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Bloomberg Petroleos Mexicanos will be free to choose its own partners if Mexico’s next government has its way. President-Elect Andres Manuel Lopez Obrador may seek to change a part of the 2014 energy reforms requiring Pemex receive regulatory approval when choosing partners in oil blocks, according to people with knowledge of the situation. Previously, Lopez Obrador has said that he ...

Bloomberg South Korea’s antitrust watchdog proposed new rules for family-run conglomerates to make it harder for such businesses to muscle through their agendas at the expense of minority shareholders. The proposed amendments to existing regulations would require a newly created holding company to own at least 30 percent in an entity it wants to treat as a listed subsidiary and ...

Bloomberg Reliance Communications Ltd., the embattled Indian mobile operator headed by billionaire Anil Ambani, clinched the approval of overseas bondholders to ease its debt burden, putting the company a step closer to averting bankruptcy. RCom, which defaulted last year on its $300-million bond, got 83 percent of the noteholders to approve the plan in London, the company said in an ...

Bloomberg To ease traffic congestion in the Philippines’ main financial centre, there’s no way to go but underground and afloat, said businessman Antonio Tiu, who is leading a venture for one of two subway projects in the capital region. IRC Properties Inc., Tiu’s venture with Chinese and Hong Kong companies for a $3.7 billion underground system in Metro Manila’s Makati ...

Bloomberg Didi Chuxing said it will suspend a carpool service and has removed two executives after a second female customer in three months was allegedly killed by a driver in China. The ride-hailing app company said in an emailed statement on Sunday that it will halt its Hitch service starting on Monday and reevaluate the carpool operation’s business model. Didi ...

Bloomberg Nestle SA’s unit in Japan expects a fledgling business selling nutritional drinks and supplements to aging consumers to grow into a nearly $1 billion business within a decade as the food giant becomes the latest to employ genetics to market food. The world’s biggest food company has seen increasing demand for a Japanese subscription program for nutrition that can ...

Bloomberg Over the past four months, investor optimism that global crude prices will rise has slumped by almost half. Hedge funds’ net-bullish position on Brent crude, a measure of how positive money managers are that prices will gain, has plunged 49 percent since early April as trade wars cloud the picture for oil consumption. Despite a good week for the ...

Bloomberg President Donald Trump said the US may be on the verge of a “big Trade Agreement” with Mexico as the Nafta representative of that nation’s president-elect signalled that the thorny issue of rules for the energy industry seems to be resolved. Trump emphasised the collaboration with the current and incoming Mexican administrations. “Our relationship with Mexico is getting closer ...

SHARJAH / WAM Sharjah Airport received the first delegation of pilgrims returning to the United Arab Emirates after performing Hajj. They arrived on flights from Jeddah, Medina and Taif in Saudi Arabia. The airport expects a continuous flow of pilgrims from both scheduled and non-scheduled flights to Sharjah during this period. Sharjah Airport Authority (SAA) has taken all possible measures ...

ABU DHABI / WAM The Central Moscow Hippodrome is hosting the sixth leg of the 25th UAE President’s Cup World Series for Purebred Arabian Horses on Sunday, August 26. The prestigious event is being staged for the first time at the Central Moscow Hippodrome, the largest horse racing track in Russia, which was founded in 1834. A field of 13 ...