News

  Reuters Rosneft PJSC signed investment and crude-purchasing agreements with Libya’s National Oil Corp. as more international companies return to the North African country to gain access to Africa’s largest reserves. Moscow-based Rosneft agreed to invest in exploration and production in Libya, the state-run NOC said Tuesday in a statement on its website, without specifying the amount or timing of ...

  Bloomberg Noble Energy Inc. is working with Barclays Plc on the sale of a 7.5 percent stake in the offshore Tamar natural gas field, according to people with knowledge of the matter. The company and its advisers — which include another unidentified bank — are approaching institutional investors for the sale, which may be worth between $1 billion and ...

  Bloomberg Indian Oil Corp., the nation’s top refiner, is reconsidering plans to invest $8 billion in the country’s east after a provincial government threatened to withdraw promised tax breaks, people with knowledge of the matter said. The government of Odisha state said in a letter to the company that it was no longer keen to provide a deferral of ...

  Bloomberg Natarajan Chandrasekaran took over as chairman of Tata Sons Ltd., the holding company of Tata Group, pledging to improve capital allocation and boost returns from the $100 billion salt-to-software Indian conglomerate. The challenge for Chandrasekaran, or Chandra as he’s known, will be to rekindle growth and revive Tata’s weaker units after almost four months of boardroom turmoil that ...

  Bloomberg Singapore plans to implement Southeast Asia’s first carbon tax starting in 2019, a move that would raise energy costs in the island nation and require more than 30 big polluters such as power plants to pay the levy. The proposal would charge between S$10 ($7) and S$20 a ton on emissions of carbon dioxide and five other greenhouse ...

  Bloomberg Hong Kong property stocks extended gains ahead of the city’s annual budget speech on Wednesday, as some analysts anticipated announcements that would benefit developers. Property companies were the biggest gainers on the Hang Seng Index, with Sun Hung Kai Properties Ltd. climbing almost 3 percent and Henderson Land Development Co. advancing 1.4 percent, both on volume that was ...

  Bloomberg After years of disappointment, a quiet revolution may be underway in the Japanese stock market. Japan’s companies have for years sat on record piles of cash — the equivalent of $2.4 trillion in September, the most in the world. The issue has been deploying those funds for shareholder benefit. A key part of Abenomics has been sharpening the ...

  Bloomberg The US economy should be able to weather President Donald Trump’s temporary travel ban, economists say, though any broadening of immigration and visa restrictions could hurt the labor force and productivity. Two-thirds of economists surveyed by Bloomberg said the ban, which has for the moment been temporarily suspended by the courts, will have “little to no effect” on ...

  AP European Union finance ministers agreed on Tuesday to new rules aimed at preventing multinational companies from exploiting differences in tax rates between countries in the 28-country EU and those outside the bloc. At a meeting in Brussels, ministers backed the new rules, which will target various practices whereby large corporations can take advan-tage of loopholes between the tax ...

  Bloomberg US utility owners from Duke Energy Corp. to NextEra Energy Inc. are warning investors that their earnings may take a hit from tax reforms being floated in Washington. At risk is a provision corporations have enjoyed for years. It gives utilities the right to deduct what can be considerable tax expenses because of the billions of dollars of ...