Bloomberg Savola Group, Saudi Arabia’s largest food products company, is in talks to buy sweets and confectionery maker Sanabel Al-Salam in a deal worth $300mn, sources said. Savola, which owns supermarket chain Panda, is keen to increase the quality and variety of its sweets offering, said the sources, who declined to be named as the matter was not public. Talks ...

Bloomberg Royal Dutch Shell Plc and its partners Eneco Holdings NV and Mitsubishi Corp. are seeking to sell a stake in two Dutch offshore wind-farm projects that may cost $1.4 billion to develop, two people familiar with the plan said. The companies are looking to reduce their ownership in the Borssele III and IV wind farms by as much as ...

Reuters Bahrain-listed Investcorp aims to invest in companies that support oil giant Saudi Aramco and is also eyeing healthcare and education assets being sold in Saudi Arabia’s privatisation drive, its executive chairman said. The private equity and alternative asset firm, which has offices around the world, aims to more than double investments to $50 billion in five years by expanding ...

Bloomberg A push to use more natural gas by the world’s fastest-growing oil guzzler is getting a boost from an unlikely source: the nation’s gasoline and diesel makers. India’s top three state-owned oil refiners are planning to use their gasoline and diesel fuel outlets to sell compressed natural gas for vehicles, increase investments in city-gas distribution projects and expand use ...

Bloomberg As India’s Tata Consultancy Services Ltd. is squeezed by the Trump administration to reduce the use of overseas workers for US jobs, the information technology outsourcing giant is also fighting claims in court that its hiring practices are anti-American. TCS, Asia’s largest software maker, and Infosys Ltd., a rival Indian outsourcing firm, are both embroiled in civil rights lawsuits ...

Bloomberg Ola scored $2 billion in new funding from a group of investors including SoftBank Group Corp. and Tencent Holdings Ltd., a person familiar with the matter said, helping bankroll Uber Technologies Inc.’s fiercest rival in India. Other backers in the ride-hailing startup’s latest financing round included a venture capital fund jointly run by Indian industrialist Ratan Tata and the ...

Bloomberg Mobike and Ofo investors are in early talks to push China’s two largest bike-sharing startups into a merger, aimed at ending a costly competitive battle and creating a single dominant player in the fast-growing business, according to people familiar with the matter. Investors in both companies have been holding talks to sort through issues such as how to split ...

Bloomberg While connoisseurs in developed nations jaded by chocolate’s ubiquity seek out bars that are unique in provenance, aroma and texture, aspiring consumers in large swaths of Asia are still developing their taste for the treat. In China, for example, “chocolate is not fully part of the diet and preference,” according to Niels Boetje, the managing director for the Asia ...

­­­­­­­­­­­Bloomberg Facebook Inc. outlined plans to strengthen its advertisement systems and disclosed that about 10 million people saw ads linked to Russian efforts to influence the 2016 US presidential election. The social media giant said it will add more than 1,000 people to review the ads that run on its platforms. Additionally, the company said it provided information on about ...

Bloomberg The UK will leave a $23 billion hole in the European Union’s budget unless the bloc agrees to give Theresa May the sweeping Brexit trade deal she wants, according to senior British officials. Britain won’t fulfill May’s offer to cover the UK’s share of the EU budget through 2020 without a broader Brexit deal, said the officials, speaking on ...