News

  Mumbai / Bloomberg Reliance Industries Ltd.’s fourth-quarter profit climbed 17 percent to the highest in more than eight years as oil’s collapse improved margins from turning crude into fuels and petrochemicals. Net income at the operator of the world’s biggest refining complex increased to $1.1bn in the three months ended March 31 from 62.4 billion rupees a year earlier, ...

  Tokyo / Bloomberg Sony Corp. will postpone its forecasts for the current fiscal year while it assesses the damage from an earthquake that shut its main plant for camera sensors. The Japanese company said it won’t provide its usual financial outlook when it reports earnings on April 28 and will instead announce guidance in May. On Thursday, the company ...

  Bloomberg Conditions in the $5.3 trillion foreign-exchange market have turned supportive for one of the most popular trading strategies — the carry trade. Returns from the technique, in which investors borrow in currencies with low interest rates and use the proceeds to buy an asset with higher rates, advanced this week to the highest levels since December, according to ...

  Bloomberg Brazil shed more than 100,000 formal jobs in March as a second year of recession pummels a labour market that’s not expected to improve in 2016 regardless of how President Dilma Rousseff’s impeachment process plays out. The March result of 118,776 jobs lost marked the 12th straight month of employment decline, the longest run of negative prints since ...

  Bloomberg Citigroup Inc. and U.S. Bancorp agreed to sell their Brazilian credit-card joint venture to Stone Pagamentos SA, according to an e-mailed statement from the Sao Paulo-based payments company. The deal gives the venture, Elavon do Brasil Solucoes de Pagamento SA, an enterprise value of more than 300 million reais ($84 million), according to a person familiar with the ...

  Bloomberg Mexichem SAB and Empresas ICA SAB fell the most on Mexico’s benchmark index after a deadly blast at a petrochemical plant where both companies had operations. Mexichem dropped 3.4 percent, capping a two-day decline of 8.4 percent after the on Wednesday explosion at a facility the company co-owns about 600 kilometers from Mexico City. ICA, which was upgrading ...

  Bloomberg First-round bidders for Yahoo! Inc. could find out as early as next week whether they’ve made it through to the next stage. Yahoo’s advisers will spend the weekend narrowing down the field of bidders after receiving more than 10 initial offers for the Internet company ranging from about $4 billion to $8 billion. Several first-round bidders will be ...

  Calgary, Alberta / Reuters TransCanada Corp agreed to submit to a Quebec environmental review of its Energy East pipeline, avoiding a potential legal battle with the province by putting the controversial project through an extra round of scrutiny. The resolution removes a potential hurdle but also introduces another approval process for the nearly 4,600 km cross-Canadian pipeline, which will ...

  Abu Dhabi / Emirates Business Etihad Airways, the national airline of the UAE, has launched a mobile application for the iPhone that enables guests to organise and manage their journey with even greater ease as the airline continues to adopt innovative technology to reimagine the flying experience. Etihad Airways guests will enjoy 10 percent off flights, and members of ...

  DUBAI / Emirates Business Dubai’s Awqaf and Minors Affairs Foundation (AMAF) has issued its annual report for 2015, recording a 19 percent growth in revenue to hit AED172 million compared with AED144 million in 2014. Over the past year, the Foundation has emerged as a global model for endowment development and nurturing of minors. In 2015, AMAF’s five endowment ...