Bloomberg Nigeria’s Egbin power plant, the biggest in Africa’s most-populous nation, is owed 125 billion naira ($352 million) by the government and half of its output is wasted because of inadequate transmission infrastructure, its chief officer said. Out of the roughly 1,300 megawatts currently generated by the facility’s six units, which is close to full capacity, some 700 megawatts are ...

Bloomberg Honda Motor Co. agreed to pay $484 million to settle economic-loss claims tied to Takata Corp. air bag recalls, bringing total settlements over the faulty safety devices to more than $1 billion. The agreement will provide for faster replacement of recalled air bags and reimburse customers for out-of-pocket costs. The Honda deal follows a $533 million settlement with four ...

Bloomberg Vietnam wants to design and make cars for its 90 million motorbike and scooter riders. The country’s largest real-estate company Vingroup JSC said it plans to invest up to $3.5 billion to set up a manufacturing and research and development complex, aiming to roll out the first car in 24 months. The Hanoi-based developer will break ground on the ...

Bloomberg Indian billionaire Kumar Mangalam Birla is evaluating possible bids for Constellium NV and Aleris Corp. as his conglomerate seeks to grow its aluminum operations overseas, people with knowledge of the matter said. Deliberations are at an early stage, and Aditya Birla Group hasn’t yet decided whether to proceed with an offer for either business, according to the people. The ...

Bloomberg Asian buyers of liquefied petroleum gas are already paying for disruptions half a world away in Texas as record rainfall halted shipments of propane and butane from ports that handle more than 90 percent of US exports to the region. Marine export terminals operated by Enterprise Products Partners LP, Targa Resources Inc. and Phillips 66, all suppliers of the ...

Bloomberg North Korea said it successfully tested a hydrogen bomb with “unprecedentedly big power” on Sunday that can be loaded onto an intercontinental ballistic missile, in its first nuclear test under US President Donald Trump’s watch. The test, ordered by Kim Jong Un, was a “perfect success” and confirmed the precision and technology of the bomb, according to the Korean ...

Bloomberg President Donald Trump said he would discuss the future of the US-South Korea free-trade agreement with his advisers following a newspaper report that he’s considering terminating the pact. “I am,” Trump said in response to a question about whether he’s discussing the issue with advisers. “It’s very much on my mind,” the president said during a visit to Houston ...

Bloomberg India got a full-time defense minister after Prime Minister Narendra Modi shuffled his cabinet on Sunday, a move that may speed up acquisitions as the government spends $250 billion on everything from warplanes to submarines. Nirmala Sitharaman will be the nation’s second female defense minister, taking over the responsibility from Arun Jaitley, who had been handling the portfolio in ...

BEIRUT / Reuters Most of an IS evacuation convoy stuck in east Syria has crossed out of government territory and is no longer the responsibility of the Syrian government or its ally Hezbollah, the Lebanese Shi’ite group said. A US-led coalition fighting IS has been using warplanes to prevent the convoy from entering territory held by the extremists in east ...

Bloomberg Kenya faces an extended period of political and economic uncertainty after the Supreme Court tossed out the results of last month’s presidential election in a stunning decision that’s unprecedented in Africa. The judges ordered a new vote to be held within 60 days, opening an intense campaign at risk of being marred by violence. The news sparked celebrations in ...