Bloomberg Indian stocks rose as favourable initial results for a second Covid-19 vaccine fanned optimism of an exit from the pandemic. The S&P BSE Sensex climbed 0.7% to 43,959.75 in Mumbai, while the NSE Nifty 50 Index advanced by the same magnitude. Both gauges extended gains from all-time high closing levels. Strategists at brokerages including Goldman Sachs, Morgan Stanley, and ...

Bloomberg Japan’s Nikkei 225 Stock Average may surpass 30,000 yen by the end of next year as corporate earnings improve amid an easy monetary policy and overseas demand for equities, according to a strategist at Daiwa Securities Co. Companies will post profits in fiscal 2021 as people and companies adapt to life with coronavirus, vaccines are developed and economic activity ...

ABU DHABI / WAM The Federal Authority for Nuclear Regulation (FANR), of the UAE and the Nuclear and Radiological Regulatory Commission (NRRC), of Saudi Arabia convened a meeting to explore and strengthen mutual collaboration. Both parties discussed potential cooperation in regulatory aspects related to nuclear safety, nuclear security, nonproliferation, legal and regulatory framework, emergency preparedness and response. The meeting was ...

Bloomberg Oil rose in New York as Moderna Inc reported its Covid-19 vaccine is highly effective against the virus. Moderna’s shot had 94.5% efficacy in a preliminary analysis of a large, late-stage clinical trial. That followed similar positive news for a vaccination being developed by Pfizer Inc. last week, buoying risky assets globally. The full impact of a vaccine on ...

Bloomberg South Korea’s two biggest airlines plan to merge, with Korean Air Lines Co acquiring Asiana Airlines Inc for 1.8 trillion won ($1.6 billion) following an injection via its parent, Hanjin Kal Corp. The main goal of the acquisition is to stabilise South Korea’s aviation industry amid the coronavirus pandemic and improve its competitiveness, said Hanjin Group, which operates airlines ...

Bloomberg Reliance Retail Ventures Ltd acquired a 96% stake in Urban Ladder, an online furniture seller for 1.82 billion rupees ($24.4 million), expanding the company’s reach in the world’s second-most populous nation. The unit of Reliance Industries Ltd plans to invest a further 750 million rupees in the next three years, it said in a statement. It also said it ...

Bloomberg SM Investments Corp, the owner of the Philippines’ largest mall operator, is speeding up efforts to develop “omni-channel” options for shoppers as people shift to a mix of online and in-store purchases amid the coronavirus pandemic. The group is tapping personal shoppers, ramping up delivery and pick-up services, and boosting its online presence, said Steven Tan, president of SM ...

Bloomberg Walmart Inc is selling most of Japanese retailer Seiyu to KKR & Co and Rakuten Inc in a deal that values the supermarket chain at 172.5 billion yen ($1.6 billion), as the US giant retreats from its two-decade attempt to crack Japan’s retail market. Under the agreement, private equity fund KKR will become the majority owner with a 65% ...

Bloomberg American Airlines Group Inc said it’s reducing flights from major US airports to London next month due to low demand, damping hopes that the holiday season would facilitate a recovery in travel. The airline will stop London flights from New York, Chicago and Charlotte, North Carolina, in December. Passengers can travel to London via its partner British Airways from ...

Bloomberg Online searches for flights from Hong Kong to Singapore surged 300% within three hours of the announcement an air travel bubble would open between the two financial hubs on November 22, according to Trip.com. Searches for Singapore to Hong Kong flights jumped 200%, and volume climbed for hotels in both cities as well, the online travel services provider said. ...