Bloomberg Angola is targeting an increase of about 250,000 barrels a day in oil output by 2020 and is already in discussions with oil majors Exxon Mobil Corp. and Equinor ASA to achieve this, said Sonangol’s Chairman of the Board Carlos Saturnino. New energy legislation and more favourable investment terms have already spurred interest from international operators, including Chevron Corp. ...

Bloomberg The Republic of Congo expects to raise oil production by as much 65 percent this year as two new projects come on stream, Hydrocarbons Mi- nister Jean-Marc Thystere-Tchicaya said. Congo joined OPEC and plans to open up its oil industry, which the government says is dominated by Total SA and Eni SpA, to new investors. Sub-Saharan Africa’s third-biggest oil ...

Bloomberg A Mumbai train commuter who witnessed an accident earlier this month, turned to his smartphone to ask neighbors how to help a bleeding victim. Responses poured in instantaneously. Take him to the station master at the next stop; ask the ticket collector for first aid; call 138 for emergency help and so on. Not long after, the commuter posted ...

Bloomberg Meituan Dianping, the world’s fourth-most valuable startup, filed for an initial public offering in Hong Kong and revealed the scope of its losses for the first time. While the company didn’t disclose how much it was planning to raise from the stock sale, it unveiled a net loss of $2.9 billion last year on revenue of 33.9 billion yuan, ...

Bloomberg Billionaire Jack Ma has declared Bitcoin a potential bubble, reiterating his caution over the volatile crypto-currency as his Ant Financial launched blockchain-based money transfers between Hong Kong and the Philippines. The founder and chairman of Alibaba Group Holding Ltd. extolled the possibilities of the decentralised ledger on which Bitcoin is based but warned that the digital currency itself may ...

Bloomberg Farmers in Australia, the world’s biggest exporter of chickpeas, have halved their plantings after the nation’s top customer hiked tariffs to levels that rendered the trade untenable, according to an industry association. India imposed a 30 percent import tariff on chickpeas in December before increasing it to 40 percent in February and to 60 percent in March. The country ...

Bloomberg Thailand will seek bids in the fourth-quarter for a $5.5 billion high-speed rail project that’s part of a wider plan for a train network to China. The bidder will build the first half of the network in Thailand, Minister of Transport Arkhom Termpittayapaisith said. His ministry expects to receive detailed designs this month from China, its partner for the ...

Bloomberg US stocks slid to three-week lows as President Donald Trump’s threats of more trade protectionism against major partners were met with Chinese and European vows of retaliation, rattling global equities and sparking demand for the safety of bonds. The S&P 500 Index fell to the lowest since May, with technology shares leading declines on reports the US Treasury Department ...

Bloomberg A boost from the Bank of England, spoilt in no time by Brexit gloom — this has been a recurring pattern for the pound of late. This week may be no exception. While a hawkish surprise out of Thursday’s BOE meeting — namely, Chief Economist Andy Haldane’s shift of stance in favour of raising interest rates — gave the ...

Bloomberg KKR & Co.’s leveraged buyout of Toys ‘R’ Us is coming under scrutiny by state pension funds that are questioning the private equity firm’s role in the bankruptcy of the world’s largest toy retailer. The Minnesota State Board of Investment decided to temporarily halt future commitments to KKR as it reviews the investment, while the Washington State Investment Board ...