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  Bloomberg Saudi Arabia is planning to sell almost half of Saudi Arabian Oil Co., the world’s largest oil company, al-Eqtisadiah reported. A 49 percent stake will be sold within 10 years, according to the Riyadh-based newspaper, which cites an unidentified senior government official. Deputy Crown Prince Mohammed bin Salman said in April that an initial public offering is planned ...

  Bloomberg China slapped a $29 million fine on General Motors Co. for antitrust violations, a sign of the growing tensions between the US and the Asian nation. The largest US automaker is accused of setting minimum prices on some models in its SAIC General Motors joint venture. The Shanghai Municipal Development & Reform Commission, which imposed the 201 million ...

  AFP Whizzing across a blue-lit platform with a whirr and a squeak, liquid plastic emanating from its chrome tip, the 3D printer seems a far cry from the muddy, crop-filled fields that fringe Yangon. But in an industrial park south of Myanmar’s commercial hub, the advanced technology is now being used to design bespoke parts that are changing the ...

  Bloomberg Alibaba Group Holding Ltd.’s on- demand services unit is close to securing $1.2 billion of funding for expansion after getting backing from first-time investors including Silver Lake Management and China’s sovereign wealth fund, people familiar with the matter said. The latest round for Koubei, which deals in local services such as food delivery, will surpass a $1 billion ...

  Bloomberg Shareholders of Tata Motors Ltd. voted to oust independent director Nusli Wadia from the automaker’s board, bringing the owner of Jaguar Land Rover closer to parent Tata Sons Ltd., the holding company of India’s largest conglomerate. About 71 percent of the investors who voted agreed to remove Wadia at a special shareholder meeting in Mumbai on Thursday, according ...

  Bloomberg Coal’s recovery was one of the biggest surprises in commodities this year, but it’s all poised to end as output rises from China, producer of half the world’s supply. After half a decade of declines, European prices rebounded more than 80 percent as China, also the world’s biggest consumer of the fuel, boosted imports. Benchmark month-ahead contracts will ...

  ABU DHABI / WAM Green energy generation has reached a tipping point, the World Economic Forum (WEF) asserted in an investors handbook it released on Thursday, and called investors to shift towards more green energy investments, as investments remain below what is needed to reach the Paris Accord targets, despite the tipping point. The cost of generating energy through ...

  Riyadh / AFP Saudi Arabia on Thursday projected a 2017 budget deficit of about $53 billion and a lower than expected shortfall for this year after government cost-cutting in response to lower oil prices. Expenses next year will reach 890 billion riyals ($237 billion) against revenues of 692 billion riyals ($184 billion), cabinet said in a statement. It said ...

  Beijing / AFP China saw 66,000 workplace deaths in 2015 despite strengthened legislation, Chinese authorities said, highlighting often dangerous labour conditions in the world’s second largest economy. The world’s workshop also saw 282,000 workplace accidents in 2015, according to a report posted on Wednesday on the official website of the National People’s Congress (NPC) of China. Deaths have dropped 50 ...

  ABU DHABI / WAM The Board of Executive Directors of the Arab Monetary Fund on Thursday held its 181st meeting to discuss activities in the first quarter of 2016 as part of its five-year strategy 2015-2020 for lending. The board also discussed the activities of the fund’s technical teams working in some Arab countries on carrying out agreed reform ...