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Bloomberg India’s Competition Commission has opened an antitrust probe into Amazon.com Inc and Walmart Inc’s Flipkart Online Services Pvt, over exclusive arrangements between the retailers and mobile phone brands and preferential treatment given to some sellers. A complaint by a New Delhi-based traders’ body cited “instances of several vertical agreements between Flipkart with their preferred sellers on the platform” and ...

Bloomberg South Korean leader Moon Jae-in ramped up his commitment to rein in rising property prices on Tuesday, pledging an “endless” stream of stronger measures if soaring housing prices in some neighbourhoods don’t cool. “Excess liquidity and low rates around the globe are behind the rise in property prices, drawing speculative money into real estate and causing large price jumps ...

Bloomberg Indonesia ordered its top refiner to limit the purchase of crude oil from overseas this year as the former OPEC member seeks to source more fuel locally to tackle a persistent current account deficit. The energy and mineral resources ministry issued PT Pertamina with a permit to import only 50 million barrels of crude this year, below the 80 ...

Bloomberg India’s Supreme Court has allowed the federal anti-money laundering agency to seize assets of JPMorgan Chase & Co’s India unit, if needed, for allegedly violating foreign investment rules, according to a lawyer who was part of the proceedings. The court had in July asked Enforcement Directorate to probe JPMorgan’s role in allegedly helping property developer Amrapali Group divert 1.4 ...

Bloomberg Nissan Motor Co said it is in no way considering the dissolution of its alliance with Renault SA, which was shaken even further by the dramatic escape of former chairman Carlos Ghosn from trial in Japan. “The alliance is the source of Nissan’s competitiveness,” the Yokohama-based company said in a statement on Tuesday, pushing back against reports that its ...

Bloomberg Boris Johnson suggested his government may be ready to allow Huawei Technologies Co to supply at least some equipment for its 5G broadband networks even in the face of strong pressure for a ban from the US. “The British public deserve to have access to the best possible technology,” Johnson said when asked about Huawei in a BBC TV ...

Bloomberg Huawei Technologies Co broke into the top 10 recipients of US patents last year, according to an analysis of filings with the US Patent and Trademark Office, the latest sign that Chinese companies are aggressive in pursuing the US lead in global technology. The telecom company’s 2,418 patents, along with 2,177 new patents issued to display-screen maker BOE Technology ...

Abu Dhabi / WAM Abu Dhabi Distribution Company (ADDC) – a subsidiary of Abu Dhabi Power Corporation, ADPower – illustrated a number of its most advanced initiatives at Abu Dhabi Sustainability Week (ADSW) 2020, reinforcing its firm commitment to driving sustainability within its operations and customer base, and accelerating the emirate’s progress alongside the UAE’s sustainability goals. Commenting on the ...

DUBAI / WAM HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Silicon Oasis Authority, (DSOA) on Monday laid the foundation stone for the W Motors Automotive Facility at the Dubai Silicon Oasis, UAE, the first manufacturing facility of its kind in the Middle East, with an investment of AED370 million. The groundbreaking event was also attended by ...

DUBAI / WAM Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA), region, on Monday announces that His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, in his capacity as the Ruler of Dubai, has enacted the Employment Law Amendment Law No. 04 ...