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JUBA / Reuters South Sudan still owes neighbouring Sudan $1.3 billion from a 2012 deal that ended a dispute over oil payments between the two nations, the deputy finance minister told Reuters before he was sacked last week. The previously undisclosed amount is equivalent to eight years worth of oil revenues for South Sudan at current prices, according to former ...

Bloomberg Oil analysts have raised their forecasts for the crude price next year after major producers agreed to extend output cuts, a Reuters poll showed on Wednesday. Production disruptions in Libya and Nigeria and economic depression in Venezuela that has cut crude output will also support oil prices, the analysts said. Benchmark Brent crude futures are now forecast to average ...

Bloomberg Alibaba Group Holding Ltd.’s Jack Ma said China benefits from the stability of its single-party system, contrasting that with the unpredictability of US politics. The Chinese billionaire made the comments in response to a question about the country’s economy and its prospects for growth. He said he has confidence in China’s potential and cited as his number one reason ...

Bloomberg Go-Jek, Indonesia’s first billion-dollar tech startup, has a ‘set plan’ to become a listed company, Chief Executive Officer Nadiem Makarim said. “We are definitely going to IPO,” Makarim said at Bloomberg’s Year Ahead Asia Conference in Jakarta on Wednesday. The initial public offering is expected “hopefully within the next few years,” he said. Jakarta-based Go-Jek, backed by investors including ...

Bloomberg PT Blue Bird Group, Indonesia’s largest taxi operator, said conventional modes of public transport such as taxis still have room to grow even with the increasing popularity of new ride-hailing applications. “People still need to have a safe, reliable and good value kind of public transport,” said President Director Noni Purnomo in Jakarta. “At the end of the day, ...

Bloomberg The tide is turning against multinational brands, which have been losing market share to local products not just in Asia’s emerging markets but also in the US and Europe, according to Anglo-Dutch consumer goods giant Unilever NV. “Consumers are changing, not craving for global brands just for the sake of it,” said Hemant Bakshi, president director of Unilever Indonesia, ...

I’ve seen hundreds of articles on President Donald Trump and trade, but the real significance of the Trump economic revolution — for better or worse — is a focus on investment. There is no coordinating mastermind, but if you consider the intersection between what the Trumpian nationalists want and what a Republican Congress will deliver, it’s this: wanting to make ...

“Insider trading is not about fairness,” I often say; “it’s about theft.” It’s not a crime to know things that other people do not know, and to trade on your knowledge. In fact it is good. In fact it is the point of securities markets, or a point of them anyway: Society wants capital to flow to good projects and ...

The UK has a productivity problem and its Department for Business, Energy and Industrial Strategy is out to solve it. At first glance, its new plan exemplifies the problem — a 255-page tome published on Monday is longer on blue-skies reflection than detailed policy. Still, government needs to be to held to account when it meddles in business, and the ...

In their rush to pass something, anything, that they can call ‘tax reform,’ congressional Republicans have achieved the impossible: They have made an awful plan even worse. The first thing to note about the bill the Senate passed early Saturday is that it is not, by any reasonable definition of the term, tax reform. The elements of a smart reform ...