Bloomberg Shanghai Pehchaolin Daily Chemical Co, a Chinese skincare company that owns the 89-year-old premium beauty brand Pechoin, is in talks with potential investors for a minority stake sale, according to people familiar with the situation. Shanghai Pehchaolin has received interest from prospective investors including some private equity firms, said the people, who asked not to be identified as the …

Bloomberg Saudi Arabia is set to sell about 600,000 barrels a day of crude to the US in April, the highest volume in a year, according to a Saudi industry official familiar with allocations to American refiners. The shipments, agreed with refiners as Saudi Arabia ramped up production to a record 12.3 million barrels a day this month, come at …

RIYADH / WAM The Houthi militia fired a ballistic missile against civilian targets in Yemen’s Ma’rib, Saudi Press Agency (SPA) reported. “The Houthi militia’s escalation of hostilities using ballistic missiles to deliberately target civilians and civilian objects underscores the militia’s denial of all efforts and initiatives of ceasefire and deescalation, the last of which was the initiative by the Joint …

Bloomberg The International Monetary Fund (IMF) is hoping more private commercial holders of African bonds will join a global push for debt relief as the continent faces a $44 billion shortfall in its fight against the effects of the coronavirus (Covid-19) pandemic. The IMF estimates that Africa needs $114 billion in 2020 to spend on health and social services that …

Bloomberg India put curbs on investments in its companies from neighboring nations including China, seeking to cut the risk of opportunistic takeovers as the coronavirus outbreak drives down valuations. A foreign investor from any country that shares a land border with India will now only be able to invest with government approval. At present, such restrictions apply only to FDI …

Bloomberg Wind turbine makers are finding it increasingly difficult to get parts they need to build their machines, snarling progress on a global shift toward renewables at precisely the time scientists say it needs to speed up. Manufacturers including Vestas Wind Systems A/S and Siemens Gamesa Renewable Energy SA are wrestling with their own factory shutdowns and disruptions to suppliers …

Bloomberg Crude prices in America’s oil capital are getting dangerously close to zero. Buyers bidding for crude in Texas, the birthplace of the shale revolution, are offering as little as $2 a barrel for some oil streams, a precipitous markdown from a month ago. The slumping value of physical barrels is raising the possibility that Texas producers may soon have …

Bloomberg TC Energy Corp’s Keystone XL oil-sands pipeline was a dealt a setback with a judge’s ruling that the US Army Corps of Engineers improperly approved a streamlined permit process without fully evaluating the impact on endangered species. In a legal challenge brought by environmental groups, a federal judge in Montana ordered the agency to conduct further review and barred …

Bloomberg Chinese refiners are snapping up low-price oil from all over the world as Asia’s largest economy emerges from a virus-driven slump. Varieties such as Alaska North Slope, Canada’s Cold Lake and Brazil’s Lula have been offered at steep discounts to global benchmark prices as sellers scrambled to secure buyers. Processors in China — where throughput is back to pre-virus …

Bloomberg Austria became the second European country to eliminate coal power from its electricity grid and said it’s looking towards renewable energy to fuel future economic growth. Verbund AG closed its Mellach coal-fired district heating plant about 200 kilometres (124 miles) south of Vienna, the state-controlled utility said. Austria’s Environment and Infrastructure Ministry said eliminating coal will strengthen the country’s …