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Bloomberg India is working towards a $5 trillion dollar economy by 2025, Prime Minister Narendra Modi said on Tuesday at the opening session of the World Economic Forum in Davos. “Almost all areas of our economy have been opened to foreign direct investment,” said Modi, the first Indian prime minister in two decades to attend the forum of global business ...

Bloomberg The Philippines retained its position as one of the world’s fastest-growing economies after expansion exceeded 6 percent for a sixth year. Gross domestic product increased 6.7 percent in 2017, the Philippine Statistics Authority said in Manila on Tuesday, matching the median estimate in a Bloomberg survey of economists. The economy rose 6.6 percent in the fourth quarter from a ...

Bloomberg Sunlands.com, a Chinese online learning provider, is planning a US initial public offering that could raise about $300 million, people with knowledge of the matter said. The Beijing-based company, which is backed by New Oriental Education & Technology Group Inc., aims to sell shares as soon as the first half of this year, according to the people, who asked ...

Bloomberg After a year of chest thumping, President Donald Trump has finally delivered the type of trade blow his political base has been craving. Trump slapped tariffs on imported solar panels and washing machines in his first major move to level a global playing field he says is tilted against American companies. The decision came two days after the one-year ...

Bloomberg UK regulators dealt a setback to 21st Century Fox Inc.’s planned 11.7 billion-pound ($16.3 billion) takeover of Sky Plc, saying the deal would give Rupert Murdoch too much control over the country’s media. Fox’s bid to buy the European pay-TV broadcaster wouldn’t be in the public interest, the Competition and Markets Authority said in provisional findings on Tuesday in ...

Bloomberg Britain recorded its smallest budget deficit for any December in 17 years as value-added tax receipts reached a record and the Treasury received a bumper credit from the European Union. Net borrowing narrowed to 2.6 billion pounds ($3.6 billion), well below the median forecast of economists, from 5.1 billion pounds a year earlier, figures showed. It left the shortfall ...

Bloomberg German investor confidence rose to an eight-month high in January, setting an optimistic tone for Europe’s largest economy in 2018. The ZEW Center for European Economic Research in Mannheim said that its index of investor expectations increased to 20.4 from 17.4 in December. Economists in a Bloomberg survey predicted a gain to 17.7. Germany’s economy has been enjoying a ...

Bloomberg Netflix Inc. surged in late trading after a blow-out quarter, vaulting past $100 billion in market value for the first time to put the video service on a lofty perch with the likes of Goldman Sachs Group Inc. and Qualcomm Inc. The world’s largest online TV network reported its strongest year of subscriber growth to date. Netflix added 24 ...

BEIJING / Reuters China is pulling in ships from all over to avoid a natural gas supply squeeze ahead of another cold snap and as the world’s most populous nation prepares for Spring Festival celebrations. Fuel demand in January and February typically slows as temperatures improve compared with the busiest month, December, but data suggests this year could buck the ...

Bloomberg The global oil industry’s backlog of big drilling projects is starting to shrink as prices improve. From production vessels tapping Brazil’s deep-water reserves to pipes connecting rigs to underwater wells in China, the number of ventures delayed since the oil crash that finally got approval to get off the ground totaled 18 last year, according to a report by ...