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Bloomberg Venezuela’s distressed oil sector may get some much needed financing from China, Finance Minister Simon Zerpa said after meetings with officials from China Development Bank and China National Petroleum Corporation. China Development Bank will invest more than $250 million to boost Venezuela oil production in the Orinoco Belt, Zerpa, who is currently in Beijing for bilateral talks, said in ...

Bloomberg Canadian oil prices are poised to continue their slow, steady march upward next year as shipping bottlenecks ease and US refiners look north to fill the gap created by decreasing output from Venezuela, according to Deloitte. Western Canada Select at the Hardisty hub will average C$53.35 this year and climb to C$54.55 a barrel next year, according to a ...

Bloomberg Swedish utilities and power generators have already installed so many wind turbines that the Nordic nation is on course to reach its 2030 renewable energy target late this year. By December, Sweden will have 3,681 wind turbines installed, lobby Group Swedish Wind Energy Association estimates. Together with second-half investment decisions, that will be more than enough capacity to meet ...

Bloomberg Madagascar’s state power utility may become profitable by 2020 as the nation builds more solar plants to cut electricity-production costs, Energy Minister Lanto Rasoloelison said. The government is overhauling the state-owned power company, known as Jirama, with World Bank help as it seeks to provide universal electricity access by 2030 in a country where less than one in seven ...

Bloomberg The decision by a Chinese court to temporarily ban some sales by Micron Technology Inc. adds to a series of setbacks for the world’s chipmaking giants in their most important market. Micron, which has been caught up in dueling intellectual property lawsuits with United Microelectronics Corp., received a preliminary injunction from the Fuzhou Intermediate People’s Court in Fujian province ...

Bloomberg India raised purchase prices for crops such as cotton, soybeans and paddy rice to ensure farmers get at least 50 percent more than their production costs, a move toward fulfilling Prime Minister Narendra Modi’s pledge to double farm incomes by 2022. The minimum support price for monsoon-sown paddy rice for 2018-19 season was increased to 1,750 rupees ($26) per ...

Bloomberg Huawei Technologies Co. said a proposed ban on selling its gear to some US mobile providers isn’t lawful, pushing back against assertions it poses a risk as the Trump administration increases pressure on China over trade and national security. The Shenzhen-based networking giant’s presence in the US “has been artificially restricted by unfounded allegations and suspicions based solely on ...

Bloomberg China said that it wouldn’t implement tariffs ahead of the US on Friday, after previous arrangements put it on course to do so. “We will never fire the first shot and will not implement tariffs ahead of the US,” the Ministry of Finance said in a statement, after media reported that Beijing would start levying tariffs hours ahead of ...

Bloomberg Indians’ love affair with gold is cooling. Imports slumped more than 25 percent to 54 metric tons in June from a year earlier, a person familiar with the information said, asking not to be identified as the figures aren’t public. Overseas purchases plunged 40 percent to 343 tonnes in the first half from a year ago, according to data ...

Bloomberg China unveiled further details of its three-year environmental plan, reiterating its goal to reduce coal consumption and listing the cities where it’s targeting steel capacity curbs. Policy makers will promote natural gas use over coal in areas battling severe air pollution in the Beijing-Tianjin-Hebei region as well as Fenhe and Weihe river plains, according to three-year plan published by ...