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Bloomberg BYD Co. is building what would become the world’s largest vehicle-battery factory next year in an effort by the Chinese electric-car maker to increase capacity and help revive earnings growth. The plant will have an annual capacity of 24 gigawatt-hours when it is fully in use in 2019, enough to equip 1.2 million BYD Tang electric cars, according to ...

Bloomberg China spent more than $48 billion across East Asia and the Pacific between 2000 and 2016 to reward countries that consume its products and support its foreign policy positions, a new report has found. Infrastructure investment dwarfed other arms of Chinese public diplomacy over the period, according to a study by US research lab AidData released on Wednesday, totalling ...

Bloomberg This is John Flannery’s General Electric Co. — and so far, Wall Street likes it. A year after being named chief executive officer, Flannery took the boldest steps yet to revamp the sinking corporate titan, unveiling plans to pull GE out of the health-care and oil markets. By slimming it down and reorienting around power, renewable energy and aviation, ...

Bloomberg The White House opted to take a less confrontational approach towards Chinese investments in the US as it pushes Congress to strengt-hen an existing review pro-cess rather than invoke a little-used law reserved for economic emergencies. President Donald Trump wants Congress to pass legislation to bolster the Committee on Foreign Investment in the US, or CFIUS, so it can ...

Bloomberg A top Facebook Inc executive said the company’s strategy to distinguish between journalism and political content will go into effect in the “coming days.” Facebook’s head of global news partnerships, Campbell Brown, said in an updated blog post that the social-media giant would divide its political ads archive into two sections — one for ads promoting news stories about ...

Abu Dhabi / WAM Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, and the Hong Kong Monetary Authority (HKMA) signed a cooperation agreement on Tuesday to jointly promote and enable financial services innovation, and accelerate cross-border FinTech business opportunities in Hong Kong and the UAE. With this agreement, ADGM has established strategic FinTech collaborations with eleven leading ...

KATHMANDU / WAM The UAE is the third largest exporter to Nepal as the trade exchange between the two countries amounted to $425.2 million in 2017, a 14.4 percent annual growth compared to 2016, Abdullah Salih Al Salih, Under-Secretary of the UAE Ministry of Economy for Foreign Trade Affairs, said. Speaking on Monday at the opening ceremony of the UAE-Nepal ...

NEW YORK / WAM “Diplomacy will always be key to solving the region’s crises, so we must renew our efforts to see it strengthened,” said Lana Nusseibeh, Ambassador and Permanent Representative of the UAE to the United Nations, at a critical UN Security Council debate on the situation in the Middle East and North Africa chaired by the Deputy Foreign ...

Dubai / Emirates Business Emirates Flight Catering (EKFC) and Crop One will co-invest $40 million to build the world’s largest vertical farming facility near Al Maktoum International Airport at Dubai World Central. The project is a joint venture (JV) with US-based Crop One Holdings, the world’s leading vertical farm operator. His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and ...

Bloomberg Private equity firms are setting their sights on French payments processor Ingenico Group SA as they scout the market for their next target among Europe’s hottest fintechs, according to people with knowledge of the matter. The Paris-based company, with a market value of about 4.73 billion euros ($5.5 billion), is drawing preliminary interest from several buyout firms, some of ...