April, 2018

• 14 April

  Instagram to allow users download their data

  Reuters Facebook Inc’s Instagram will soon allow its users to download a copy of all the content they have uploaded on the photo-sharing platform, a spokesman said. The disclosure comes amid global concerns about the privacy of users’ information on social media platforms and the amount of user data that companies keep. While Facebook has allowed its users to download ...

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• 14 April

  OPEC near ‘mission accomplished’ as global oil glut vanishes, says IEA

  

  Bloomberg OPEC is on the verge of “mission accomplished” in its quest to clear the global oil glut that caused the worst industry downturn in a generation, the International Energy Agency said. Less than 10 percent of the surplus in oil inventories remains, as OPEC and its partners have cut production by even more than they intended while world demand ...

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• 14 April

  Italy’s Eni defies sceptics, plans raising stake in nuclear fusion project

  

  MILAN / Reuters Italian energy group Eni is considering stepping up its investment in nuclear fusion, potentially doubling down on a technology considered so uncertain that Eni remains the only global oil company prepared to place a bet on it. Eni and bigger rivals such as Shell and BP have been looking at moving into renewable energy as climate change, ...

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• 14 April

  Iraq delays oil auction after late contract tweaks

  Bloomberg Iraq delayed an international auction of rights to 11 of its oil and natural gas deposits, pushing back the bidding date after introducing changes to the contract, according to people familiar with the matter. The oil ministry re-scheduled the auction for April 25, said one of the people, who asked not to be identified because the information isn’t public. ...

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• 14 April

  China’s March crude imports 2nd highest on record

  

  BEIJING / Reuters China’s March crude oil imports climbed from a month earlier to the second highest on record, calculated on a daily basis, as refiners replenished stocks on generous government quotas and ahead of peak maintenance season. March shipments came in at 39.17 million tonnes, or 9.22 million barrels per day (bpd), the General Administration of Customs said. That ...

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• 14 April

  Indian business tycoons offer to invest $192 million in Fortis chain

  

  Bloomberg Fortis Healthcare Ltd. said it has received a joint investment proposal from two Indian business families, intensifying a race to gain control of the country’s second-largest private hospital chain. Hero Enterprise Investment Office and the Burman Family Office have made a binding offer to invest a total of 12.5 billion rupees ($192 million) through a preferential share allotment at ...

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• 14 April

  Ambani’s Jio set to roil broadband after jolting rivals

  

  Bloomberg Billionaire Mukesh Ambani’s plan to roll out broadband internet services to Indian households this year under Reliance Jio Infocomm Ltd. has the potential to alter the segment’s competitive landscape, credit rating company S&P Global Ratings says. The new service may add $5 billion to parent company Reliance Industries’ valuation, according to CLSA India. The brokerage firm anticipates a $611 ...

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• 14 April

  Ex-Googler’s Chinese e-comm site valued at $15bn

  

  Bloomberg A Chinese e-commerce site called Pinduoduo, or PDD, has raised more than $1 billion at a valuation of about $15 billion, roughly 10 times the level just a year ago, according to people familiar with the matter. The Shanghai-based company, founded by ex-Google engineer Colin Huang, is getting the money from existing investors including Sequoia Capital China and Tencent ...

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• 14 April

  Court: Monsanto can’t have patent on Bt cotton in India

  

  Bloomberg Monsanto Co., the world’s largest seed company, can’t own a patent over genetically modified cotton seeds in India, a court ruled. The Delhi High Court verdict said that certain items such as seeds, plants and animals can’t be patented under Indian laws. The court rejected Monsanto’s plea to stop Nuziveedu Seeds Ltd., an estranged licensee of the company, from ...

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• 14 April

  Indonesia’s newest unicorn now wants to take on the big boys

  

  Bloomberg PT Bukalapak.com became a billion-dollar startup by focussing on the Indonesian farmers and small-time merchants that bigger rivals such as PT Tokopedia neglected. Now it wants to buy its way onto their turf. Bukalapak, which earned unicorn status with funding from 500 Startups among others, has set up a mergers and acquisition team to identify startups that will help ...

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