Masonry Layout

Bloomberg China’s BYD Co will sell its electric vehicles in Malaysia in a 500 million ringgit ($113 million) tie-up with Sime Darby Motors Sdn Bhd. Sime Darby will be BYD’s exclusive distributor in Malaysia, with the first showroom to open later this month, the companies said in a statement. They plan to have 20 dealerships by next year, and 40 ...

  Bloomberg Walmart Inc-owned digital payments brand PhonePe is seeking to raise as much as $1 billion from General Atlantic and existing investors including Tiger Global Management, Qatar Investment Authority and Microsoft, people familiar with the matter said, even as global funding dries up for startups. The all-equity round is expected to close in the next two weeks and may ...

  Bloomberg The developer at the epicenter of China’s property debt crisis appears to be inching closer to unveiling a restructuring blueprint, after a long delay that has frustrated investors and highlights their struggle in a country still relatively new to defaults. China Evergrande Group planned to meet with an ad-hoc group of its dollar bondholders to formally discuss a ...

Bloomberg Indian Prime Minister Narendra Modi won’t be holding an annual in-person summit with Vladimir Putin after the Russian president threatened to use nuclear weapons in the war in Ukraine, according to people with knowledge of the matter. The relationship between India and Russia remains strong but trumpeting the friendship at this point may not be beneficial for Modi, said ...

  Bloomberg The US is preparing a fresh round of sanctions on Russia and China for what it describes as human rights abuses by both countries, according to an official familiar with the matter. The sanctions against Russia were expected to focus on the country’s efforts to procure weapons — especially drones — which is also under heavy US sanctions. ...

  Abu Dhabi / WAM Agthia group, one of the region’s leading food and beverage companies, on Thursday announced that it has signed a memorandum of understanding (MoU) with AD Ports group, the leading global facilitator of trade, logistics, and industry. The MoU was signed by Mubarak Almansoori, Chief Corporate Services Officer, Agthia group, and Qusai Kankazar, Chief Operations Officer, ...

Abu Dhabi / WAM The “Memory of the Nation” pavilion by the National Library and Archives is participating in the Sheikh Zayed Festival once again to enrich it with historical knowledge, foster patriotism, instil national identity, inculcate Emirati values and the honourable principles of good citizenship among generations. The “Memory of the Nation” features historical documents, photographs and documentaries and ...

  Ras Al Khaimah / WAM Universal Carton Industries (UCI), one of UAE’s leading corrugated cardboard box manufacturing companies located in Ras Al Khaimah Economic Zone (Rakez), is investing AED55 million to expand its production volume to meet the growing demand for sustainable packaging solutions in the UAE and overseas. This expansion will increase UCI’s production capacity by threefold to ...

  Bloomberg Oil snapped a four-day drop amid an outage on a major US pipeline and optimism over China’s reopening. West Texas Intermediate climbed as much as 4.8% in New York, surpassing $75. The Keystone oil pipeline, which can haul more than 600,000 barrels a day of crude from Canada into the US, was halted after spillage into a creek. ...

Bloomberg Mobile industry bellwether Murata Manufacturing Co expects Apple Inc to reduce iPhone 14 production plans further in the coming months because of weak demand, which would force the supplier to again cut its outlook for its handset-component business. “Judging by handset availability in stores, I see a downward revision happening,” Murata President Norio Nakajima said in an interview. “I ...