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Bloomberg Mangal Prabhat Lodha, the founder of Lodha Group and a lawmaker representing India’s ruling Bharatiya Janata Party, has become the nation’s richest real estate developer after the company’s sales increased 22 percent. Lodha’s wealth is estimated at $3.8 billion, according to the GROHE Hurun India Real Estate Rich List. Lodha, who started the real estate business three decades ago ...

Bloomberg Farmers in Vietnam are coming across a worrying phenomenon: Coffee fruits empty of beans. Several areas in the world’s biggest grower of robusta coffee have reaped fruits that have no beans inside or where beans are smaller than usual. The empty cherries are most common in Gia Lai province in the north, which normally provides about 15 percent of ...

Bloomberg A recent surge in exports from China to the US is set to turn into a slump in January as tariffs imposed on Chinese goods rise, according to Nomura economists. In September, US President Donald Trump imposed a 10 percent tariff on $200 billion of imports from China and pledged to raise the duty to 25 percent at the ...

Bloomberg Simplicity is supposed to be a selling point for Apple Inc’s iPhone. It may be a problem at the US Supreme Court. The court will hear arguments on Monday on accusations that Apple is using its market dominance to jack up prices for iPhone apps. A ruling against Apple, letting a lawsuit go forward, could add to pressure the ...

Bloomberg Insolvencies among Canadian corporations climbed 4.6 percent in the third quarter, the sharpest increase in at least six years, a sign higher borrowing costs may be taking a toll on businesses. Some 826 companies filed for insolvency in the three months through September, compared with 790 in the same period a year earlier, the Office of the Superintendent of ...

Bloomberg BT Group Plc’s restructuring is starting to bite, with workers accusing the British telecom company of betrayal as it cuts thousands of jobs and sweeps away layers of management. Chief Executive Officer Gavin Patterson began to overhaul the world’s oldest phone company in June, under pressure to revive profits and a moribund share price. The changes involve 13,000 layoffs ...

Bloomberg US companies are evading President Donald Trump’s goods tariffs by partly moving production abroad, shielding China for now from the effects of an escalating trade dispute, according to research by UBS Group AG. “If US companies move a stage of their manufacturing overseas (to a country other than China), the trade tax is avoided,” Paul Donovan, chief economist at ...

Bloomberg German economic growth was the weakest in almost four years in November as both services and manufacturing cooled. The composite Purchasing Managers’ Index (PMI) for Europe’s largest economy dropped to 52.2 in November from 53.4 last month, according to a flash reading released by IHS Markit. The result, below all estimates in a Bloomberg survey of economists, pushed the euro ...

Bloomberg Preliminary figures compiled by Venezuela’s central bank indicate that the crisis-wracked nation’s economy contracted 16.6 percent in 2017, according to two people with direct knowledge of the estimates. For the first time since 2016, the bank is preparing a raft of macroeconomic indicators for International Monetary Fund (IMF) to avoid sanctions including a possible expulsion from lender. Bank technicians ...

ABU DHABI / WAM Dana Gas, the Middle East’s leading publicly-listed regional natural gas company, and its partner Crescent Petroleum, have announced achievement of a 30% increase in production capacity at the Khor Mor field in the Kurdistan Region of Iraq, which the companies jointly operate on behalf of Pearl Petroleum. This increase delivers much-needed gas supply to fuel power ...