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Bloomberg With financial backing from the US government, solar developer Gigawatt Global Cooperatief UA signed a deal with the 15-nation Economic Community of West African States to build $1 billion of renewable energy projects in the region. The US is supporting the project through its Power Africa initiative set up in 2013 under President Barack Obama’s administration, a program that ...

Bloomberg Venezuela wrote to fellow OPEC members urging them to unite against US sanctions, echoing a similar letter from Iran, according to people with knowledge of the matter. The two countries requested that the Organization of Petroleum Exporting Countries (OPEC) should discuss the impact of American sanctions at its upcoming meeting on June 22, the people said. Both nations asked ...

Bloomberg ZTE Corp. pledged to overhaul its flawed management and internal culture after striking a deal with the US to get back in business after a damaging two-month hiatus. In a memo to employees seen by Bloomberg News, Chairman Yin Yimin promised to hold “relevant people” accountable for a ban on purchases of American technology that threatened to smother China’s ...

Bloomberg A top US executive with South Korea’s Hyundai Motor Co. said President Donald Trump has “targeted” international car companies with tariff threats, showing little regard for whether those automakers build vehicles in the US and employ Americans. “The scary thing is there seems to be a lot of conversation around import-based companies and not even much realisation that there’s ...

Bloomberg China’s factory inflation accelerated faster than expected in May as the price of commodities such as crude oil and metals increased. The producer price index rose 4.1 percent from a year earlier, compared with a projected 3.9 percent increase in a Bloomberg survey of economists and a 3.4 percent gain in April. The consumer price index climbed 1.8 percent ...

Bloomberg China plans to impose anti-dumping duties on purchases of broiler-chicken products from Brazil, the country’s top supplier, citing a 10-month investigation that said surging imports damaged the domestic breeding industry. Importers will pay a deposit of as much as 38.4 percent to Chinese customs on purchases effective, the Ministry of Commerce said in a preliminary ruling following initial findings ...

Bloomberg Xiaomi Corp. has won Hong Kong stock exchange approval for its planned initial public offering, which would be the first listing in the city with weighted voting rights, people with knowledge of the matter said. The smartphone maker passed its so-called listing hearing on June 07, said the people, who asked not to be identified because the information is ...

Bloomberg Indians increase purchases of refrigerators and TV sets around election time as the government puts more money in the hands of voters, which stands to benefit some of the world’s most profitable consumer finance companies. Prime Minister Narendra Modi is following his predecessor in boosting spending before polls due early 2019, a practice that has sparked surges in stocks ...

Bloomberg It’s the $85 billion question that could hold the key to how mega deals are made for years to come. When US District Judge Richard Leon hands down his decision on AT&T Inc.’s proposed takeover of Time Warner Inc. next week, the likes of Comcast Corp., Verizon Communications Inc., Cigna Corp. and CVS Health Corp. will be watching keenly. ...

Bloomberg Fortive Corp. will buy Johnson & Johnson’s medical sterilisation unit for $2.7 billion, adding a range of new products to the company that was spun off from medical and industrial parts giant Danaher Corp. in 2016. J&J’s Advanced Sterilisation Products business had sales of about $775 million last year, Fortive said in a statement announcing the transaction. For J&J, ...