January, 2017

• 21 January

  Egypt’s Palm Hills sees growth in challenging property market

    Bloomberg Egypt’s Palm Hills Developments SAE expects a jump in sales this year, even as a currency flotation and rising inflation put the nation’s property market under strain. The luxury real estate developer is aiming for about 8.5 billion Egyptian pounds ($450 million) of contracted sales and plans to deliver some 2,000 units in 2017, Chairman Yasseen Mansour said ...

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• 21 January

  LNG sector looks to producing power as record glut looms

  

    Bloomberg Seeking new ways to market their product, producers of liquefied natural gas are turning to an age-old technique: packaging. As demand for electricity booms in developing nations from South Africa to Chile, LNG producers are offering to supply both fuel and a power plant in partnership agreements that can lock in consumption of their product for years. For ...

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• 21 January

  Apple ready to start making iPhones in India, at a price

  

    Bloomberg Apple Inc. is willing to start making iPhones in India, but it wants a big helping hand from Narendra Modi’s government first. The Cupertino, California-based company is scheduled to meet with officials in New Delhi next week to discuss the prospects for setting up manufacturing facilities in the country this year. Apple, the most valuable company on Earth, ...

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• 21 January

  Transport, hotels spur China economic growth

  

    Bloomberg Transport, deliveries and eateries spurred the first acceleration in Chinese economic growth in two years last quarter, highlighting the robust expansion of new drivers and the underlying risks in real-estate since the introduction of policy curbs to halt property speculation. Carriers, warehousing and delivery output rose 9.9 percent from a year earlier in the fourth quarter, the National ...

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• 21 January

  China’s Wanda Group mulls deeper health-care push

    Bloomberg Billionaire Wang Jianlin’s property-to-entertainment conglomerate is weighing a push into private health care in China, tapping into a rapidly growing multi-billion dollar industry in the country. The chairman of Dalian Wanda Group Co. is considering setting up a chain of hospitals, he told Bloomberg News Editor-in-Chief John Micklethwait during a panel at the World Economic Forum in Davos, ...

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• 21 January

  Australia sells $7bn of bonds in biggest-ever sale

  

    Bloomberg Australia’s government sold A$9.3 billion ($7 billion) of notes maturing in December 2021, its biggest-ever bond transaction. The offering was snapped up by investors even as doubts swirl about the country’s top credit rating and the government’s ability to rein in its budget deficit. While credit assessors refrained from taking any action following December’s mid-year budget update, S&P ...

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• 21 January

  Apple sues Qualcomm over patent licensing practices

  

    Bloomberg Apple Inc. sued Qualcomm Inc., accusing it of monopolizing the market for chips for wireless devices and withholding $1 billion in retaliation for cooperating with South Korean antitrust authorities. Apple is demanding Qualcomm hand over money that was supposed to be a rebate for licensing fees. Qualcomm is holding back the money as punishment for Apple cooperating with ...

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• 21 January

  Nissan, Toyota back UK plants despite May’s Brexit plan

  

    Bloomberg Toyota Motor Corp. and Nissan Motor Co. say they’ll keep making cars in the UK despite Prime Minister Theresa May’s plan to leave the European Union’s single market, which could make exporting from British factories less lucrative. May’s Brexit plan won’t derail Nissan’s commitment to build new versions of its Qashqai and X-Trail sport utility vehicles at its ...

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• 21 January

  London home presales slump to four-year low

    Bloomberg Sales of London homes under construction last year dropped to the lowest level since 2012, leaving developers with a record number of unsold properties. Purchases of homes currently being built fell 22 percent to 20,695 from a year earlier, according to a report by Molior London seen by Bloomberg. The number of unsold properties that are under construction ...

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• 21 January

  Buffett back in money on IBM, reversing $2.6 billion loss

  

    Bloomberg International Business Machines Corp. has climbed above the price that Warren Buffett paid for shares in the computer company, reversing more than $2 billion in paper losses for his Berkshire Hathaway Inc. IBM rose 2.2 percent to $170.55 at 4 p.m. Friday in New York after giving 2017 profit guidance on Thursday that was higher than analysts’ estimates. ...

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