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  Bloomberg Oil snapped a four-day drop amid an outage on a major US pipeline and optimism over China’s reopening. West Texas Intermediate climbed as much as 4.8% in New York, surpassing $75. The Keystone oil pipeline, which can haul more than 600,000 barrels a day of crude from Canada into the US, was halted after spillage into a creek. ...

Bloomberg Mobile industry bellwether Murata Manufacturing Co expects Apple Inc to reduce iPhone 14 production plans further in the coming months because of weak demand, which would force the supplier to again cut its outlook for its handset-component business. “Judging by handset availability in stores, I see a downward revision happening,” Murata President Norio Nakajima said in an interview. “I ...

  Bloomberg Tesla Inc is offering further incentives to Chinese customers who buy and take delivery of new cars this month, in the latest move to boost sales in the world’s biggest electric vehicle market. Elon Musk’s EV pioneer will subsidise purchases by 6,000 yuan ($860) for Model 3 sedans and Model Y sports utility vehicles, which currently start at ...

Bloomberg VinFast, an electric carmaker backed by Vietnam’s richest man trying to take on Elon Musk’s Tesla Inc, has filed for an initial public offering in the US just as it prepares to deliver its first SUVs to California customers later this month. The unit of conglomerate Vingroup JSC, founded by Pham Nhat Vuong, is being advised by banks including ...

  Bloomberg Indian online-education provider Byju’s is seeking to restructure its $1.2 billion loan as it struggles with steep losses and cost reduction targets, according to people familiar with the information. The nation’s most valuable startup, valued at $22 billion, has appointed an adviser to discuss tweaks in covenants of the term loan B with creditors, the people said, asking ...

Bloomberg While this week’s drone attacks on Russian airfields that the Kremlin blamed on Ukraine were of largely symbolic value, Kyiv’s apparent readiness to take the war to Vladimir Putin may be constrained by nervousness among its allies over his potential reaction. The strikes at three airfields, including ones used on bombing missions against Ukraine’s civilian infrastructure, boosted morale among ...

Bloomberg Indian Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP) won a landslide election in his home turf Gujarat, showing his appeal with voters remains intact despite higher living costs. The victory in the western state of Gujarat will help the 72-year-old leader build momentum for national elections due in less than 18 months. Modi is looking to extend his ...

  Dubai / WAM The Mohammed Bin Rashid Space Centre (MBRSC) confirmed the new date for the launch attempt of the Emirates Lunar Mission. The inaugural launch of the Rashid Rover is now scheduled to take place on December 11, at 11:38 Gulf Standard Time (GST), or 02:38 Eastern US Time. The initial launch attempt was postponed, allowing SpaceX to ...

Abu Dhabi / WAM Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, has said that the UAE’s non-oil foreign trade grew by 19 percent by the end of the third quarter of 2022 to reach AED1.637 trillion compared to the same period last year. He also pointed out that the country’s total non-oil foreign trade during ...

Dubai / WAM DP World Logistics opened a new 6,000 square metre high-end warehouse at container freight station 2 (CFS 2), offering new storage solutions for customers at the Jebel Ali Free Zone (Jafza). The company’s CFS 2 warehouse offers a total of 12,500 pallet positions using very narrow aisle (VNA) racking systems, storing cargo up to 18 metres high. ...