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Bloomberg Vedanta Ltd. is targeting zinc production of 1 million metric tons a year from its southern African operations as it expands output at its new Gamsberg mine in South Africa’s Northern Cape province, helping it remain one of the world’s biggest miners of the steel ingredient. Vedanta Zinc International expects to receive board approval to proceed with phase 2 ...

Bloomberg The revival of Pininfarina SpA, the iconic coach-builder famous for designing Ferrari sports cars, is ahead of schedule, though the turnaround is an “unfinished story,” said Anand Mahindra, chairman of the group that bought the Italian company three years ago. Pininfarina, founded in 1930 by Battista “Pinin” Farina, is boosting profit and winning orders for clients inside and outside ...

Bloomberg Uber Technologies Inc has joined rival Lyft Inc in filing for an initial public offering (IPO), according to a person familiar with the matter. Like Lyft, Uber this week submitted its IPO filing confidentially to the US Securities and Exchange Commission (SEC), said the person, who asked not to be identified because the matter was private. Unlike Lyft, the ...

Bloomberg Chipmaker Broadcom Inc gave a strong sales forecast for next year thanks to heavy spending by cloud providers. The company’s wireless business, a key Apple Inc supplier, performed better than expected in the quarter that ended on November 4. Chief Executive Officer Hock Tan suggested that was driven by demand for older iPhones, but also warned of a “downtick” ...

Bloomberg A Blackstone Group LP unit that buys stakes in alternative-asset managers is nearing a deal to make a minority investment in GI Partners, according to people familiar with the matter. The size of the stake that Blackstone Strategic Capital Holdings is in talks to acquire couldn’t immediately be learned. The transaction hasn’t been finalised and either side may decide ...

Bloomberg UK financial-services exports to the European Union could be 59 percent lower after Brexit, even if Prime Minister Theresa May secures a free-trade agreement, according to the Centre for European Reform. “Any arrangement that sees the UK leave the single market will inevitably lead to new barriers to services exports from the UK to the EU,” the think tank’s ...

Bloomberg In a few months time, Swedish truck-making giant Volvo AB will deliver its first all-electric model. The battery-powered eight-wheeler will ply the streets of Germany’s northern port city of Hamburg, picking up garbage. While Chief Executive Officer Martin Lundstedt expects to go slow on the initial ramp-up, he sees the project as a harbinger for a rapid proliferation of ...

ABU DHABI / WAM As per the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, the Emirati women’s representation in the Federal National Council (FNC) will be increased to 50 percent in the coming parliamentary term. The step reflects the country’s future approach aimed at achieving full empowerment of Emirati women and emphasises their pioneering and effective ...

ABU DHABI / WAM President HH Sheikh Khalifa bin Zayed Al Nahyan, sent a cable of congratulations to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud of Saudi Arabia, on the fourth anniversary of his accession to the throne. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and ...

Bloomberg Oil in New York jumped after the Organization of Petroleum Exporting Countries (Opec) and allied crude exporters surprised traders with a larger-than-expected output reduction. Futures advanced more than 2 percent in New York and London. The Opec and aligned nations will collectively curb production by 1.2 million barrels a day, 20 percent more than previously discussed. “It’s been a ...