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Bloomberg India’s proposal to curb drug prices by stripping generic medicines of their brand names has stalled after the plan faced pushback from the country’s pharmaceutical companies, according to people with knowledge of the matter. The Draft Pharmaceutical Policy circulated in 2017 by the Department of Pharmaceuticals has made no progress since opposition emerged from the industry and among some ...

Bloomberg Hong Kong retained its title as Asia’s most expensive rental city for expatriates, while Singapore fell further down the ranking due to a slower economy and fewer relocations, according to consultancy firm ECA International. Hong Kong sat atop the list with an average price of $10,461 per month for an unfurnished, three-bedroom apartment in expatriate neighbourhoods, according to results ...

Bloomberg Saudi Arabia’s sovereign wealth fund is in talks to buy a stake in Endeavor, the holding company for Hollywood talent agency WME, people familiar with the matter said. The Public Investment Fund, known as PIF, is in preliminary discussions to invest more than $500 million, which will help the talent agency for Ben Affleck and Matt Damon expand its ...

Bloomberg Oil reached new highs in London as OPEC members called for output curbs to continue, allaying concerns that the recent rally could weaken their commitment. Brent crude closed above $70 a barrel for the first time in three years after Iraqi Oil Minister Jabbar al-Luaibi said that production curbs have contributed to stability in the market and should remain, ...

Bloomberg Husky Energy Inc., the best oil-sands stock last year, may emerge as a top pick for investors who are looking to capitalize on surging crude prices and already have shares of the largest Canadian producers. The company controlled by Hong Kong billionaire Li Ka-Shing is the cheapest stock among six producers in North America that also own refineries, trading ...

Bloomberg Royal Dutch Shell Plc is investing in a US solar energy developer, continuing its recent expansion into the electricity business. The Anglo-Dutch oil and gas producer will acquire a 44 percent stake in Nashville’s Silicon Ranch Corp., which owns and operates about 100 solar facilities across the US. The investment could be as high as $217 million in cash, ...

Reuters India’s Reliance Industries has declared a 30 percent increase in the installed capacity of its export-focussed oil refinery, a government report showed, increasing the size of the world’s largest refinery complex. India’s Petroleum Planning & Analysis Cell (PPAC) in its October report showed 35.2 million tonnes a year as the installed capacity of Reliance’s refinery in the special economic ...

Bloomberg The European Union has stepped up the demands for concessions that the UK must make during the transition period that follows Brexit, pushing back the cut-off date for the acquisition of rights for EU citizens, according to revised draft negotiating directives obtained by Bloomberg. The UK won’t be able to apply new immigration rules to EU citizens arriving during ...

Bloomberg US transportation regulators plan to take another step towards rewriting federal rules hampering the development and adoption of autonomous technologies— from cars and trucks to buses and trains. Department agencies will issue additional requests for comment to gather input from companies and the public on what rules affecting transport should change or be eliminated, Transportation Secretary Elaine Chao said. ...

Bloomberg BMW AG is betting an overhauled 5Series sedan and new X2 crossover will boost sales this year as the world’s second-biggest luxury carmaker works on its pledge to retake the global lead from Mercedes-Benz. Those models, plus an updated X3 utility vehicle, should carry BMW to gains in all markets, including the US and China, Chief Financial Officer Nicolas ...