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Bloomberg Hainan, the Chinese tropical island seeking to become a global tourism attraction, plans to allow foreign visitors access to currently blocked sites such as YouTube. Usage of services including Facebook and Twitter would be allowed in areas of Hainan’s two biggest cities of Haikou and Sanya, according to the provincial government’s three-year plan posted on an official website. The ...

Bloomberg Pipeline bottlenecks in North America’s biggest oil field are so pervasive that drillers are quitting new wells at a record pace. And it’s about to get a lot worse. The vast pipe networks that haul crude from the Permian Basin are almost completely full thanks to a production boom in the oil-rich area of West Texas and New Mexico. ...

Bloomberg Upstart Mexican driller Sierra Oil & Gas S de RL de CV, which co-owns a billion-barrel find in the Gulf of Mexico, has hired Canada’s Scotia Waterous to sell a stake in a nearby exploratory block. “We are negotiating the final terms of the agreement with the buyer,” said Ivan Sandrea, Sierra’s chief executive officer, speaking over the phone ...

Bloomberg President Donald Trump threatened a 20 percent tariff on cars imported from the European Union unless the bloc removes import duties and other barriers to US goods, escalating a global trade war the EU warned could endanger $300 billion in commerce. “Based on the Tariffs and Trade Barriers long placed on the US and it great companies and workers ...

Bloomberg Verizon Communications Inc. and AT&T Inc. will rein in third-party selling of their phone-location data after a prison contractor let law-enforcement officers track wireless customers without authorisation. The two largest US wireless carrier announced the move in response to a plea from Senator Ron Wyden, a Democrat from Oregon. The legislator had demanded last month that carriers and the ...

Bloomberg IHeartMedia Inc, the biggest US radio broadcaster, formally turned down a $1.16 billion bid from John Malone’s Liberty Media Corp., but other talks are continuing as the company navigates its way through bankruptcy. Liberty officially withdrew its bid June 15 after being informed that its offer for a 40 percent stake wasn’t enough to satisfy the company or its ...

Bloomberg Canada’s economy is stuck in a soft patch, but analysts remain optimistic a rebound and further interest-rate hikes are still in the cards. Data over last month reveal an economy struggling to find its footing and hobbled by headwinds ranging from trade frictions with the US to a slowing housing market and poor weat-her. Still, economists remain convinced that ...

Bloomberg Mubadala Petroleum on Wednesday announced that it has completed the acquisition from Italy’s Eni of a 10 percent participating interest in the offshore Shorouk Concession in Egypt, which contains the supergiant Zohr gas field. Following the completion, Eni, through its subsidiary IEOC, holds a 50 percent interest in the concession. The other partners in the concession are BP with ...

DUBAI / WAM The Port of Prince Rupert and DP World have agreed on terms of a project development plan that outlines the next phase of expansion for the DP World Prince Rupert Fairview Container Terminal. The Phase 2B expansion will increase annual throughput capacity at Can-ada’s second largest container terminal to 1.8 million Twenty-foot Equivalent Units (TEUs), when complete ...

DUBAI / WAM Emirates Transport (ET) announced net profit of AED244.2 million for the year 2017, an increase of 34 percent on 2016, with revenues also boosted to AED2.558 billion, recording an increase of 6.8 percent compared to the previous year. In his introductory comments of the report, Hussain bin Ibrahim Al Hammadi, Minister of Education and Chairman of ET’s ...