News

Bloomberg Indonesia will build a new capital city on the island of Borneo, home to some of the world’s biggest coal reserves and orangutan habitats, as President Joko Widodo seeks to ease pressure on congested and sinking Jakarta. The new administrative headquarters will be located between North Penajam Paser and Kutai Kartanegara in East Kalimantan, Jokowi, as the president is ...

Bloomberg One of Australia’s biggest infrastructure investors has pledged to cut carbon emissions across its portfolio of airports, toll roads and electricity assets in the nation by about 10%, as the pensions industry steps up its commitment to tackling climate change. IFM Investors Pty., which manages A$140 billion ($94 billion), will cut 200,000 tons of annual carbon emissions from its ...

Bloomberg Chinese autonomous-driving company Pony.ai struck a partnership with Toyota Motor Corp., a boon for the startup seeking to take on US rivals such as Alphabet Inc.’s Waymo. Pony.ai and Toyota are teaming up on a pilot project as they attempt to accelerate the development and deployment of self-driving vehicles, according to a statement from Pony.ai on Monday. The companies ...

Bloomberg Tesla Inc. will raise vehicle prices in China this week, two people familiar with the matter said, a reaction to the trade war that weighs on the country’s currency and threatens to once again lead to higher import tariffs. Price hikes that were originally planned for September will now take place this Friday, a sales representative and another Tesla ...

Bloomberg India’s steps to boost financial market sentiment and support businesses could fall short of shoring up growth in Asia’s third-largest economy. Finance Minister Nirmala Sitharaman announced a number of measures last week to help re-ignite an economy that’s slowed sharply on the back of weak consumption and a deteriorating global environment. However, she didn’t outline any major fiscal support ...

Bloomberg Singapore is weighing options including the issuance of government bonds to fund the S$100 billion ($72 billion) it could take to fight rising sea levels over the next century. In the short-term, funding for projects such as a S$400 million upgrade to the city-state’s drainage systems to boost flood resilience will come from ministry-level expenditures, Minister for the Environment ...

Bloomberg Liquefied natural gas (LNG) may have dodged the latest round of Chinese tariffs on US goods, but plans for new American terminals to ship the fuel abroad are under threat as trade war escalates. Tellurian Inc. and other developers will probably delay final investment decisions on multibillion-dollar US LNG export projects to 2020 from this year as the tensions ...

Bloomberg US President Donald Trump said trade talks with China are back on after Beijing requested negotiations, easing immediate tensions after a weekend of tit-for-tat tariffs rocked financial markets and fuelled fears that the standoff would drag the global economy into recession. Speaking at the Group of 7 meetings in Biarritz, France, Trump said US officials received two “very productive” ...

Bloomberg German business confidence extended its decline, falling to the weakest level in almost seven years, as a deepening manufacturing slump put Europe’s largest economy on the brink of recession. Germany’s export-centered economy is struggling as global trade tensions worsen. GDP contracted in the second quarter and the Bundesbank predicts it could shrink again in the third, and the US-China ...

Bloomberg The US and Japan agreed in principle on a trade deal that would slash Tokyo’s tariffs on American beef, and other agricultural products, while delaying for now the threat of additional levies on Japanese auto exports to the US. US President Donald Trump and Japanese Prime Minister Shinzo Abe announced the agreement on Sunday on the sidelines of the ...