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Bloomberg Palm oil production in Indonesia will probably climb to a record this year as wet weather boosts yields in the world’s top grower. Output will increase 10 percent in 2018, Togar Sitanggang, secretary-general of the Indonesian Palm Oil Association, said, without providing a more specific forecast. Production climbed about 18 percent in 2017 to a record 38.2 million metric ...

Bloomberg Ola, India’s biggest ride-hailing startup, is heading down under. It’s the overseas debut for Ola, which will start inviting drivers in Sydney, Melbourne and Perth to sign up, it said. Ola will be competing with Uber Technologies in Australia. The two companies have been going head-to-head in India’s $10-billion ride-hailing market where the ramshackle public transportation systems in cities ...

Bloomberg Three quarters of companies surveyed by the American Chamber of Commerce in China say they feel unwelcome, reflecting perceptions foreign firms aren’t treated equally to domestic competitors. The disparity in some cases comes from uneven enforcement of the law, which some firms say has become a version of protectionism, according to a survey. Protectionism is one of the top ...

Bloomberg The center of gravity in Europe’s natural gas market is heading south as one of the continent’s biggest pipeline operators builds a system that could make Italy an exporter of the fuel for the first time. Fortified with new supplies due from a $5.6 billion pipeline link to the Caspian Sea as well as tankers full of gas in ...

Bloomberg Nigeria plans to start building a $5.8 billion hydro-power plant in the eastern Mambila region this year, after it agrees on loan terms with China’s Export-Import Bank. “We hope to break ground this year if we can conclude the financing,” Power, Works and Housing Minister Babatunde Fashola said in a Jan. 23 interview in the capital, Abuja. “Contracts are ...

Bloomberg PetroChina Co, the country’s biggest oil and gas producer, forecast that full-year profit rebounded off a record low and may have tripled amid cost cutting and higher energy prices. Net income for 2017 may have jumped by as much as 16 billion yuan ($2.5 billion), the state-run oil giant said in a filing to the Hong Kong stock exchange, ...

Bloomberg Saudi International Petrochemical Co. is considering investing in the US shale industry in what would be the company’s first foreign venture as it faces higher costs and a shortage of feedstock at home in Saudi Arabia. Sipchem, as the business is known, may seek a US partner in its effort to tap into the booming shale industry, though Chief ...

Bloomberg Oil’s slowing down as danger signs flash ahead. Futures are on course for their biggest drop in seven weeks amid concern an investor frenzy for risky assets may be overextending markets, while a weak dollar that had lifted commodities is gaining back some strength as Treasury yields advance. Sentiment is also being hurt as American crude inventories were forecast ...

Bloomberg Exxon Mobil Corp. is set to invest $50 billion over the next half decade in a return to the oil giant’s spending habits before crude suffered its worst price rout in a generation. With oil prices now hovering above $65 a barrel in New York, Exxon Chief Executive Officer Darren Woods disclosed a program that includes the Permian Basin ...

Bloomberg SAP SE Chief Executive Officer Bill McDermott has backed US President Donald Trump’s tax plan, and revealed a $2.4 billion deal for Callidus Software Inc., its biggest acquisition in more than three years. SAP said it will pay $36 a share for Dublin, California-based Callidus, known as CallidusCloud, to give Europe’s biggest software company access to new sales analytic ...