Asia Business

Egypt issues $4 bln in foreign currency bonds: finance ministry

20/02 Egypt has issued $4 billion in foreign currency bonds and the sale was oversubscribed fivefold, attracting $21.5 billion in bids, the Finance Ministry said on Wednesday.  Full story

Nikkei snaps 3-day winning streak, exporters retreat

04h48 Japan's Nikkei retreated on Thursday as investors took a breather after a 3-day rally even as broader market losses were contained by optimism around U.S.-China trade talks.. . .  Full story

Japan manufacturing shrinks for first time since 2016 amid trade war - PMI

02h51 Japanese manufacturing activity contracted in February for the first time in two-and-a-half years as factories cut output amid shrinking domestic and export orders, a private business survey showed on Thursday.. . .  Full story

Oil settles 1 pct higher on hopes of market rebalance, trade deal

20/02 Crude prices rose more than 1 percent on Wednesday to their highest level this year on hopes that oil markets will balance later this year, helped by output cuts from top producers as well. . .  Full story

Bangladesh PM's office revives Swiss trader AOT's LNG supply deal

20/02 Bangladesh's prime minister has given the nod to a multi-billion dollar LNG supply deal with Swiss trader AOT Energy but the energy ministry will make a final decision on whether it goes ahead, an. . .  Full story

Nigeria ready to reduce oil output to boost prices - statement

20/02 Nigeria is willing to reduce oil output to help secure higher prices, the spokesman for President Muhammadu Buhari said in a statement on Wednesday, after an envoy from Saudi Arabia called on the African. . .  Full story

-UAE eases Qatar shipping ban amid continuing dispute

20/02 The United Arab Emirates has eased a ban on the shipping of goods between it and Qatar enforced under a political and economic boycott of Doha, according to port circulars and an industry source.. . .  Full story

Saudi Aramco in talks on further Indian investments

20/02 Saudi Aramco, the world's top oil exporter, is in talks on possible investments in Indian projects involving companies including Reliance Industries , operator of the world's biggest refining complex, its chief executive said on. . .  Full story

Bank Audi studies buying National Bank of Greece's Egypt unit -source

20/02 Bank Audi SAE has begun due diligence on buying National Bank of Greece's branches in Egypt, a banker involved in the process said.. . .  Full story

Saudi prince expects investment worth more than $100 bln in India

20/02 Saudi Arabia's Crown Prince Mohammed bin Salman said on Wednesday he expected investment opportunities worth more than $100 billion in India over the next two years as he began his first official visit amid tensions. . .  Full story

China will not change prudent monetary policy - Premier Li

20/02 China has not and will not change its prudent monetary policy and will not resort to "flood-like" stimulus, Premier Li Keqiang said on Wednesday.. . .  Full story

Dubai lifted by real estate as Gulf gains on global rally

20/02 Dubai's main stock index closed at a two-and-half-month high on Wednesday after strong fourth-quarter earnings from real estate companies last week triggered six days of gains. All major Gulf. . .  Full story

China's Chalco to sell 190,000 T of aluminium capacity to Yunnan affiliate

20/02 Aluminum Corp of China Ltd , known as Chalco, said on Wednesday it had proposed selling 190,000 tonnes of annual aluminium smelting capacity to a Yunnan-based unit of its parent, Chinalco, for 950 million yuan. . .  Full story

China central bank to maintain prudent monetary policy

20/02 China's central bank will maintain prudent monetary policy and conduct appropriate macro-adjustments to ensure stability in the world's second largest economy, an official was quoted as saying in a central bank publication on Wednesday.. . .  Full story

Saudi energy minister hopes oil market will balance by April

20/02 Saudi Energy Minister Khalid al-Falih said on Wednesday he hoped the oil market would be balanced by April and that there would be no gap in supplies due to U.S. sanctions on OPEC members. . .  Full story

Asia Distillates-Gasoil cash discount narrows amid stronger deals

20/02 Asia's cash differentials for 10 ppm gasoil edged higher on Wednesday, helped by stronger buying interests in the Singapore physical market, while the front-month time spread narrowed its contango structure.. . .  Full story

SE Asia Stocks-Rise on hopes of trade deal deadline extension, monetary policy easing

20/02 Southeast Asian stock markets closed higher on Wednesday, with Philippines leading the gains, on hopes of an extension to the deadline for a U.S.-China trade deal, and expected easing in monetary policies in the. . .  Full story

Dubai's ENOC partners with India's IOC to expand abroad

20/02 United Arab Emirates' National Oil Company (ENOC) Group said on Wednesday it had formed an alliance with state-run Indian Oil Company (IOC) as part of the Dubai-based firm's global expansion strategy.. . .  Full story

