Bloomberg India’s government has approved scrapping a cap on foreign investment in commercial coal mining, a person with direct knowledge of the matter said, as part of efforts to boost economic growth. The change would allow overseas miners such as BHP Group Ltd and Glencore Plc to own 100 percent of mining companies. A spokeswoman at Commerce and Industry Ministry …

Dubai / WAM Singapore has announced its participation in Expo 2020 Dubai. The Singapore Pavilion, titled ‘Nature. Nurture. Future’, will pay tribute to Singapore’s journey towards growth, sustainability, and resilience. The Urban Redevelopment Authority (URA) will lead Singapore’s participation in the Expo which will run from October 20, 2020 to April 10, 2021, coordinating with partners from the public and …

Dubai / WAM A joint working team was formed to reinforce the strategic partnership between the UAE and Saudi Arabia in the housing sector, to provide unified housing services and launch joint projects, as part of the work of the Saudi-Emirati Coordination Council. The team is responsible for launching joint housing initiatives, performing studies and presen-ting propositions to the council’s …

Bloomberg BP Plc agreed to sell its entire business in Alaska to closely held Hilcorp Energy Co. for $5.6 billion, ending a six-decade presence in the state as oil production there declines. The deal includes BP’s operating stake in Prudhoe Bay, the largest-producing oil field in US history, as well as all its Alaskan pipelines. It makes Hilcorp, the oil …

Bloomberg China’s world-leading train maker CRRC has gained control of one-quarter of the European diesel-locomotive market in a single purchase costing less than 10 million euros. The acquisition of the Vossloh AG business provides China Railway Rolling Stock Corp. with a major toehold in a region where rail travel is ousting cars and planes faster than anywhere else. CRRC’s Zhuzhou …

Bloomberg The Swiss government aims to make the country climate neutral by 2050, stepping up its efforts to cut carbon emissions to fight global warming. Switzerland now plans to reduce its net carbon emissions to zero by 2050 to meet the target of limiting global warming to a maximum of 1.5 degrees Celsius, according to a statement on Wednesday. The …

Bloomberg US index futures edged higher, stocks in Europe slipped and shares in Asia were mixed on Wednesday as investors awaited new developments in the increasingly unpredictable Sino-American trade war. Treasuries and the dollar were steady. Contracts on all three major US stock indexes gained, while technology companies and insurers led a decline on the Stoxx Europe 600 index. Benchmarks …

Bloomberg Domestic UK stocks declined on growing anticipation of a no-deal Brexit after the British government sought to suspend parliament, while a weaker pound boosted the exporter-heavy FTSE 100 Index. The FTSE 100, which has moved inversely to the currency in recent years, climbed 0.3 percent in London, while the more UK focussed FTSE 250 Index lost 0.7 percent. Sterling …

Bloomberg Deutsche Bank AG’s only retail banking franchise outside Europe is getting more investment, amid sweeping cost cuts and restructuring taking place elsewhere at the German lender. After receiving a 470 million euro ($520 million) capital injection earlier this year, Deutsche Bank’s Indian operation is set to hire about 140 people and boost its retail banking and wealth management operations. …

Bloomberg The Australian central bank’s No. 2 official warned that current threats to the global rules-based trading system were a major risk to both his country’s economy and the world’s. Australia has been a key beneficiary of global trade, as its current account approaches its first surplus since the 1970s, Deputy Governor Guy Debelle said in Canberra. The local currency …