News

Bloomberg Bahrain has enough foreign reserves to maintain its currency’s peg to the US dollar, central bank governor Rasheed Al-Maraj said, as higher oil prices help the island-kingdom ease pressure on its strained public finances. Al-Maraj, speaking in an interview in the capital Manama, said he wasn’t aware of any current talks between Bahrain and its Gulf Arab allies over ...

Bloomberg Another darling of the Trump administration is poised to gain from the Iran deal breakup as oil surges: Natural gas exports. With the move to curb Iran’s oil output encouraging more shale drilling, prices for natural gas produced alongside crude in West Texas could crater, falling to zero some days, according to Tudor Pickering Holt & Co. Already, the ...

Bloomberg Ant Financial, the Chinese payments giant controlled by Jack Ma, is expected to close a fundraising of at least $10 billion in the next few days, attracting Carlyle Group and the Canada Pension Plan Investment Board as first-time investors, according to people familiar with the matter. The Hangzhou-based company is said to be valued at about $150 billion in ...

Bloomberg Fullerton Healthcare Corp., the medical service provider that shelved plans for a Singapore initial public offering in 2016, is now aiming to sell shares in the US, people with knowledge of the matter said. The Singapore-based company is starting preparations for a US IPO that could take place as soon as this year, the people said, asking not to ...

Bloomberg Didi Chuxing, China’s biggest ride-hailing startup, will suspend its carpooling service for a week, citing an incident in the central city of Zhengzhou. The company will review operations of the Didi Hitch service from May 12, Didi said on its microblog. State media outlet CCTV has reported that a driver on the platform is suspected of killing a passenger ...

Bloomberg The world’s wealthiest family has just bestowed billionaire status on two of India’s most feted tech entrepreneurs. And wiped more than $4 billion from their own fortunes. Walmart Inc., controlled by the Walton family, led a group that bought a 77 percent stake in Flipkart Online Services Pvt. The deal valued the Indian company at about $21 billion. Flipkart ...

Bloomberg Users of Huawei Technologies’s mobile phones will be able to download Bitcoin wallets on their devices for the first time starting on Friday. Huawei, the world’s third-biggest handset maker, is releasing BTC.com’s Bitcoin wallet in its AppGallery, according to an e-mail statement by the company. The BTC.com wallet will be the first cryptocurrency app offered by Shenzhen-based Huawei. The ...

Bloomberg A Chinese developer convicted of paying bribes to win backing for his plans to build a United Nations conference centre in Macau was sentenced to four years in prison. Billionaire Ng Lap Seng, 69, was convicted in July of conspiracy, bribery and money laundering, in the biggest UN corruption scandal since the oil-for-food programme in the early 2000s. Prosecutors ...

Bloomberg With one of the most tenacious activist investors breathing down his neck, Hyundai Motor Group’s crown prince is preparing to defend his family’s dominance of the world’s fifth-largest automotive empire by seeking to win over shareholders ahead of a looming showdown. After announcing about $1.5 billion in buybacks and stock cancellations in the past month, shareholder returns are “just ...

Bloomberg AT&T Inc. has few peers when it comes to corporate influence in Washington. But like the rest of the nation’s capital, it was caught on the outside looking in by Donald Trump’s election triumph. The Dallas-based telecom giant spent more than $350 million on advocacy in the past 20 years — including nearly $17 million last year alone. That ...