Tencent to maintain aggressive investment stance in face of challenging 2019

20/02 Tencent Holdings Ltd said investment is central to its overall strategy and so it will maintain its scale of investment after an aggressive 2018, brushing aside near-term risks such as the bursting of China's tech. . .  Full story

Flydubai swings to loss on rising fuel costs and interest rates

20/02 Flydubai swung to a loss of almost 160 million dirhams ($43.5 million) for 2018, it said on Wednesday, citing higher fuel costs and unfavourable currency moves.. . .  Full story

Cathay Pacific sees 2018 profit blowing past consensus as revamp pays off

20/02 Hong Kong's Cathay Pacific Airways Ltd projected its annual profit at more than double analyst estimates as its turnaround plan designed to cut costs and boost revenue pays off, sending its shares surging nearly. . .  Full story

Saudi crown prince says terrorism a common concern with India

20/02 Saudi Arabia's Crown Prince Mohammed bin Salman said on Wednesday terrorism was a common concern with India and that his country was ready to share intelligence to tackle it.. . .  Full story

Hong Kong stocks end higher on trade, Fed optimism

20/02 Hong Kong stocks ended higher on Wednesday on hopes that Beijing and Washington will broker a trade deal and de-escalate their year-long tariff war, while U.S. Federal Reserve official's comment on holding off further rate. . .  Full story

China's capital Beijing vows air quality improvement but gives no target

20/02 China's capital city Beijing has pledged to improve air quality this year but did not commit to a specific target, suggesting the country's air-pollution campaign is stalling as the easily attainable measures have already. . .  Full story

China stocks close higher on trade deal hopes

20/02 Shares in China edged higher on Wednesday as the United States and China pressed ahead with their crunch talks on trade.. . .  Full story

Egypt issues $4 bln in foreign currency bonds - finance ministry

20/02 Egypt has issued $4 billion in dollar denominated bonds with maturities of five, 10 and 30 years in a sale that was five times oversubscribed, the Finance Ministry said on Wednesday.. . .  Full story

Nikkei rises as U.S.-China trade deal hopes boost sentiment

20/02 Japan's Nikkei closed at another nine-week high on Wednesday, as hopes for U.S.-China trade talks helped lift cyclical stocks such as autos and index-heavyweights including SoftBank Group.. . .  Full story

China to expand agriculture reforms to bolster rural economy

20/02 China will deepen reforms of its agriculture sector to promote its rural economy, the government said in its first policy statement of 2019, as it seeks to bolster growth and offset trade challenges.. . .  Full story

Malaysia's Feb 1 - 20 palm oil exports rise 0.8 pct -ITS

20/02 Exports of Malaysian palm oil products for February 1 - 20 rose 0.8 percent to 919,492 tonnes from 912,061 tonnes shipped during January 1 - 20, cargo surveyor Intertek Testing Services said. . .  Full story

Shanghai shares slip as investors pocket gains

20/02 Stocks in Shanghai edged lower as investors took profit after the recent gains triggered by optimism around a possible trade deal between China and the United States. ** At midday, the Shanghai Composite Index fell. . .  Full story

JGBs follow global peers higher ahead of Fed minutes

20/02 Japanese government bond prices rose modestly on Wednesday, buoyed by gains in global peers including German bunds and U.S. Treasuries ahead of the release of Federal Reserve meeting minutes later in the day.. . .  Full story

Malaysia's Feb 1 - 20 palm oil exports remains unchanged -AmSpec Agri

20/02 Exports of Malaysian palm oil products for February 1 - 20 remains unchanged at 929,856 tonnes , according to independent inspection company AmSpec Agri Malaysia said on Wednesday. Here is the breakdown of. . .  Full story

Thai wary of risks, policy tightening to be gradual - minutes

20/02 Thailand's central bank kept its policy rate on hold this month and expects any future policy tightening to be gradual and dependent on data, its meeting minutes showed on Wednesday.. . .  Full story

Nikkei rises to new 2-month high on U.S.-China trade deal optimism

20/02 Japan's Nikkei rose to more than two-month highs on Wednesday morning, as progress in U.S.-China trade talks helped lift cyclical stocks such as autos and electronic equipment firms.. . .  Full story

Japan firms see weak wage hike momentum, cautious on capex

20/02 Business investment in Japan has been a rare bright spot in the world's third-largest economy but that may now be fading amid anxiety over an upcoming sales tax hike and global trade frictions,. . .  Full story

Japanese firms see flat business spending amid trade frictions, tax hike jitters

20/02 Business investment in Japan has been a rare bright spot in the world's third-largest economy but that may now be fading amid anxiety over an upcoming sales tax hike and global trade frictions,. . .  Full story

