News

Bloomberg Coal may account for half of India’s power generation in 2030 despite a boom in solar and wind energy projects, according to analysis by the country’s power-planning body. The assessment, released by the nation’s Central Electricity Authority (CEA), highlights that the nation has a large existing fleet of coal plants and that there’s a mismatch between peak periods of ...

Bloomberg Indian businessman Vijay Mallya won the right to challenge extradition to his home country, at a hearing where he said he’s been turned into “the personification of all of India’s financial ills” and risks being held in a rat-infested, overcrowded jail cell. Mallya, the former billionaire who was known as the “King of Good Times” in India, is fighting ...

Bloomberg HP Inc and Dell Technologies Inc plan to move as much as 30 percent of their notebook production away from China, the Nikkei cited anonymous sources as saying, as global technology giants scramble out of the way of escalating tariffs on US-bound goods. Microsoft Corp, Amazon.com Inc, Sony Corp and Nintendo Co are also looking to move some of ...

Bloomberg Tesla Inc shares surged as a record quarter of deliveries alleviated the worst fears about demand for the Elon Musk-led company’s electric vehicles. The Model 3 maker handed over 95,200 cars to customers in the three months that ended in June, exceeding the previous best mark set in the last quarter of 2018. Tesla’s delivery count exceeded all but ...

Bloomberg French police raided Renault SA’s headquarters outside Paris to gather evidence for an investigation related to spending by former Chairman Carlos Ghosn. A spokesman for Renault confirmed the police presence following a report by L’Express, while an official at the prosecutor’s office didn’t immediately respond to requests for comment. French investigators opened a probe earlier this year into whether ...

Bloomberg Unite Group Plc agreed to buy fellow UK student-housing provider Liberty Living Group Plc for $1.8 billion in cash and shares. Unite is buying the assets from the Canada Pension Plan Investment Board, which will have a 20 percent stake in the group when the deal is completed in the third quarter, according to a company statement. Unite proposed ...

Bloomberg An 18-month labour dispute at an aluminum smelter in Quebec controlled by Alcoa Corp ended after workers accepted a deal, defying the recommendation of their union’s leadership. About 80 percent of workers at the Becancour plant voted to ratify the offer after a meeting of the United Steelworkers in Trois-Rivieres, Quebec, the union said. Alcoa said it expects the ...

Bloomberg Oil slid to its worst loss in two weeks as mounting fears about the global economy undercut the latest plan from Opec and its allies to stabilise markets. Futures dropped by as much as 4.3 percent in New York, the steepest intraday decline since June 12. Bank of England Governor Mark Carney warned of the dangers of rising protectionism ...

DUBAI / WAM Dubai ranked first in the Arab world and 11th globally in ‘Future Readiness’ in 2019, according to ‘Global Competitiv- eness of Talent’ report issued by Institute for Administrative Development in Switzerland in cooperation with the Dubai Competitiveness Office in the Department of Economic Development (DED). The report evaluated various cities worldwide around three main axes — investment ...

DUBAI / Emirates Business The total value of more than 26,000 construction projects exceeded AED9.25 trillion in June, according to the June 2019 Issue of the BNC Projects Journal: The Next Construction Circus — Setting the Stage for Growth, issued by BNC Network. Saudi Arabia leads the GCC region in the total value of construction projects worth $895.8 billion (AED3.29 ...