News

Bloomberg India is considering a plan to sell its ownership in Hindustan Petroleum Corp. (HPCL) to the nation’s biggest explorer at a premium of not more than 9 percent of the company’s six-month average share price as it seeks to reach a final agreement as early as January 31, according to people with knowledge of the matter. Capping the premium ...

Bloomberg WhatsApp rival Hike of India is introducing a version of Android that lets users message, make payments and access information without an active data connection, seeking to offer services to people who aren’t yet able to access the internet. The modified mobile software, called Total, will be available on four devices starting March, Hike said. People will be able ...

Bloomberg Vertical farming startup Plenty Inc. plans to build 300 indoor farms in or near major Chinese cities to meet rising demand from the country’s middle-class who are willing to pay more for safer food. The company also plans to set up what it calls experience centres in Beijing and Shanghai so that local residents can taste raw vegetables, Chief ...

Bloomberg Hindustan Unilever Ltd.’s revenue climbed 4.1 percent in the third quarter as India’s largest consumer-goods company widened the gap with competition including from yoga guru Baba Ramdev’s Patanjali Ayurved Ltd. Revenue at the Indian unit of Unilever rose to 87.4 billion rupees ($1.4 billion) in the three months through December, the Mumbai-based company said. That exceeded the 84.3 billion-rupee ...

Bloomberg Billionaire Wang Jianlin’s Dalian Wanda Group Co. is close to reaching an agreement to sell two Australian luxury property projects—one in Sydney and one on the nation’s Gold Coast, according to people familiar with the matter. The buyer is of Chinese origin, said two of the people, who asked not to be identified because discussions are private. A deal ...

Bloomberg The pace at which China exports the fuel it doesn’t want is set to jump by more than four times in 2018, according to the nation’s biggest energy producer. That’s a harbinger of bad news for processors in the rest of Asia — from South Korea to Japan and India — who now have to contend with higher crude ...

Bloomberg The world’s hottest offshore prospect for oil companies is off the coast of Guyana, where a string of major discoveries has drawn hundreds of millions of dollars in a quest for crude. The Trump administration is hoping to lure some of that investment to the US with a proposal to sell leases in almost every inch of the nation’s ...

TIGUENTOURIN / Reuters Algeria’s state oil firm Sonatrach will exchange crude for refined products with the world’s largest oil trader Vitol, a Sonatrach official said of the rare move that aims to reduce a record fuel import bill. Vitol would receive up to 2 million barrels a month of the OPEC member’s light, sweet crude and would deliver gasoline and ...

Bloomberg European car sales reached a 10-year high in 2017 as widening economic growth boosted consumer confidence, with SUVs from French manufacturers Peugeot and Renault, Italian competitor Alfa Romeo and Japanese rival Toyota propelling demand. Registrations in 2017 increased 3.3 percent to 15.6 million vehicles, the Brussels-based European Automobile Manufacturers’ Association, or ACEA, said in a statement. The figure was ...

Bloomberg European Commission President Jean-Claude Juncker offered a new twist in his campaign to keep Britain part of the EU. A day after urging British Prime Minister Theresa May to reverse Brexit before it happens in March 2019, the head of the European Union’s executive arm said the UK can always re-apply for membership after departing. Juncker cited the EU’s ...