Bloomberg Saudi Arabia’s sovereign wealth fund is nearing an agreement to buy about a 10 percent stake in ACWA Power International ahead of an initial public offering by the Riyadh-based energy producer, according to people with knowledge of the matter. The Public Investment Fund, known as PIF, may sign an agreement with the power plant developer in the coming days, ...

Bloomberg Saudi Arabia kept pricing for its main crude grade to Asia unchanged for a second month as the world’s largest crude exporter responds to slower seasonal demand. State-owned Saudi Arabian Oil Co., known as Saudi Aramco, set the official pricing for Arab Light crude to Asia at a premium of $1.65 a barrel more than the regional benchmark, it ...

BEIJING / Reuters China’s natural gas production is rising at the fastest pace in four years but that will not be enough to meet the demand for the fuel that has been unleashed through a government program to raise gas usage in order to clean the country’s polluted air. Gas output in China rose to a record 147.4 billion cubic ...

Bloomberg Oil and Natural Gas Corp. is facing a delay of at least a year in starting production from its biggest project, according to people with knowledge of the matter. The nation’s top explorer, which planned to produce gas from a deep water block in the Krishna-Godavari Basin off the country’s east coast from June 2019, won’t produce first gas ...

Bloomberg Oil’s rally is unraveling on fears over a rise in US production after crude’s best January in more than a decade. Futures in New York are extending declines for a second session as Baker Hughes data showed American explorers last week raised the number of rigs drilling for crude to the highest in almost six months. Short-sellers betting against ...

Bloomberg Nissan Motor Co. intends to spend 1 trillion yen ($9 billion) over five years in China as it vies to become the largest global electrified vehicle maker in the country. The Japanese carmaker aims to raise annual deliveries by 1 million units by 2022, with much of the growth coming from electrified models, Jun Seki, head of Nissan’s China ...

Bloomberg Lee Jae-yong is once again a free man following a surprise ruling on Monday from a Seoul court that suspended a prison sentence for bribery. Yet, for many in South Korea the Samsung heir’s victory is a setback to President Moon Jae-in’s pledge to curtail the power of the chaebol, the family-run businesses that have dominated the economy for ...

Bloomberg Chinese developers are driving convertible bond sales in Hong Kong as analysts warn of a stock price correction. Seven Chinese companies have sold HK$41.8 billion ($5.3 billion) of the hybrid securities this year, surpassing previous full-year totals, according to data compiled by Bloomberg. Led by China Evergrande Group’s record sale this week, five developers have priced convertibles, which typically ...

Bloomberg Indonesia’s economy grew slightly better than expected last quarter, supported by a pick-up in exports while consumer spending continued to disappoint. Stocks and the currency pared losses. Gross domestic product rose 5.2 percent in the fourth quarter from a year earlier. The median estimate of 17 economists surveyed by Bloomberg was 5.1 percent GDP fell 1.7 percent from the ...

Bloomberg Over decades, Toyota Motor Corp. built a corporate culture that was the envy of the manufacturing world. Now the auto industry’s most-emulated company is overhauling the way it brings its vaunted production system to every corner of the business. The automaker in January created a single group, staffed with 200 employees, to manage the Toyota Production System, centralising a ...