Bloomberg SoftBank Group Corp. will raise about 1.2 trillion yen ($10.4 billion) from selling about a third of its domestic wireless arm, marking Japan’s biggest secondary share sale in a decade. The Japanese firm said it will sell SoftBank Corp. shares at 1,204.50 yen apiece. Including an over-allotment option, the group will raise about $11.6 billion in total from the …

Bloomberg South Africa’s main stock index gains 0.4% by 9:49 am in Johannesburg, advancing for the sixth consecutive day, the longest streak of gains since January, as signs of progress toward a virus vaccine lifts risk appetite, driving markets higher. More than 50% of the listed South African companies climb, with the four biggest stocks — Naspers Ltd., Anglo American …

Dubai / WAM The UAE ranked first among GCC countries in best medical tourism destination globally according to the US-based Medical Tourism Association. Oman ranked second and Bahrain came in at third, while Saudi Arabia and Kuwait were placed fourth and sixth respectively. The ranking in the index is based on a variety of factors, Association said and added that …

Bloomberg It was meant to be the week when the Organisation of Petroleum Exporting Countries (Opec) nations gathered in Baghdad to celebrate the cartel’s six decades as a dominant force in global oil markets. Instead, the Opec and its allies will convene online, and reflect on whether the coranavirus has thwarted their best efforts to keep the market afloat. After …

Dubai / WAM Dubai South Properties announced that investments in its first leasehold staff accommodation development, Sakany, have reached AED500 million, helping to position the project as a regional benchmark for safe and secure housing for blue collar workers. The welfare of residents is central to the Sakany project, reflected in its first-rate leisure facilities and well-equipped medical rooms. There …

Bloomberg Uganda’s planned oil pipeline will result in more than 12,000 families losing their land and the development threatens sensitive ecosystems, according to research by Oxfam International. The East African nation’s crude industry has “opaque processes” to compensate affected communities, the London-based charity said in a statement. Oil majors and the state should address the issues before the next stage …

Bloomberg Singapore Airlines Ltd is eliminating about 4,300 jobs, or 20% of its workforce, as the coronavirus outbreak devastates the aviation industry. The cuts will be made at Singapore Airlines and its SilkAir and Scoot units. Discussions are underway with unions and arrangements will be finalised as soon as possible, the carrier said in a statement. “Having to let go …

Bloomberg Two top Boeing executives have told US government investigators that the design process for the 737 Max was not flawed, despite the plane suffering two fatal crashes, according to the Wall Street Journal. Keith Leverkuhn and Michael Teal, who oversaw the development of the aircraft, didn’t concede any procedural mistakes, according to the article, which cited transcripts of closed-door …

Bloomberg A Colombian court temporarily blocked a $370 million government loan to Avianca Holdings SA after a citizen expressed concern about a lack of guarantees. The Cundinamarca Administrative Tribunal granted an injunction to suspend disbursement after a motion filed by a citizen against the Finance Ministry, the presidency and the airline said the loan, part of its debtor-in-possession financing, may …

Bloomberg Thai Airways International Pcl, the nation’s flagship carrier, faces one of its biggest challenges in its 60-year history, with a local court set to rule on its debt restructuring on Monday. The Central Bankruptcy Court will decide whether the airline can proceed with its plan to rehabilitate its debt. The company, which had total liabilities of 332.2 billion baht …