Bloomberg Indonesian President Joko Widodo is on a mission to save billions of dollars lost to Jakarta’s notorious traffic congestion. Widodo, known as Jokowi, held a cabinet meeting and ordered officials to tackle the worsening traffic bottleneck in the Greater Jakarta area that authorities estimate causes about 65 trillion rupiah ($4.6 billion) of annual economic losses. The president also asked ...

Bloomberg HNA Group Co sold a building in Manhattan to help ease the embattled conglomerate’s debts and stave off US concerns about a Chinese company owning property near Trump Tower. HNA completed the sale, the group said in a statement, without providing details. Bisnow reported earlier that investor and real estate developer Jacob Chetrit and his sons bought the tower ...

Bloomberg Siemens AG and Alstom SA are pushing ahead with the sale of train-equipment assets in a bid to salvage their rail merger amid European Union antitrust scrutiny, people with knowledge of the matter said. Companies including Hitachi Ltd, Wabtec Corp, Switzerland’s Stadler Rail AG and Thales SA submitted offers by a deadline earlier this month, the people said, asking ...