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Coal India’s production, shipments rise to a record

Bloomberg Coal India Ltd.’s sales and output in March rose to the highest on record as the world’s biggest coal miner rushed to meet its annual production target, a goal that it missed for at least the sixth consecutive year. Output rose 9 percent from a year earlier to 72.3 million tons of coal in March, while shipments rose 5.5 ...

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India plans new duties on smartphone components

Bloomberg India is said to be considering new duties on the import of a key smartphone component in a bid to promote domestic manufacturing in the world’s fastest-growing smartphone market. India’s Ministry of Electronics and Information Technology has mooted a proposal to impose a 10 percent duty on imports of populated printed circuit boards, Reuters reports, citing two unidentified government ...

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China cuts taxes for chipmakers to promote industry development

Bloomberg China said it cut taxes for semiconductor makers, lending new support for the pivotal industry just as US President Donald Trump weighs tariffs on the sector amid rising trade tensions. The new rules cover a broad swath of semiconductor companies. They will be exempt from corporate income taxes for up to five years starting from January 1, the Finance ...

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Texas-sized gas conundrum plagues busiest US oil play

Bloomberg America’s most prolific oil field is now its worst market for natural gas. A pipeline shortage that’s leaving gas trapped in West Texas’ Permian Basin means prices for the fuel there are the lowest of any major US hub, wresting that distinction from Appalachia’s Marcellus Shale. Prices for Permian gas, produced alongside oil in the play, have tumbled 32 ...

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Bahrain says big oil find dwarfs reserves

Bloomberg Bahrain, the smallest energy producer in the Persian Gulf, discovered its biggest oil field since it started producing crude in 1932, according to the country’s official news agency. The shale oil and natural gas discovered in a deposit off the island state’s west coast “is understood to dwarf Bahrain’s current reserves,” Bahrain News Agency reported, without giving figures. US ...

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Crude futures drop 1.9 percent

Bloomberg Crude fell as a sell-off in equity markets signalled a flight from riskier investments. Futures slid as much as 1.9 percent in New York. US stocks declined as China imposed retaliatory tariffs on US goods, the latest move in escalating trade dispute between world’s largest economies. At the same time, supply concerns that prompted hedge funds to increase bullish ...

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Iraq cabinet approves raising crude oil output capacity

Reuters The Iraqi cabinet approved a plan to raise the nation’s crude oil output capacity to 6.5 million barrels per day by 2022, according to a government statement. Iraqi Oil Minister Jabar al-Luaibi said in January capacity was currently close to 5 million bpd. The country is producing more than 4.4 million bpd in line with an agreement between the ...

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Adobe steps up AI-powered marketing to take on rivals

Bloomberg Adobe Systems Inc., the company best known for Photoshop, has lately been spending its time trying to figure out what makes consumers tick. The software maker has been quietly undertaking a project to help corporate customers automate their marketing efforts, part of an accelerated push into artificial intelligence. Called Perfect Path, the prototype system aims to use massive amounts ...

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Time Warner attacks US data underpinning AT&T merger suit

Bloomberg Time Warner Inc.’s attorneys launched a withering attack on the US government’s evidence that its proposed sale to AT&T Inc. could trigger large subscriber losses for pay-TV rivals and lead to an abuse of leverage in programming deals. On the fifth day of the Justice Department’s antitrust trial to stop the deal, Time Warner said the US’s expert estimates ...

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Facebook limits brokers’ data use for ad targets

Bloomberg Facebook Inc. is conducting a broad review of all its data practices and taking a much more conservative stance on some policies, moves that could limit advertisers’ ability to target users on the social network, according to people familiar with the matter. As part of the changes that will be rolled out over the next few weeks, Facebook said ...

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