News

  Bloomberg The Canadian government’s approval of two major oil export pipelines may mean the death knell for a third. For more than two years, TransCanada Corp.’s proposed 1.1 million barrel-a-day Energy East pipeline, designed to run from Alberta to New Brunswick, has been mired in regulatory hearings and opposition from environmentalists. Now, the hurdles it faces may be even ...

  Washington / AFP The USA unemployment rate in November fell to its lowest level since August 2007 as the economy continued to add new jobs, all but guaranteeing an interest rate hike this month. The jobless rate fell an unusually large three-tenths to a surprising 4.6 percent, the Labor Department reported. A solid 178,000 net new positions were created, ...

  Bloomberg AT&T Inc.’s aggressive pricing strategies in Mexico are causing the company to lose “a lot” of money, said Carlos Slim, the billionaire who controls the phone giant’s biggest rival. “You can see it in their balance sheets,” he said. AT&T’s low-cost plans are taking market share from other competitors but not from Slim’s America Movil SAB, which has ...

  Bloomberg The $1.5 billion privatizations of two of China’s biggest solar companies have been thrown into doubt because of concerns they may run afoul of a government effort to keep more of the nation’s money supply at home. Trina Solar Ltd. and JA Solar Holdings Co., whose chief executives have separately proposed buying back the shares they listed in ...

  Bloomberg Vietnam is seeking about $1.2 billion in overseas loans for its only oil refinery before a share sale in 2017, to increase output and meet demand in one of Southeast Asia’s fastest growing economies. “The expansion will help our refinery operate more efficiently since it will boost the overall output by 30 percent and help cut production costs,” ...

  Bloomberg SoftBank Group Corp. is close to tying up $100 billion for a technology fund that it announced with the government of Saudi Arabia, the Japanese company’s founder and Chief Executive Officer Masayoshi Son said. “I am talking to a few investors and I think we are oversubscribed,” Son said at an event in New Delhi on Friday, without ...

  Bloomberg Malaysia said it would provide greater hedging flexibility in its onshore currency market after the central bank’s moves last month to discourage speculators saw the ringgit tumble toward its weakest since 1998. Overseas and domestic fund managers will be allowed to manage their foreign exchange exposure of as much as 25 percent of invested assets, the central bank ...

  Bloomberg The boardroom battles at the $100-billion Tata Group business empire have escalated into a Twitter war of the kind corporate India has never seen. Thousands of tweets with hashtags such as #WadiaTruthsTataLies, #CyrusMistryforGovernance and #RaTantrum are trending, steered by supporters of deposed chairman Cyrus Mistry. On the other side are #TataForIndia and #Support4Tata, maneuvered by the supporters of ...

  ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan received congratulatory cables on the occasion of the 45th National Day from presidents, kings and leaders of a number of friendly countries. Also, world presidents, leaders and heads of state congratulated Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid ...

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has ordered the distribution of 365 houses and 5,463 plots of land to citizens in Abu Dhabi, Al Ain and the Western Region. The move is in implementation of the directives of President ...