Global dairy prices rise for sixth time in a row, pointing to ongoing recovery

20/02 Global dairy prices rose for the sixth sale in a row at a fortnightly auction held early on Wednesday, cementing hopes of an ongoing recovery from a dip in 2018.. . .  Full story

Libya's NOC to assess security at El Sharara before resuming production

20/02 Libyan state oil firm NOC will reopen the El Sharara oilfield, the country's biggest, only after an inspection to establish security, a spokesman said on Tuesday.. . .  Full story

Eastern Libyan forces hand El Sharara oilfield to oil guards

19/02 Eastern Libyan forces handed over control of the El Sharara oilfield to an oil security force, officials said on Tuesday, in a bid to encourage state oil firm NOC to restart production that has. . .  Full story

India exempts small firms from angel tax to promote business

19/02 India eased taxes for some new businesses on Tuesday, bowing to pressure to exempt them from an "angel tax" on funds they have raised, in an attempt to boost investments and jobs.. . .  Full story

Vietnam confirms first African swine fever cases on three farms

19/02 African swine fever has been detected on three farms in Vietnam, authorities said on Tuesday, the first confirmed cases of the highly contagious disease in the Southeast Asia country.. . .  Full story

Asia Distillates-Jet fuel refining margins dip, cash discounts widen

19/02 Asian refining margins for jet fuel slipped on Tuesday, but stayed close to a one-month high touched in the previous session, while cash discounts for the aviation fuel widened amid muted demand in. . .  Full story

Dubai home prices to fall further in 2019 on oversupply - S&P

19/02 Dubai residential property prices will fall another 5-10 percent this year due to a continued gap between supply and demand, before steadying in 2020, S&P Global Ratings said on Tuesday.. . .  Full story

African swine fever detected on three Vietnam farms -animal health dept

19/02 African swine fever has been detected on three farms in northern Vietnam, the Animal Health Department said on Tuesday.. . .  Full story

SE Asia Stocks-Most in red; Philippines worst hit as real estate, financials drag

19/02 Philippine stocks fell the most on Tuesday dragged by losses in the real estate and financial stocks, as most of the Southeast Asian equity markets ended lower, while Malaysia gained as investors took positions. . .  Full story

Hong Kong stocks snap six-week rally as investors book profits

19/02 Hong Kong stocks ended lower on Tuesday, snapping a six-week rally partly fuelled by optimism that China and the United States will hammer out a deal to resolve their trade dispute.. . .  Full story

Shanghai shares end flat as investors book profits

19/02 Shanghai stocks ended flat after briefly touching a near five-month high on Tuesday, as investors booked profits following a surge in the previous session.. . .  Full story

Alumina plant in China's Chongqing restarts after 4-1/2-year hiatus

19/02 An 800,000 tonnes per year alumina refinery in the southwestern Chinese city of Chongqing has restarted after 4-1/2 years, state media and an official with the plant's new operator said, as the nation's demand. . .  Full story

Nikkei inches up to 2-month high, SoftBank Group drops

19/02 Japanese shares ticked up to new two-month highs on Tuesday on hopes of a breakthrough in U.S.-China trade talks, though the gains were led by defensive shares as investors remained cautious on the global. . .  Full story

JGBs edge higher after BOJ Gov Kuroda's stimulus comments

19/02 Japanese government bond prices erased earlier modest losses to trade slightly higher on Tuesday after Bank of Japan Governor Haruhiko Kuroda said the central bank would mull further policy easing if efforts to achieve. . .  Full story

China pledges more support for banks' perpetual bonds to boost lending

19/02 China will provide further support for banks' perpetual bond issuance, including examining ways to broaden the investor base for such bonds, to help boost lending in the economy, a vice central bank governor said. . .  Full story

China, Hong Kong stocks extend gains on trade talks hopes

19/02 China and Hong Kong stocks rose further on Tuesday morning, aided by hopes that Sino-U.S. trade talks were making progress.. . .  Full story

Chinese frozen food firm recalls products suspected of African swine fever contamination

19/02 Major Chinese frozen food producer Sanquan Food Co Ltd said on Monday it has recalled products that may be contaminated with African swine fever, following media reports that some of its dumplings tested positive for. . .  Full story

Indian state to move planned Saudi Aramco refinery after farmers protest

19/02 Opposition from farmers has prompted India's western state of Maharashtra to move the location for what would be the country's biggest oil refinery, Chief Minister Devendra Fadnavis said.. . .  Full story

