Bloomberg Hong Kong’s old Kai Tak airport was famed for its hair-raising landings, as planes skimmed apartment rooftops before touching down just minutes from bustling Kowloon. Now, the site is morphing into one of the city’s biggest real estate developments with multi-million dollar apartments slowly filling up even as new parcels of land go for record prices. China Resources Land ...

Bloomberg The heaviest downpour since 2005 inundated Mumbai, delaying trains and planes and spurring the city administration to declare a holiday. Flights to Mumbai were delayed, diverted or cancelled after a Boeing Co 737 aircraft operated by SpiceJet Ltd overshot the runway amid heavy rains. Precipitation over the past 24 hours was the second-heaviest on record, said KS Hosalikar, deputy ...

Bloomberg Moody’s Investors Service’s India unit has put its chief on leave amid a probe into a controversial rating decision, in the latest sign of trouble in the nation’s credit evaluation industry. ICRA Ltd’s board has decided to place Chief Executive Officer Naresh Takkar on leave, the company said in an exchange filing. The rater is examining concerns raised in ...

Bloomberg Embassy Group, an Indian real-estate developer, that has partnered with Warburg Pincus, has spotted a winner in India’s e-commerce slug-fest: logistics. Embassy is looking to build warehouses and industrial parks near eight big Indian cities that can store goods for retail giants as billionaires including Asia’s richest man, Mukesh Ambani and Amazon.com Inc’s Jeff Bezos clash for dominance in ...

Bloomberg India will continue to be a net importer of steel for at least the next two years as high-grade products from South Korea and Japan flow in tax free amid worries of escalation in supplies from China, according to Fitch Ratings Ltd’s local unit. Overseas purchases by India totalled 7.8 million tons imported in the year ended on March ...

Bloomberg Tencent Holdings Ltd and Paytm plan to invest about $100 million in Indian streaming service MX Player, according to a person familiar with the matter, as local and foreign companies compete for a piece of the country’s burgeoning online video market. The WeChat operator and Paytm are in the final stages of discussions but specific terms may still change, ...

Bloomberg A leading US retail group, whose members include Walmart Inc, is eager to aid antitrust enforcers that are poised to investigate whether Amazon.com and Alphabet’s Google are harming competition. The Retail Industry Leaders Association (RLIA), which also represents Target Corp and Best Buy Co among others, said it’s prepared to present their concerns to the Justice Department and the ...

Bloomberg European Union countries won’t ratify a free-trade deal with South America if Brazil doesn’t take measures to achieve the greenhouse gas emissions targets it agreed to in the 2015 Paris climate accord, French Ecology Minister Francois de Rugy said. Top EU officials reached a breakthrough in market-opening negotiations with counterparts from the Mercosur group of Argentina, Brazil, Paraguay and ...

Bloomberg UK house-price growth remained subdued last month as values in London and the southeast continued to fall, according to Nationwide Building Society. June saw a year-on-year increase of just 0.5 percent, a seventh straight month below 1 percent. That compares with increases of around 2 percent a year earlier. The uncertainty arising from Britain’s departure from the European Union ...

Bloomberg Sweden’s main employer group is preparing to defend the key pillar of the Nordic country’s labour market against a brewing union wage rebellion. The deal setting industrial workers salaries as a benchmark for overall wages is crucial in maintaining Sweden’s welfare state and is the envy of competitors, according to Fredrik Persson, chairman of the Confederation of Swedish Enterprise. ...