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Bloomberg Reliance Industries Ltd soared the most in more than two years after billionaire Mukesh Ambani revealed a plan to sell a stake to Aramco as part of efforts to pare debt. The conglomerate aims to be a zero-net-debt company in 18 months, Asia’s richest man told shareholders. Aiding that wou-ld be a proposed sale of 20 percent of Reliance’s …

Bloomberg Amazon.com Inc. is in late-stage talks to acquire as much as 10 percent of India’s Future Retail Ltd, people familiar with the negotiations said, as the US company moves to bolster its bri- ck-and-mortar presence in one of the world’s fastest-growing retail markets. India’s No. 2 retailer by turnover, Future is seeking a valuation of about 20 billion rupees …

KUWAIT / Emirates Business Agility, a leading global logistics provider, on Tuesday reported second-quarter earnings of 12.99 fils per share on net profit of KD 21.6 million ($71 million), an increase of 8.1 percent over the same period in 2018. Q2 EBITDA grew 31.2percent to KD 48.6 million, and revenue increased 3.2percent to KD 396.3 million. First-half earnings of 25.18 …

Bloomberg US President Donald Trump decried what he called China’s “massive” intervention to suppress the yuan, portraying the US as the beneficiary of his tariffs on Chinese imports and suggesting — despite recent evidence to the contrary — that prices aren’t rising. “Through massive devaluation of their currency and pumping vast sums of money into their system, the tens of …

Bloomberg Saudi Aramco plans to buy a stake in the refining and chemicals business of India’s Reliance Industries Ltd., moving to diversify from Saudi Arabia. The purchase by Aramco, the largest oil exporter and the most profitable company in the world, precedes a planned public offering that could be held as early as next year. Aramco will buy a 20% …

Bloomberg Nissan Motor Co, BMW AG and Volkswagen AG are among carmakers in talks to bring the electric-car revolution to South Africa, as the nation’s auto-factory floors risk being left behind in the global switch to greener vehicles. The industry is preparing a unified stance on electrification to present to the government by the end of the year, Mike Mabasa, …

Bloomberg An Indian startup that aims to use artificial intelligence (AI) to deliver faster and more personalised customer support for corporate clients is raising $51 million in funding from investors including March Capital Partners and Chiratae Ventures. Uniphore Software Systems Pvt, based in Chennai and Palo Alto, California, plans to use the emerging technology to change the labor-intensive business of …

Bloomberg Huawei Technologies took the wraps off its “HarmonyOS” operating system, offering the first glimpses of in-house software that may someday replace Google’s Android and reduce its reliance on American technology. To begin with, the open-source software will skip smartphones and instead find its way into everything from cars and watches to personal computers by 2020, Richard Yu, chief executive …

Bloomberg A unit of state investment company Temasek Holdings Pte has invested in Secretlab, a Singapore-based maker of chairs for players of electronic games, to help drive growth. Heliconia Capital Management Pte’s purchase of a minority stake values the five-year-old company at between $144 million and $216 million, according to a person with knowledge of the matter. “Secretlab is now …

Bloomberg Disruptions at Hong Kong’s international airport drove big gains in shares of airports just over the mainland border. Shenzhen Airport Co soared by the 10 percent daily limit, while Guangzhou Baiyun International Airport Co rose 4.5 percent to a record high. They also rallied, when protests first brought Hong Kong’s airport to a standstill and flights were cancelled. Cathay …