chinese ride-hailing giant Didi Global Inc began preparations to withdraw from US stock exchanges, shortly after the US Federal Trade Commission sued to block SoftBank’s sale of Arm Ltd to Nvidia Corp ...

Bloomberg China is starting the second round of projects in its massive desert renewable build-out just months after President Xi Jinping unveiled the scheme. The National Energy Administration (NEA) has asked provinces to submit a list of the second batch of projects by December 15, according to a report from China Wind Power News, citing an NEA notice. Each individual ...

Bloomberg Trust firms that have issued at least $5 billion in high-yield products linked to China Evergrande Group are bracing for a cascade of losses after the cash-strapped developer said it may no longer be able to meet its financial obligations. At least three firms, including Citic Trust Co, China Foreign Economy and Trade Trust Co and National Trust, notified ...

Abu Dhabi / WAM Borouge, a leading petrochemical company providing innovative, value-creating polyolefin solutions, announced on Sunday the award of the Engineering, Procurement and Construction (EPC) contracts for the world-scale fourth expansion of its manufacturing complex in Ruwais, Abu Dhabi (Borouge 4). Adnoc and Borealis AG signed a strategic partnership that confirms a $6.2 billion (AED22 billion) investment agreement to ...

ABU DHABI / WAM Abu Dhabi National Insurance Company (Adnic), one of the leading regional multi-line insurance providers for corporates and individuals, has extended its partnership with Al Bayt Mitwahid Association for a year. A non-profit organisation dedicated to celebrating unity and promoting a culture of giving, Al Bayt Mitwahid provides an open platform for UAE communities to take part ...

Abu Dhabi / WAM The total value of the UAE’s foreign trade in the past five decades amounted to some $9.32 trillion (AED34.23 trillion), according to the United Nations Conference on Trade and Development (UNCTAD). Additionally, the country’s trade balance from 1971 to 2020 recorded a surplus of nearly $1.3 trillion (AED4.76 trillion). The UNCTAD’s figures also reported that the ...

Abu Dhabi / WAM The UAE with its abundant solar power has the potential to become an exporter of renewable hydrogen to Europe in the future, a top European Union (EU) official told Emirates News Agency (WAM). “What is important for us, in addition to scaling up renewable hydrogen in the EU, is to create a global hydrogen market that ...

Vienna / WAM The Opec Fund for International Development (OFID) signed an $80 million loan agreement with the African Export-Import Bank (Afreximbank) to finance international trade directly among corporates or through financial intermediaries. The Opec Fund’s support will assist in boosting Afreximbank’s liquidity to grow its loan portfolio as it finances exports and imports in critical sectors such as agriculture, ...