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Bloomberg Toyota Motor Corp. is pushing deeper into the ride-sharing business. Toyota Tsusho Corp., the automaker’s trading arm, will invest an undisclosed amount in Grab, Southeast Asia’s leading ride-hailing operator. Toyota Motor said it will work with Grab to provide services in the region, a year after the carmaker bought a small stake in Uber Technologies Inc. as it explores ...

Bloomberg China’s State Administration for Industry and Commerce is reviewing an antitrust complaint accusing Apple Inc. of abusing its dominant position in smartphone applications, people familiar with the matter said. The regulator is studying the information following a complaint filed on behalf of developers before deciding if a formal investigation is necessary, said the people, who asked not to be ...

Bloomberg Streets in Mumbai, India’s financial capital, were relatively empty while trading volumes in stock and bond markets dropped as residents stayed home following the worst downpour in 12 years. The city’s Santacruz weather center recorded 33.1 centimetres of rain in 24 hours that ended at 8:30 am on Wednesday, the most since 94.4 centimeters of precipitation recorded 12 years ...

Bloomberg Asian equities advanced as fears of escalating geopolitical risk eased following US President Donald Trump’s tempered response to North Korea’s launch of a ballistic missile across Japan. More than two stocks rose for each share that declined on the MSCI Asia Pacific Index, which gained less than 0.2 percent to 160.47 as of 4:31 p.m. in Hong Kong, following ...

DUBAI / Reuters Corporate news boosted a couple of stocks in the United Arab Emirates on Wednesday, while a leap by Global Telecom and strong international markets lifted Egypt’s blue-chip index sharply. Trading volumes have generally been low in the Middle East in recent days because of the approach of Eid al-Adha holidays, which began in Saudi Arabia on Wednesday ...

Bloomberg Resilient economic growth and a government campaign against excessive leverage are helping China’s largest banks, curbing their bad loans and underpinning their net interest margins. Those factors helped three of the big banks post higher-than-estimated second-quarter net income, led by Bank of China Ltd.’s 23 percent surge, the biggest increase in six years. Largest rival Industrial & Commercial Bank ...

Reuters Industrial and Commercial Bank of China is talking to governments and state-linked entities in the Gulf that are interested in issuing yuan-denominated bonds in China, said an executive at ICBC, China’s largest bank. One government entity is in the process of applying to issue such instruments, known as panda bonds, which would make it the first issuer from the ...

Reuters Nigeria’s United Bank for Africa (UBA) said it had made a provision on loans made to 9mobile, the mobile operator formerly known as Etisalat Nigeria. The lender did not give details of the provision but said it had a $125 million exposure to 9mobile. UBA said the exposure was secured, and part of a syndicated loan with 12 other ...

Bloomberg The Bloomberg Dollar Spot Index extended its Asia session gain with investors continuing to unwind their short dollar exposure across the board as the gauge rebounded from its lowest level since January 2015. The greenback’s relief rally saw the euro slide a second day, set for its first two-day decline in two weeks. Euro-dollar was 0.2 percent lower at ...

Bloomberg Russia’s slow-motion banking crisis claimed its biggest victim yet, forcing the central bank to provide support for other lenders to prevent panic from spreading. Bank Otkritie FC, a month removed from being Russia’s biggest private lender, was taken over by a government-backed fund set up by the central bank to consolidate the sector. The move will place at least ...