Bloomberg SoftBank Group Corp.’s Vision Fund will invest 460 million euros ($560 million) in Auto1 Group GmbH, valuing the German used-car sales portal at about 2.9 billion euros. Auto1 will use the funds to introduce its service that helps private car owners sell their vehicles in new countries, expand a fintech venture that provides car dealerships with loans, and give ...

Bloomberg If the resilience of emerging markets to rising interest rates is all about the growth outlook, then data from China this week will be key. The country, the world’s biggest emerging market, releases gross domestic product statistics. Less than a week after Angola abandoned its dollar peg, another African nation— Morocco —is due to make good on a promise ...

Bloomberg India’s proposal to curb drug prices by stripping generic medicines of their brand names has stalled after the plan faced pushback from the country’s pharmaceutical companies, according to people with knowledge of the matter. The Draft Pharmaceutical Policy circulated in 2017 by the Department of Pharmaceuticals has made no progress since opposition emerged from the industry and among some ...

Bloomberg Hong Kong retained its title as Asia’s most expensive rental city for expatriates, while Singapore fell further down the ranking due to a slower economy and fewer relocations, according to consultancy firm ECA International. Hong Kong sat atop the list with an average price of $10,461 per month for an unfurnished, three-bedroom apartment in expatriate neighbourhoods, according to results ...

Bloomberg Saudi Arabia’s sovereign wealth fund is in talks to buy a stake in Endeavor, the holding company for Hollywood talent agency WME, people familiar with the matter said. The Public Investment Fund, known as PIF, is in preliminary discussions to invest more than $500 million, which will help the talent agency for Ben Affleck and Matt Damon expand its ...

Bloomberg Saudi Arabia expects to start up to $7 billion of renewable energy projects this year, with solar plants leading the way. Tenders will be issued this year for eight projects totaling 4.125GW of capacity, Turki Mohammed Al Shehri, head of the kingdom’s Renewable Energy Project Development Office, said on Tuesday in an interview in Abu Dhabi. The cost will ...

Bloomberg Oil reached new highs in London as OPEC members called for output curbs to continue, allaying concerns that the recent rally could weaken their commitment. Brent crude closed above $70 a barrel for the first time in three years after Iraqi Oil Minister Jabbar al-Luaibi said that production curbs have contributed to stability in the market and should remain, ...

Bloomberg Husky Energy Inc., the best oil-sands stock last year, may emerge as a top pick for investors who are looking to capitalize on surging crude prices and already have shares of the largest Canadian producers. The company controlled by Hong Kong billionaire Li Ka-Shing is the cheapest stock among six producers in North America that also own refineries, trading ...

Bloomberg Royal Dutch Shell Plc is investing in a US solar energy developer, continuing its recent expansion into the electricity business. The Anglo-Dutch oil and gas producer will acquire a 44 percent stake in Nashville’s Silicon Ranch Corp., which owns and operates about 100 solar facilities across the US. The investment could be as high as $217 million in cash, ...

Reuters India’s Reliance Industries has declared a 30 percent increase in the installed capacity of its export-focussed oil refinery, a government report showed, increasing the size of the world’s largest refinery complex. India’s Petroleum Planning & Analysis Cell (PPAC) in its October report showed 35.2 million tonnes a year as the installed capacity of Reliance’s refinery in the special economic ...