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Bloomberg China’s biggest electric-car maker will gain a stock market listing in an asset swap valuing the state-backed manufacturer at 28.8 billion yuan ($4.5 billion) and giving investors a bigger chance to participate in the world’s largest market for new-energy vehicles. One of BAIC Group’s publicly traded affiliates, Chengdu Qian Feng Electronics Co., will buy Beijing Electric Vehicle Co., also ...

Bloomberg An arm of China’s sovereign fund is competing with buyout firms in the bidding for Nature’s Care Manufacture Pty, as the Australian supplement brand’s owner makes a second attempt at a sale, people with knowledge of the matter said. China Jianyin Investment Ltd., a unit of state-run China Investment Corp. that’s known as JIC, is among suitors invited to ...

Bloomberg Wanda Hotel Development Co. corrected a statement on a planned sale of assets that had appeared to contradict an English-language version of an announcement at the unit of billionaire Wang Jianlin’s property-to-entertainment conglomerate. The Chinese-language announcement of a pending acquisition was mistaken and should have referred to a “very substantial disposal”, the hotel unit said in a Hong Kong ...

Bloomberg SoftBank Group Corp. is nearing a deal to invest about $400 million in Ping An Insurance (Group) Co.’s health-care portal ahead of the Chinese company’s initial public offering, people with knowledge of the matter said. The Ping An unit, known as Good Doctor, aims to file an IPO application with the Hong Kong stock exchange as soon as the ...

Bloomberg Offshore bonds volumes from India are set to gather pace after a banner year as companies tap the lowest borrowing costs in a decade to pay for buying assets locally and abroad. That’s the view of Citigroup Inc., which forecasts sales of debt denominated in US dollar, euro and yen in 2018 to be as good as last year ...

Bloomberg Singapore should remain open to adjusting levels of foreign workers while not threatening job and wage opportunities for native residents, Monetary Authority of Singapore Managing Director Ravi Menon said. “It is not about how many foreign workers industry wants or society can afford to have, but what number and kind of foreign workers we need to maximise the job ...

Bloomberg India’s biggest oil and gas explorer has widened its first debt-raising plan to as much as $5.48 billion to buy state-run refiner Hindustan Petroleum Corp. Oil & Natural Gas Corp’s board has approved raising as much as 350 billion rupees in loans to buy the government’s 51.1 percent stake in HPCL, Chairman Shashi Shanker said in New Delhi. That ...

BAGHDAD / Reuters Iraq agreed a deal with US energy company Orion on Monday to process natural gas extracted at its giant Nahr Bin Omar oilfield. The memorandum of understanding, signed in Baghdad by representatives of the oil ministry and the US company, will allow Orion Gas Processors to build facilities to capture the gas from the field located in ...

Bloomberg Libya’s powerful black market traders are encountering an unfamiliar sight: people showing up with bundles of dollars for sale. Rising oil prices have relieved financial pressure on Libya, allowing authorities to channel more dollars to importers since the start of the year. Meanwhile, the central bank has eased restrictions on currency transfers that had made the black market the ...

Bloomberg Brent crude steadied after Saudi Arabia and Russia pledged to continue supply cuts. Futures rose as much as 0.5 percent in London before paring those gains. Output limits should remain through 2018 as rebalancing may be achieved next year, Saudi Arabia’s Energy Minister Khalid Al-Falih said in a Bloomberg television interview held with his Russian counterpart. Russia is prepared ...