Bloomberg Madagascar’s state power utility may become profitable by 2020 as the nation builds more solar plants to cut electricity-production costs, Energy Minister Lanto Rasoloelison said. The government is overhauling the state-owned power company, known as Jirama, with World Bank help as it seeks to provide universal electricity access by 2030 in a country where less than one in seven ...

Bloomberg The decision by a Chinese court to temporarily ban some sales by Micron Technology Inc. adds to a series of setbacks for the world’s chipmaking giants in their most important market. Micron, which has been caught up in dueling intellectual property lawsuits with United Microelectronics Corp., received a preliminary injunction from the Fuzhou Intermediate People’s Court in Fujian province ...

Bloomberg India raised purchase prices for crops such as cotton, soybeans and paddy rice to ensure farmers get at least 50 percent more than their production costs, a move toward fulfilling Prime Minister Narendra Modi’s pledge to double farm incomes by 2022. The minimum support price for monsoon-sown paddy rice for 2018-19 season was increased to 1,750 rupees ($26) per ...

Bloomberg Huawei Technologies Co. said a proposed ban on selling its gear to some US mobile providers isn’t lawful, pushing back against assertions it poses a risk as the Trump administration increases pressure on China over trade and national security. The Shenzhen-based networking giant’s presence in the US “has been artificially restricted by unfounded allegations and suspicions based solely on ...

Bloomberg China said that it wouldn’t implement tariffs ahead of the US on Friday, after previous arrangements put it on course to do so. “We will never fire the first shot and will not implement tariffs ahead of the US,” the Ministry of Finance said in a statement, after media reported that Beijing would start levying tariffs hours ahead of ...

Bloomberg Indians’ love affair with gold is cooling. Imports slumped more than 25 percent to 54 metric tons in June from a year earlier, a person familiar with the information said, asking not to be identified as the figures aren’t public. Overseas purchases plunged 40 percent to 343 tonnes in the first half from a year ago, according to data ...

Bloomberg China unveiled further details of its three-year environmental plan, reiterating its goal to reduce coal consumption and listing the cities where it’s targeting steel capacity curbs. Policy makers will promote natural gas use over coal in areas battling severe air pollution in the Beijing-Tianjin-Hebei region as well as Fenhe and Weihe river plains, according to three-year plan published by ...

Bloomberg HNA Group Co., the once-acquisitive Chinese conglomerate that’s been selling billions of dollars in assets this year amid soaring borrowing costs, said that Co-chairman Wang Jian died after an accident in Provence, France. He was 57. Wang, who was on a business trip, had a fall from which he couldn’t recover, HNA said in a statement on its website. ...

Bloomberg US lawmakers plan to pressure the Trump administration to closely scrutinise T-Mobile US Inc.’s planned purchase of Sprint Corp., arguing the acquisition poses a threat to American security because the owner of Sprint has ties to Chinese telecommunications company Huawei Technologies Co. A draft letter to Treasury Secretary Steve Mnuchin, who leads a US national security review of the ...

Bloomberg Failure to reach a Brexit deal would wreak havoc on British business, especially manufacturers that rely on just-in-time supply chains. That’s the view of Business Minister Richard Harrington, who in an interview defended the right of companies to openly voice their concerns. “It would be completely disastrous for business in this country,”Harrington said. Four months after Prime Minister Theresa ...