Bloomberg Algeria’s former ruling party won the most seats in parliamentary elections as all-time low turnout showed deep skepticism over promises of a “new Algeria” after two years of unrest in the Opec member. Participation was about 23% in the vote, which delivered 105 of 407 parliamentary seats to the National Liberation Front (FLN) after protesters and more than a ...

Bloomberg Malaysia’s king has urged parliament to reconvene as soon as possible amid growing public anger over the government’s handling of the pandemic that has left democracy suspended all year. The statement from the national palace on Wednesday followed a meeting of the country’s royal leaders chaired by King Sultan Abdullah Sultan Ahmad and comes as daily Covid-19 infections averaged ...

Bloomberg North Korean leader Kim Jong-un said the country’s food situation is “getting tense” due to typhoons last year that wiped out crops, comments that underscored farm-sector shortfalls made worse by his decision to close borders to prevent Covid. Kim told a plenary meeting of the Central Committee of his ruling Workers’ Party of Korea “the agricultural sector failed to ...

Bloomberg Indonesia warns of aftershocks and a possible tsunami after a 6.1-magnitude quake hit the Maluku islands, a key nickel production area. Those living along the coastlines of Japutih and Apiahu on Seram island, Maluku, should stay vigilant, the meteorological, climatological and geophysical agency said in a statement on Wednesday. Residents are told to move away from the shoreline towards ...

Bloomberg Billionaire Mukesh Ambani’s plan to conquer the Indian market with a locally assembled Google-powered smartphone is facing headwinds, with supply-chain disruptions and rising component prices suppressing production volumes, people familiar with the matter said. Ambani’s Reliance Industries Ltd originally envisioned sales in the hundreds of millions in the first years for the inexpensive device but now targets a small ...

Bloomberg Mark Zuckerberg’s approval among some Facebook Inc employees has slipped, dislodging him from Glassdoor’s ranking of the Top 100 CEOs, a list he’s been on annually since 2013. Zuckerberg put on his game face to convince a skeptical Congress that his company’s ambitious plans for a cryptocurrency will benefit millions of poor and underbanked people around the world, and ...

Bloomberg KKR & Co is considering a sale of Marelli Corp’s suspension systems business as the private equity firm shifts the focus of the car parts company towards more profitable products, according to people familiar with the matter. The buyout firm is working with an adviser on the potential disposal, which has drawn preliminary interest from private equity and strategic ...

Bloomberg Lordstown Motors Corp jumped after saying it has enough money to make its battery-powered trucks through May of next year, paring a record decline the previous day following the departure of two top executives. The automaker is actively raising additional funds and has reconfirmed orders for its debut vehicle, President Rich Schmidt said at an Automotive Press Association event ...

Bloomberg Swedish steelmaker SSAB AB is teaming up with Volvo Cars to develop fossil-free steel for use in the automotive industry. Volvo Cars will be the first carmaker to secure the greener steel, SSAB said in a statement on Wednesday. Volvo Cars will use the material for testing and possibly in a concept car, it said. For the automaker, the ...

Bloomberg The first megawatts of electricity was expected to flow between Norway and the UK on Wednesday along the longest submarine power cable in the world. Once fully operational Britain is expected to import supplies of low carbon power on a regular basis. Tests on the 1,400-megawatt, 450-mile long cable will be complete in time to transport power from Norway’s ...