News

Bloomberg Tropical Storm Nestor was set to drop in on the Florida panhandle on Saturday with high winds and rain that will miss the nation’s energy hub along the Gulf of Mexico coast but could bring needed moisture to area crops suffering from drought. Nestor was located in the Gulf about 121 kilometres southwest of Apalachicola, Florida, and moving at ...

Bloomberg Hangzhou Hikvision Digital Technology Co warned it may lose customers in overseas markets because of its US blacklisting, underscoring the extent to which curbs on the sale of American technology may hurt the world’s largest video surveillance business. Executives at the Chinese camera provider, which reported profit in line with estimates, said however the company was large enough to ...

Bloomberg Reliance Industries Ltd’s quarterly profit rose 18% from a year earlier beating analyst estimates, bolstered by telecommunications, retail and stable refining margin. India’s biggest company by market value posted a consolidated net income of 112.6 billion rupees ($1.58 billion) in the three months through September, against 95.2 billion rupees a year ago, it said in an exchange filing. That ...

Bloomberg Sales of fast moving consumer goods in rural India had their slowest growth in seven years as sagging incomes and a broader credit crunch weighed on spending in the country’s hinterland, where the majority of its population lives. Sales growth of corner-store items from tea to toothpastes dipped to 5% across India’s villages in the quarter ended September, tumbling ...

Bloomberg Investors poured a record $735 million into financial-technology ventures in Singapore in the first nine months of this year, according to research from Accenture Plc, which analysed data from CB Insights, Pitchbook and Tracxn. That’s up 69% from the same period a year earlier and exceeds the $642 million raised in all of 2018, the study found. Investments in ...

Bloomberg Singapore said it wants all four of its carriers to introduce 5G services, with half the city-state covered by a standalone network by 2022 to maintain competitiveness in developing technology. The telecom regulator said it will select two network operators to deploy the 3.5GHz spectrum band on a standalone basis, while the two others will get bandwidth for upgrading ...

Bloomberg About 36% of Thailand’s corporate equity is concentrated in the hands of just 500 people, highlighting wealth inequality in the country, a study released by the Bank of Thailand’s research institute shows. Each of these 500 on average amasses 3.1 billion baht ($102 million) in company profits annually, according to the report from the Puey Ungphakorn Institute for Economic ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), signed on Wednesday a comprehensive strategic framework agreement with the Federal State Budgetary Organisation “Russian Energy Agency” by the Ministry of Energy of the Russian Federation (REA), to explore new opportunities for collaboration across the oil and gas value chain. The agreement highlights the strength of the UAE-Russia bilateral ...

ABU DHABI / WAM UAE sovereign investor Mubadala Investment Company, and Russia’s sovereign wealth fund – the Russian Direct Investment Fund (RDIF) – have announced a series of six cooperation agreements as part of their successful long-term investment partnership that began in 2013. The agreements were announced following the official visit of Russian President Vladimir Putin to the UAE. More ...

Dubai / WAM The Dubai Electricity and Water Authority (Dewa), announced the participation of 102 Chinese companies in the 21st Water, Energy, Technology and Environment Exhibition (Wetex 2019, and eight Chinese companies in the fourth Dubai Solar Show, which will run concurrently with the Wetex, the region’s largest renewable and sustainable energy exhibition. Both exhibitions will be held under the umbrella ...