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Bloomberg More so than anywhere else, automakers are chasing the holy grail of electric mobility in India: a lower price. Mahindra & Mahindra Ltd’s launch of its e-KUV at a price of 825,000 rupees ($11, 587), compared to its next cleanest option — a mid-range petrol variant at 650,000 rupees — highlights the challenge of pricing electric cars that can ...

Bloomberg The brother of Asia’s richest man was ordered to set aside $100 million in his dispute with three Chinese banks, even as he pleaded poverty. “The value of my investments has collapsed,” Anil Ambani said, according to a London court filing by banks seeking around $700 million in defaulted loans. “My net worth is zero after taking into account ...

Bloomberg Singapore authorities urged residents to relax on their shopping sprees that have emptied supermarket shelves, saying supplies aren’t under threat even as response efforts to battle the coronavirus outbreak have escalated. Pictures circulated online of snaking lines at supermarkets as people snapped up rice, instant noodles, toilet paper and sanitisation products. Online grocers including Amazon.com Inc and Redmart Ltd ...

Bloomberg The Justice Department has abandoned its antitrust probe of four automakers that sided with California over President Donald Trump in a fight over the future of fuel economy and emissions requirements. The inquiry had targeted Ford Motor Co, Honda Motor Co, BMW AG and Volkswagen AG over their agreement last year with California regulators to voluntarily meet the state’s ...

Bloomberg Facebook Inc said the global outbreak of the deadly coronavirus is likely to impact production of its Oculus virtual reality headsets, which are produced in China. The Oculus Quest, Facebook’s wireless headset released last year, is out of stock in some regions, according to VR news website UploadVR, and a Facebook spokeswoman said that high demand, and the coronavirus, ...

Bloomberg Uber Technologies Inc and Postmates Inc are unlikely to put a quick stop to a landmark California law they call a monstrous threat to their business models. A judge signalled that she’s inclined to reject a request to temporarily shield the companies from Assembly Bill 5, which is aimed at converting gig-economy workers from independent contractors to employees with ...

Bloomberg Foreign Secretary Dominic Raab faces a tough task when he arrives in Tokyo: persuading Japanese companies — including those that invested in Britain as an entry point to the European Union — to back Prime Minister Boris Johnson’s vision for the UK after Brexit. “Now we’ve left the EU we can take full advantage of the opportunities open to ...

ABU DHABI / WAM The commercial and economic ties between the UAE and Senegal have witnessed recent significant developments, with the value of their trade from 2014 to 2018 amounted to AED9.1 billion, according to statistics from the Federal Competitiveness and Statistics Authority (FCSA), and the Ministry of Economy. The official visit of Macky Sall, President of Senegal, to the ...

Bloomberg European Central Bank (ECB) President Christine Lagarde said her institution is on watch as the coronavirus outbreak provides a new threat to the economic outlook. The disease, which has spread worldwide after originating in China, has shuttered factories, cancelled flights and kept workers at home as governments try to stem the contagion. Lagarde’s comments suggest that the ECB, like ...

ABU DHABI / WAM Adnoc Logistics & Services will test biofuel as a bunkering fuel for ships, in an effort to comply with the 2020 sulphur cap, the company’s Chief Executive Officer Captain Abdulkareem Al Masabi said. Al Masabi stated that Adnoc has applied the regulations by November 2019 across its entire fleet, which totals 28 ships, and the company ...