(Bloomberg) — South Africa’s biggest cities are preparing to source their own power after the energy ministry this month approved letting them wean themselves off the state utility that’s subjected cities to outages for the past 13 years. Johannesburg and Cape Town, which have a combined population of about 10 million people, plan to diversify […]
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Dubai airport passenger traffic may fall 70% this year, CEO says
DUBAI — Dubai airport, the world’s busiest for international travel before the coronavirus crisis, could see passenger traffic fall by as much 70% this year, its chief executive said. A wave of new infections around the world ahead of the typically busy Christmas and year-end travel season has brought further uncertainty to an industry already […]
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Ant Group to close institutional book of $17.2 bln Hong Kong IPO early -sources
HONG KONG — Ant Group will close its Hong Kong institutional book building a day earlier than planned as it aims to raise about $17.2 billion in the city, according to three sources with direct knowledge of the matter. The book was due to close on Thursday, but that deadline will be accelerated to Wednesday […]
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Oil steadies, but outlook gloomy as coronavirus cases, supply grow
TOKYO — Oil prices eked out small gains on Tuesday after recent sharp losses, but sentiment remained subdued as a surge in global coronavirus cases hit prospects for crude demand while supply is rising. Brent crude was up 19 cents, or 0.5%, at $40.65 a barrel by 0324 GMT. U.S. oil gained 15 cents, or […]
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Gold prices gain as coronavirus cases surge
Gold prices rose on Tuesday after a fresh wave of coronavirus infections raised concerns over a global economic recovery and bolstered the precious metal’s safe-haven appeal. Spot gold gained 0.3% to $1,908.02 per ounce by 0321 GMT. U.S. gold futures were up 0.3% at $1,911.20. “With rising virus cases globally, especially in the west, gold’s […]
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Japan’s government lays out plan to prod carriers to cut cellphone charges
TOKYO — Japan’s government on Tuesday laid out a plan for reducing consumers’ cellphone charges, as it stepped up its bid to promote competition in the country’s telecoms market. Lowering cellphone charges has been among Prime Minister Yoshihide Suga’s policy priorities since becoming the country’s leader last month, as he shakes up a highly protected […]
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China launches crackdown on mobile web browsers, decries ‘chaos’ of information
SHANGHAI — China’s top cyber authority said on Monday it would carry out a “rectification” of Chinese mobile internet browsers to address what it called social concerns over the “chaos” of information being published online. China’s strict internet censorship rules have been tightened numerous times in recent years and in the latest crackdown, the Cyberspace […]
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Asian shares hit by surging coronavirus cases, U.S. stimulus woes
Asian stocks markets fell on Tuesday as soaring global coronavirus cases and slow progress on a U.S. stimulus deal hammered investor sentiment and took a toll on Wall Street. MSCI’s gauge of Asia Pacific stocks outside Japan was down 0.43%, with Australia’s ASX 200 off 1.1% to an almost three-week low. China’s CSI300 Index edged […]
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Japanese shares trim early losses as upbeat earnings lift Canon
TOKYO — Japanese shares pared early losses on Tuesday as strong earnings from camera and copy machine maker Canon helped counter weakness in travel and real estate stocks following a lower finish on Wall Street. After dropping as much as 1.1% in early trade, the Nikkei share average was down 0.28% at 23,428.70 by the […]
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Copper dips on virus fears, U.S stimulus aid uncertainty
Copper prices fell on Tuesday following caution over surging global cases of COVID-19 and the uncertainty around a new U.S stimulus package ahead of the presidential election. The United States, Russia, France and many other countries set records for daily infections, while a much-awaited U.S. stimulus was yet to be agreed. Investors also stayed on […]