News

Bloomberg Amazon.com Inc filed a lawsuit challenging the Defense Department’s choice of rival Microsoft Corp for a Pentagon cloud-computing contract worth as much as $10 billion. The lawsuit, which was filed under seal in the US Court of Federal Claims in Washington, marks Amazon’s most aggressive push to defend its competitive edge in the lucrative and cutthroat world of federal ...

Bloomberg Audi AG said it is in talks to buy batteries from China’s BYD Co for its locally made cars, a move that would break the luxury automaker’s reliance on a single supplier in the country as it rolls out new electrified models. “We are in talks with BYD, but I cannot tell you details,” Gaby-Luise Wuest, Audi’s recently appointed ...

Bloomberg India will defer spectrum payments due from telecommunications companies for two years to help an industry ravaged by a year-long price war, mounting debt and a court decision last month demanding $13 billion in overdue fees. The moratorium will be for two years beginning April 2020, finance minister Nirmala Sitharaman told reporters after a cabinet meeting in New Delhi. ...

Bloomberg SoftBank Group Corp is in talks to receive as much as 300 billion yen ($2.76 billion) in financing from Mitsubishi UFJ Financial Group Inc, Sumitomo Mitsui Financial Group Inc and Mizuho Financial Group Inc, according to people familiar with the matter. The loans are part of the company’s regular financing, one of the people said, asking not to be ...

Bloomberg Singapore’s economy expanded at a faster pace in the third quarter than earlier estimated, with the city-state projecting the recovery will take hold next year. The final reading of gross domestic product showed the economy grew an annualised 2.1% in the third quarter from the previous three months, versus a previous projection of 0.6%, the Ministry of Trade & ...

Bloomberg India’s prime minister Narendra Modi is putting the flagging economy back on centre stage after announcing the biggest privatisation drive in more than a decade and making renewed attempts to ring fence the crisis-ridden shadow banking sector. The country is in the midst of a deepening slowdown amid waning consumption — the bedrock of the $2.7 trillion economy. And ...

Bloomberg Vietnam wants its importers to ensure that what they’re bringing into the country won’t contain a disputed South China Sea map that’s been spotted in items from vehicle navigation to solar inverter software. The ministry of industry and trade, in a statement on the website, said companies must review contracts and improve their monitoring of the imported goods. For ...

Bloomberg Alibaba Group Holding Ltd has attracted about 200,000 investors to apply for the retail portion of its Hong Kong share sale, Hong Kong Economic Times reported, citing unidentified sources. It would make Alibaba the most popular listing of the year by the number of subscribers, the paper said, while adding that the number of retail buyers is less than ...

NEW YORK / WAM The UAE underscored the importance of tolerance and dialogue in reconciliation efforts and affirmed the UAE’s commitment to promoting peaceful coexistence and political solutions to address global challenges, during the UN Security Council Open Debate on peacebuilding and sustaining peace specifically the role of reconciliation. “The UAE has always been keen on promoting the principles of ...

Dubai / Emirates Business Emirates, the world’s largest international airline, on Wednesday announced that it has signed a full purchase agreement for 30 Boeing 787-9 aircraft, worth AED32.3 billion ($ 8.8 billion) at list prices, at the Dubai Airshow 2019. Under its agreement with Boeing, Emirates has exercised its right to substitute the B777x with B787s. This deal includes Boeing ...