Panama City, Panama / AFP With its capacity boosted by nearly three times, Panama’s enlarged canal — set to be inaugurated on Sunday — is expected to stimulate trade between the United States and Asia, and steal business from the rival Suez canal. “A good deal of the commerce between Asia and the east coast of the United States can ...

  Bloomberg Colombia’s central bank raised its benchmark interest rate for a 10th consecutive month as consumer prices rose at the fastest pace since 2001 — while Finance Minister Mauricio Cardenas signaled that the tightening cycle was now over. In a majority decision, the seven-member board voted to raise the key rate a quarter-point to 7.5 percent, central bank Governor ...

  Bloomberg PG&E Corp.’s plan to shut California’s last nuclear power plant by 2025 would cost $15 billion if all its output is replaced with solar-generated electricity at current prices. Actual costs could be lower because the company expects to compensate for lower demand and replace only part of the production, energy policy analyst Rob Barnett said in an interview. ...

  Bloomberg U.S. drivers are burning gasoline at a record pace as they take advantage of the lowest prices at the pump in more than a decade this summer. Consumption has risen 3.9% from a year ago, while the average retail price for the motor fuel has tumbled 17%, according to data released by the Energy Information Administration and AAA. ...

  Bloomberg Ahmad Chatila, chief executive officer of bankrupt clean-energy giant SunEdison Inc., resigned on Weddnesday. SunEdison appointed John Dubel, the company’s chief restructuring officer since late April, to replace Chatila, according to a statement on Wednesday. Dubel joined SunEdison shortly after it filed for bankruptcy protection, listing $16.1 billion in liabilities. Chatila was the architect of a massive clean-power ...

Bloomberg Twilio Inc., the maker of mobile and web applications backed by Bessemer Venture Partners, raised $150 million in its initial public offering, pricing the shares above the marketed range. The San Francisco-based company priced 10 million Class A shares at $15 each, according to a statement on Wednesday, after offering them for $12 to $14 apiece. The shares will ...

  In opening up sectors from aviation to defense to 100 percent foreign ownership this week, India’s government is clearly hoping to signal that its reform drive is revving up again. Next on the agenda may be one of the most far-reaching new measures in years: a long-awaited, nationwide goods-and-services tax, or GST. India’s Aspirations Sceptics have reason to roll ...

  Since the middle of 2014, cyberattacks by China-based hacking groups against the U.S. government and private sector have declined, according to a June 2016 analysis by the U.S. cybersecurity firm FireEye. A FireEye team reviewed the activities of 72 hacking groups purportedly operating out of China or supporting Chinese state interests from the beginning of 2013 to June 2016. ...

  Shah Meer SPECIAL TO EMIRATES BUSINESS The China-Pakistan Economic Corridor (CPEC) has attracted attention all over the world. Politicians and analysts say CPEC will reshape the geopolitics of the region and bring unprecedented economic development to Pakistan. For China, CPEC is a vital part of its much larger One Belt, One Road (OBOR) initiative, a game-changing project which aims ...

  London / Agencies Tesco Plc reported a second straight quarter of UK sales growth, the first time it’s done so in five years as the grocer’s turnaround gathers momentum. Excluding fuel, UK same-store sales rose 0.3 percent in the 13 weeks to May 28, Britain’s largest retailer said on Thursday. That compares with the median of 13 analysts’ estimates ...