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Kathmandu / DPA In a bid to shift away from heavy dependence on India, Nepal signed an agreement with China to use transit facilities for third country trade by using the ports of the northern neighbour. However, poor infrastructure on the Nepali side, difficult geographical terrain and without the reach of Chinese train up to Nepali border in Kerung (Gyirong ...

Singapore / DPA The contract to build a four-in-one rail and bus depot in Singapore- said to be the world’s first such facility – has been awarded to South Korea-based GS Engineering & Construction Corporation for around US$1.46 billion. The East Coast Integrated Depot will contain three train depots and one bus depot within a single site of 36ha. It ...

Bloomberg President Barack Obama is in Cuba, and Silicon Valley is tagging along for the ride. Executives from several technology companies are traveling with the U.S. president on his goodwill tour or introducing new business initiatives focused on the island—or both. Among the companies joining the Cuba parade this week are Google parent Alphabet Inc., Airbnb Inc., PayPal Holdings Inc., ...

Bloomberg A gauge of the dollar dropped, halting a two-day advance, as comments by Federal Reserve officials suggesting the central bank may raise interest rates as soon as next month failed to boost the U.S. currency’s appeal. The dollar weakened against most of its major peers as traders saw only a 10 percent probability of a U.S. rate hike in ...

Bloomberg Venezuela, owner of the world’s largest crude oil reserves, suddenly has a deep thirst for American oil. Petroleos de Venezuela SA, the state-owned oil company, has ordered millions of barrels of crude from the U.S. this year, according to published reports and data provided to Bloomberg, in a sign of how the lifting of the ban on U.S. oil ...

Bloomberg Coffee, which entered a bull market last week, may climb further this year amid increasing concern that global supply will continue to shrink because of El Nino-induced crop losses in South America and Southeast Asia, according to traders at an industry gathering. Worldwide demand may exceed output by as many as 4 million bags in the season that will ...

Bloomberg Chile, widely viewed as a model of stability and democracy in a region plagued by impropriety and upheaval, is facing a campaign funding scandal that has cast a shadow over politicians of all major parties. More than a year of revelations has helped drive to record lows the approval ratings of the government, President Michelle Bachelet, the Chamber of ...

ABU DHABI / WAM Aabar Investments PJS , an Abu Dhabi-based diversified investment company, agreed and signed a loan facility worth 3.6 billion euros with a lead syndicate of global banks. The five-year senior unsecured, non-guaranteed facility serves to refinance several of Aabar’s pre-existing facilities, and was arranged on tighter terms compared to previous facilities reflecting the company’s improved credit ...

ABU DHABI / WAM HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, attended the signing of an agreement between the Follow-Up Committee of the Initiatives of the UAE President and Arabtec Holding to build 1,100 housing units for Emiratis in Fujairah’s Mohamed bin Zayed City(MBZ) at a total cost of AED1.712 billion. The ...

ABU DHABI / WAM HH Sheikh Hamed bin Zayed Al Nahyan, Managing Director of ADIA, issued an open letter on the occasion of the Abu Dhabi Investment Authority(ADIA) celebrating its 40th anniversary: Over the course of the past four decades, ADIA has evolved from a small operation using shared office space to become one of the world’s largest and most ...