Bloomberg Egypt signed an expanded $3.2 billion financing deal with foreign banks, the central bank governor said, as it continues to bolster foreign reserves and prepare for about $14 billion of foreign debt repayments in 2018. The repurchase transaction, signed in November 2016 for one year, was increased from $2 billion, Tarek Amer said in an interview, without saying whether ...

Bloomberg The most abundant element may supply almost a fifth of global energy by 2050 and eliminate enough emissions to cancel out all the pollution in the US, according to a group of industrial companies from Royal Dutch Shell Plc to Toyota Motor Corp. Fuel-cell vehicles running on hydrogen, extracted from water using wind and solar power, may be used ...

Bloomberg The world’s worst polluter is leading the clean energy revolution, according to the International Energy Agency. China will account for a third of new wind and solar power installations and 40 percent of electric vehicle investments through 2040, the Paris-based agency said on Tuesday in its World Energy Outlook. Meanwhile, the country’s coal use peaked four years ago and ...

Bloomberg Solar manufacturers are being battered by higher costs and smaller margins, after an unexpected shortage of a critical raw material. Prices of polysilicon, the main component of photovoltaic cells, spiked as much as 35 percent in the past four months after environmental regulators in China shut down several factories. That’s driving up production costs as panel prices continue to ...

Bloomberg Sugar production in India is set to bounce back from a seven-year low as the area planted to cane increases and rain boosts yields in the world’s top consumer. Production may total 25.886 million metric tons in the crop year that began on October 1, according to SGS SA, a researcher hired by Bloomberg to survey farmers during September ...

Bloomberg Amazon.com Inc. agreed to sell some of its Chinese cloud assets to its local partner but said it’s committed to a domestic market for internet-based computing that could be worth $30 billion. Beijing Sinnet Technology Co. will buy servers and other unspecified “operational assets” in the country’s capital from Amazon Web Services for as much as $302 million, it ...

Bloomberg Hon Hai Precision Industry Co. posted a surprise fall in earnings amid technical hiccups that disrupted production of Apple Inc.’s 10th-anniversary iPhone. Apple’s main device-assembler reported a decline in net income to $696 million in the three months ended in September. That compared with the NT$37.2 billion projected. Apple’s decision to adopt technically demanding facial-scanning sensors for the iPhone ...

Bloomberg The first default on US dollar bonds by an Indian company in 15 months may become a closely-watched test case for how international creditors will fare under the country’s new bankruptcy laws. Reliance Communications (RCom), the Indian mobile phone operator controlled by Anil Ambani, failed to pay a coupon on its 2020 dollar notes before the expiry of a ...

Bloomberg The euro-area economy maintained its solid pace of expansion in the third quarter, keeping it on track for its best annual performance in a decade. Gross domestic product rose 0.6 percent in the period, unchanged from a flash estimate, the European Union’s statistics office said on Tuesday. In Germany, the region’s largest economy, expansion accelerated to 0.8 percent, while ...

Bloomberg Vodafone Group Plc reaped a payoff from its network build-out in Europe, taking the rare step of raising its profit forecast as customers choose costlier data plans. The shares rose after the carrier almost doubled its outlook for earnings growth and reported second-quarter results that beat expectations on strength in most markets. Vodafone is benefiting as consumers opt for ...