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Bloomberg Venezuela’s state-run oil company is preparing to make a $949 million bond payment that’s due October 29, according to reports. Petroleos de Venezuela SA’s (PDVSA) plan to make the coupon and partial principal repayment on the 2020 notes would mark a rare exception for Nicolas Maduro’s government, which has racked up nearly $7 billion in defaulted debt to investors. ...

Bloomberg Exxon Mobil Corp. resumed talks with Ghana Oil Co. as the oil supermajor nears a deadline to find a local partner for the exploration of crude at an offshore field, according to people familiar with the matter. Talks between Exxon and the Accra-based gas station operator, known as Goil, for a 5 percent stake in the Deepwater Cape Three ...

Bloomberg Pakistan has said that Saudi Arabia agreed to a $6 billion support package to bolster Islamabad’s dwindling finances following a second visit by Prime Minister Imran Khan to Riyadh seeking aid. Saudi Arabia will deposit $3 billion directly with Pakistan “as balance of payment support,” while another one-year deferred payment facility of up to $3 billion for oil imports ...

Bloomberg India is devising a plan to boost shipments of around 200 products to China and narrow the deficit with its biggest trading partner, a person with knowledge of the matter said. The plan includes seeking duty waiver on a raft of products under the Asia Pacific Trade Agreement (Apta), the person said, asking not to be identified as the ...

Bloomberg Investors are snapping up first-time share sales in Thailand despite the rout in global equity markets. In October alone, Thai firms and the country’s government raised $1.95 billion through initial public offerings (IPOs), the most for a single month since 2013, according to data compiled by Bloomberg. That’s even as the equity rout derails listings around the world, from ...

Bloomberg Innovent Biologics Inc., a Chinese biotech firm backed by Temasek Holdings Pte, raised HK$3.3 billion ($421 million) after pricing its Hong Kong initial public offering near the top of a marketed range, people with knowledge of that matter said. The Suzhou-based company priced it sale of 236.35 million shares at HK$13.98 apiece, the people said, asking not to be ...

Bloomberg Australia is likely to see weaker property prices and diminished productivity under policy proposals by the opposition Labor party that’s on track to win government, says Royal Bank of Canada (RBC). House prices could fall 15 percent under plans to curb property investment tax breaks, while proposed changes to other investor perks could shave up to 0.2 percent from ...

Bloomberg The sell-off in US stocks picked up steam as mixed corporate earnings and weak housing data fueled anxiety that rising prices will crimp economic growth. Treasuries rallied for a second day on demand for haven assets. The S&P 500 Index extended its October rout to 7 percent, with the intraday low of 2,711 set during the Oct 11 drubbing ...

Bloomberg The good news: European shares are heading for their first day of gains in six sessions, partly due to a jump in luxury stocks after another stellar sales report from the owner of Gucci. The bad news: It might not last. US stocks rallied after Europe’s equities markets closed, though now futures are pointing to another day of declines ...

Bloomberg The UK is planning legislation to prevent a repeat of the contagion that followed Carillion Plc’s collapse. When the construction giant failed in January, it left its 30,000 suppliers some 2 billion pounds ($2.6 billion) out of pocket after it took up to four months to pay its bills. The shockwaves reverberated through the UK economy, damaging confidence already ...