Reuters Egypt plans to end fuel subsidies within three years and is aiming to increase fuel prices to 65 percentof their actual cost during the 2016/17 fiscal year, two government sources said. Struggling to revive its economy after an uprising in 2011 shook investor confidence and drove tourists and foreign investors away, Egypt has been trying to cut spending ...

  Bloomberg PetroChina Co., the country’s biggest oil and gas producer, posted its smallest half-year profit since it was publicly listed in 2000 as the crash in oil prices continues to drag on earnings. Net income dropped 98 percent to 531 million yuan ($80 million), the state-run explorer said in a statement to the Hong Kong stock exchange on Wednesday. ...

  Bloomberg APA Group Ltd., Australia’s largest natural gas infrastructure business, is seeking to buy distressed pipelines that transport the fuel in the U.S., as it targets expansion opportunities overseas. The Sydney-based company that owns pipelines that transport over half of Australia’s natural gas supplies is seeking U.S. assets as operators there face increasing pressure over whether their contracts with ...

  Bloomberg Singapore is reviewing the rules for venture capital firms as it attempts to draw more capital to the country’s financial technology startups, according to the head of Singapore’s central bank. Though Singapore rivals other major fintech centers such as Silicon Valley, London or New York in terms of startup activity and innovation, it still lags behind in terms ...

  Bloomberg China Coal Energy Co. swung to a profit as it maintained steady sales while production and costs fell. Net income during the first half of the year was 225 million yuan ($34 million) from a 1.07 billion yuan loss a year ago, the Beijing-based coal producer said in a statement to the Hong Kong stock exchange. Revenue fell ...

  Bloomberg GLM Co., a Japanese automaker backed by former Sony Corp. Chief Executive Officer Nobuyuki Idei, said it’s close to winning its first deals to supply customized vehicle frames to companies seeking to produce electric cars. The Kyoto-based automaker is close to signing deals to supply vehicle platforms for about 10 carmakers, including some in China, founder and CEO ...

  Australia has a split personality when it comes to China: Government officials stress the importance of their strategic alliance with the U.S., even if it upsets Beijing. But business leaders argue that Australia must accommodate the reality of China’s overwhelming economic power in Asia. It’s an awkward straddle for Australia, as its security and economic interests diverge. “It has ...

Welfare reform may be the last great bipartisan success story. It was enacted in 1996 by a Republican Congress led by Newt Gingrich and by Democratic President Bill Clinton in response to decades of public frustration with the U.S. system of aid to the poor. At the time, the law had liberal enemies, some of whom resigned from Clinton’s administration ...

  When he talks about “rigged” elections and calls for voter-identification laws to prevent fraud, Donald Trump is squarely within the Republican mainstream. The party has made passing those laws one of its highest priorities in state after state. Yet as the evidence continues to show, the type of fraud that voter ID laws could prevent is basically non-existent. Now ...

  Investors are courting Africa like never before. The resource-rich continent, which has massive business potential, is turning into the new investment hub for many countries — with Japan and China taking the lead. Japanese Prime Minister Shinzo Abe is set to unveil aid and development projects at a conference in Kenya this weekend. He will meet business leaders to ...