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Bloomberg Panama is opening diplomatic relations with China, the latest blow to Taiwan as Beijing’s leaders seek to isolate the self-governed island. Panamanian President Juan Carlos Varela announced the move in a national address. China is the second-biggest user of the Panama Canal and has played a key role in sectors from banking to telecommunications, he said, adding that Taiwan ...

Bloomberg Most of the hundreds detained at Monday’s anti-Kremlin protests in Moscow were released overnight, while opposition leader Alexey Navalny was sentenced to 30 days for his role in organizing the unsanctioned rally. Of the more than 800 people detained in Moscow, at least 32 were still being held at 4 a.m. local time, according to OVD-Info, a group that ...

Bloomberg Finland’s Prime Minister Juha Sipila could face a tight squeeze to avoid a snap election after the biggest opposition parties quickly ruled out giving him any help in the current political impasse. Sipila put a new election into play on Monday after he and the National Coalition dumped their junior coalition partner, The Finns, in a bid to find ...

Bloomberg General Electric Co. and Baker Hughes Inc. have cleared a second major antitrust hurdle in their effort to create the world’s second-biggest oilfield services provider. GE won approval from the US Justice Department to combine its oil and gas business with Baker Hughes. The clearance follows by two weeks a similar decision by European regulators, and comes just hours ...

CAIRO / Reuters Egypt’s gross domestic product is projected to grow 5.3 percent by 2019, suggesting the economy of the most populous Arab state is recovering after years of turmoil, the World Bank has said. In its monthly Global Economic Prospects report for June, the Bank estimated Egypt’s GDP would grow 3.9 percent in the 2016-17 fiscal year, which ends ...

Bloomberg The two biggest shale gas deposits in the US are producing a record amount of the power-plant fuel, signaling that a fight for market share will intensify as supply outstrips demand. As natural gas prices rebound from last year’s historic lows, output from the Marcellus shale basin in the US East and the Permian reservoir in Texas is driving ...

Bloomberg Oil held gains near $46 a barrel before US government data forecast to show crude stockpiles resumed declines after an unexpected rise. Futures climbed 0.2 percent in New York after advancing 1 percent in the previous two sessions. Inventories are forecast to have slid by 2.25 million barrels last week, according to a Bloomberg survey before an Energy Information ...

Bloomberg Glencore Plc is doubling down on coal, even as rivals BHP Billiton Ltd. and Rio Tinto Group move away from the world’s dirtiest fossil fuel. The company, run by former coal trader Ivan Glasenberg, made a surprise eleventh-hour $3.5 billion bid for a huge patch of thermal coal-rich ground on Australia’s east coast controlled by Rio Tinto Group and ...

Bloomberg India’s government has signaled it will press ahead with the roll out of a goods and services tax on July 1, pushing back against speculation it’s considering delaying the launch of one of its flagship reforms. “The rumors about GST implementation being delayed are false,” Revenue Secretary Hasmukh Adhia said in a Twitter post on Tuesday. “Please do not ...

Bloomberg As the Union Jack fluttered over Hong Kong’s Victoria Harbour for the last time on June 30, 1997, home prices were hovering near record highs and sellout crowds at new projects were the norm. Twenty years on, property price have hit fresh records and buyers are still thronging to buy new apartments. This time around, the boom has been ...