Page 571 - Bloomberg

Foreign investors step up bids for LIC IPO in last hour before closing

With just hours to go until end of the subscription period for the $2.7 billion initial public offering of LIC, foreign institutional funds have put in orders for merely 8% of the shares

Indian buyers grab discounted Russia LNG shipments shunned by rest of world

Companies including Gujarat State Petroleum Corp. and GAIL India Ltd. bought several spot shipments at prices below prevailing market rates.

China Premier Keqiang warns of 'grave' jobs crisis as Covid lockdowns bite

China's top leaders doubled down on the nation's Covid-Zero strategy last week

Nigeria is first nation to halt domestic flights over soaring fuel prices

Nigeria's 23 airlines say they have been "subsidizing" flights for the past four months and can no longer absorb the costs after the price of aviation fuel more than tripled to 700 naira per liter

China loyalist Lee chosen as Hong Kong leader in uncontested election

The choice of Lee, who served on the police force for more than three decades before joining the security ministry, epitomizes China's focus on national security

Saudis cut oil prices from record highs amid Covid-19 lockdowns in China

Saudi Aramco is lowering prices for the first time in four months

How Reliance refinery is making millions as Ukraine war windfall

The facility is buying discounted cargoes of crude after self-sanctions on Russian fuels by some European Union companies pushed up margins.

China's Covid curbs disrupt global supply chains, add to inflation risks

As manufacturer to the world, the disruptions in China are weighing on the global economy and add another risk to the inflation picture.

Govt to reassess broadcast pricing structure as media competition hots up

Direct-to-home active subscribers fell to 68.52 million in December from 70.99 million in March 2020

Saudi Prince reverses course on Twitter for 'new friend' Elon Musk

When Musk announced his $54.20-per-share offer in April, Alwaleed used the social-media platform to reject the offer, saying it didn't 'come close' to Twitter's intrinsic value

China orders govt agencies, state firms to dump foreign PCs within 2 years

It's likely to directly affect sales by HP Inc. and Dell Technologies Inc., the country's biggest PC brands after local champion Lenovo Group Ltd

India's dependence on coal based power is proving to be very expensive

The situation cries out for more global investment in India to retire coal, buy out existing contracts, compensate affected communities and switch to renewables

Highest inflation in Tokyo in over three decades makes things tough for BOJ

While Tokyo's inflation is finally approaching the 2% level targeted by the BOJ, the April figures are unlikely to prompt the central bank to cut back its monetary easing

Costly beer and luxury cars? Consumers and profits fine with that

With costs of many raw materials flaring amid bottlenecks, companies have been testing how much they can raise prices after years of subdued inflation

Uber posts net loss of $5.9 billion as Asia investment values fall

Khosrowshahi said Uber's driver base is at a "post-pandemic high" and that it expects engagement to continue "without significant incremental incentive investments."

US Treasury Secretary Yellen sees possible 'soft landing' for US economy

"The Fed will need to be skillful and also lucky, but I believe it's a combination that is possible," Yellen said

Elon Musk secures over $7-bn funding in new financing for Twitter buy

Expected to serve as temporary Twitter CEO

Top importer India may cut taxes on edible oils to cool prices: Report

India, the world's top importer of vegetable oils, is looking to cut the agriculture infrastructure and development cess on crude palm oil imports

Gautam Adani said to be scouting for assets in Indian TV and print media

Adani Enterprises Ltd. established AMG Media Networks, an arm it said would be in the business of 'publishing, advertising, broadcasting, distribution of content over different types of media network'

LIC's record IPO set to be fully subscribed as valuation drives demand

By Thursday, the second day of the offering, investors had already put in orders for 90% of the shares for sale in India's biggest IPO.