News

  Bloomberg Toshiba Corp., reeling from an impending multibillion-dollar writedown in its Westinghouse Electric unit, has been battered to the point where a possible bankruptcy of the nuclear equipment business is being cheered by investors. Shares in the electronics conglomerate rose 6.9 percent in Tokyo, the most in a month, after Toshiba said Westinghouse’s board will decide whether to file ...

  Bloomberg Algeria’s state-run energy producer plans to boost crude oil output by 14 percent in the four years to 2019 and invest billions of dollars in exploration projects. Sonatrach Group expects to invest $9 billion from 2017 to 2021 in its search for new deposits of oil and natural gas, said Farid Djettou, head of the company’s associations division, ...

  Bloomberg Daewoo Shipbuilding & Marine Engineering Co. could receive another lifeline from lenders as the world’s biggest shipbuilder needs cash to complete work on pending orders to stay afloat. Korea Development Bank and Export-Import Bank of Korea will provide 2.9 trillion won ($2.6 billion) in additional loans and swap about 1.6 trillion won of debt to equity, Korea Development ...

  Bloomberg It may be one of the smallest economies in Asia, but Vietnam is among those leading the infrastructure race. Vietnam’s public and private sector infrastructure investment averaged 5.7 percent of gross domestic product in recent years, the highest in Southeast Asia and compares with 6.8 percent in China, according to the Asian Development Bank. Indonesia and the Philippines ...

  Bloomberg Bosses of Britain’s public companies rarely look forward to facing off with their shareholders, but the run-up to this year’s annual general meeting season is provoking a particularly strong sense of anxiety. Executive pay is high on the political agenda, with the government wrapping up a consultation exercise on the issue just last month and Prime Minister Theresa ...

  Bloomberg General Motors Co. is trying to make up for lost time with its redesigned Chevrolet Equinox. While the largest US automakers’ competitors have pumped out new and refreshed sport utility vehicles to cash in on the booming segment, GM soldiered on with an Equinox that last underwent major changes seven years ago. Equinox deliveries slumped 13 percent in ...

  Bloomberg Detroit was once known as a city where a working-class family could afford to own a home. Now it’s a city of renters. Just 49 percent of Motor City households were homeowners in 2015, down from 55 percent in 2009 and the lowest percentage in more than 50 years. Detroit isn’t alone, of course: The rate of US ...

  Bloomberg The proportion of Californians making electric cars their new set of wheels has stayed flat for years even though incentives make some models basically free to lease, a trade group told state regulators that may toughen up already-stringent rules. With state rebates, federal tax credits and manufacturer discounts, the effective monthly payments in California for zero-emission vehicles including ...

  Abu Dhabi / WAM Khalifa University was ranked the 76th best university in Asia, according to the latest Times Higher Education (THE) Asia University Rankings. This prestigious placement follows the decade-old university’s naming as the top university in the UAE, according to 2016 THE World University Rankings and QS 2016 World University Ranking. In addition, the university was ranked fourth ...

Abu Dhabi / WAM The Emirates Nuclear Energy Corporation (ENEC) successfully completed the welding of Reactor Coolant Loop piping and the Reactor Containment Building (RCB) dome structure for Unit 3 of the Barakah Nuclear Energy Plant. The completion of pipe welding for the Reactor Coolant Loop has set a new global benchmark for quality in pipe welding, and the RCB dome ...