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  DUBAI / Reuters Saudi Electricity Co (SEC) swung to a first-quarter profit on Wednesday after a royal decree exempted the Gulf’s largest utility firm from municipality fees. The company, which the government is aiming to restructure to improve efficiency, made a profit of 4.94 billion riyals in the three months to March 31, a bourse statement said. This compares ...

  Bloomberg A surge in demand for Sri Lanka’s latest dollar bond is putting a spotlight on the appetite for emerging-market securities, even amid the Federal Reserve’s tighte- ning campaign. The small South Asian country garnered more than $11 billion of orders for the $1.5 billion of 10-year notes it sold last week, marking a quadrupling in demand compared with ...

  Bloomberg SoftBank Group Corp. has contributed $5 billion to last month’s record $5.5 billion fundraising by Chinese ride-hailing giant Didi Chuxing. SoftBank Group Capital Ltd., an investment arm of Masayoshi Son’s technology empire, contributed $2 billion to last month’s record fundraising by Chinese ride-hailing giant Didi Chuxing. SBGC invested the money in Xiaoju Kuaizhi Inc., the formal name for ...

  Bloomberg Gold imports by India gained more than four-fold in April driven by jewelers restocking in anticipation of a recovery in sales during the wedding season that will last till mid-June. Shipments rose to 98.3 metric tons last month from 22.2 tons a year earlier, according to a person familiar with provisional data from the finance ministry, who asked ...

  Bloomberg The world’s second-largest shipbuilder has split itself into four companies, a move that would facilitate a potential sale of some of the businesses. Hyundai Heavy Industries Co. started trading as four entities on Wednesday as the conglomerate tries to insulate the group from a financial crisis at any one of its divisions. The breakup splits the operations into ...

  Bloomberg China’s producer price gains slowed more than expected in April, adding to signs of a potential easing of global reflation fueled by the world’s second-largest economy. Producer price index rose 6.4 percent from a year earlier, versus a 6.7 percent Bloomberg survey estimate and 7.6 percent gain in March. Consumer price index climbed 1.2 percent, versus 0.9 percent ...

  Bloomberg China could pour more than half a trillion dollars into its Belt and Road Initiative, and the push for greater global influence looks even more promising with US President Donald Trump pulling back from engagement, according to Credit Suisse Group AG. The plan could funnel investments worth $313 billion to $502 billion into 62 Belt-Road countries over the ...

  Bloomberg In the past five years, Parkland Fuel Corp. has more than tripled its market value by snapping up gas stations, propane distributors and other types of fuel sellers across Canada. Its next wave of acquisitions may be in the US. Since Chief Executive Officer Bob Espey took the helm in 2011, Parkland has struck 18 deals valued at ...

  Bloomberg After half a decade of negative interest rates, Denmark’s housing market looks like it can only move in one direction: up. Michael Rasmussen, the chief executive officer of Nykredit Realkredit A/S, the biggest Danish mortgage lender, says the “tailwind” looks like it will last. “We have a strong real estate market and we, of course, benefit from that. ...

  Dubai / Agencies The private sector in the Emirate of Dubai gained momentum by the beginning of Q2 2017 as business conditions improved in key platforms, according to the latest Emirates NBD Dubai Economy Tracker Index. The index is a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy. The data ...