Malaysia lifts bauxite mining moratorium after 3-year ban - minister

19/02 Malaysia will not extend a moratorium imposed on bauxite mining on environmental grounds that expires on March 31 due to strong demand for the ingredient used to make aluminium, the country's water, land and. . .  Full story

Nikkei inches up to fresh 2-month high on U.S.-China trade optimism

19/02 Japanese shares edged up to new two-month peaks on Tuesday, supported by hopes of a breakthrough in U.S.-China trade talks, with investors snatching up defensive shares amid lingering worries about the global economic slowdown.. . .  Full story

China needs tax cuts to relieve pressure on economy - vice premier

19/02 China's decision to cut company taxes and fees is an important part of fiscal policy and is a hard-hitting measure needed to cope with pressure on the economy, state media reported Vice Premier Han. . .  Full story

Japan business mood sours, tough year seen ahead - Reuters Tankan

19/02 Japanese business sentiment worsened in February to levels last seen in late 2016, the Reuters Tankan poll showed, in a sign companies took a hit from weakening demand both at home and abroad in. . .  Full story

Oil gains as investors grow optimistic over OPEC output deal

18/02 Oil rose for a fifth day on Monday, on track for its strongest first quarter in eight years, thanks to a growing belief among investors that OPEC's supply cuts will prevent a build-up in. . .  Full story

Saad Group seeks debt resolution under Saudi bankruptcy law - sources

18/02 The company of indebted Saudi Arabian billionaire Maan al-Sanea has filed for bankruptcy under a new Saudi law that makes it easier for creditors to recover payments, three sources familiar with the matter said,. . .  Full story

Dubai's DMCC in talks with major coffee traders for new coffee centre

18/02 The Dubai Multi Commodities Centre (DMCC) said on Monday it was in talks with more than one major coffee trading house to bring their business to its newly opened Coffee Centre.. . .  Full story

Maldives court orders arrest of former president over alleged corruption

18/02 A court in the Maldives ordered the arrest and detention on Monday of the former president, Abdulla Yameen, on suspicion of money laundering.. . .  Full story

Malaysia lifts bauxite mining moratorium after 3-year ban

18/02 The Malaysian government said it would not extend its moratorium on bauxite mining which ends on March 31 due to strong demand for the industry, state news agency Bernama reported on Monday, quoting the. . .  Full story

Tel Aviv Stock Exchange expects IPO to go ahead this year -CEO

18/02 The Tel Aviv Stock Exchange (TASE) expects to float nearly a third of its shares in an initial public offering some time this year, its chief executive officer said on Monday.. . .  Full story

Singapore unveils budget bonanza for elderly with election anticipated

18/02 Singapore unveiled an expansionary budget for the next financial year on Monday, setting aside S$6.1 billion for the welfare of its elderly in a generous package before an election expected as soon as this. . .  Full story

Asia Distillates-Gasoil refining margins hit 12-week high

18/02 Asian refining margins for 10ppm gasoil rose on Monday to their highest in 12 weeks, buoyed by tightening supply, while cash discounts for the industrial fuel widened marginally on the back of weaker. . .  Full story

SE Asia Stocks-Most end higher on trade talk progress; Indonesia leads

18/02 Most Southeast Asian stock markets closed higher on Monday, with Indonesia leading the pack boosted by gains in financial and telecom sector counters, as progress in U.S.-China trade talks raised optimism among investors.. . .  Full story

Hopes for Sino-U.S. trade detente lift Hong Kong shares

18/02 Shares in Hong Kong ended higher Monday after the U.S. and China cited progress in trade talks in Beijing last week, as investors hope that the countries may be able to reach an agreement. . .  Full story

China blue chip index surges to over 6-month high on trade talks, loan data

18/02 China's main stock indexes surged on Monday as investors cheered signs of progress in trade talks, and after banks extended record new loans in January, raising hopes that Beijing's attempts to encourage lending and investment. . .  Full story

India's central bank to discuss monetary policy transmission with banks

18/02 India's central bank will talk to lenders later this month about a pass-through on lower policy interest rates, said Governor Shaktikanta Das on Monday.. . .  Full story

Indonesian presidential hopefuls vow energy self-sufficiency via palm

18/02 Indonesia's two presidential candidates pledged to achieve energy self-sufficiency by boosting the use of bioenergy, particularly fuelled by palm oil, to cut costly oil imports by Southeast Asia's biggest economy.. . .  Full story

Headroom to cut rates does not exist - SBI Chairman to CNBC TV18

18/02 State Bank of India, the country's largest public sector lender, currently does not have any headroom to cut deposit rates and thus cannot cut its base lending rate, its Chairman Rajnish Kumar told news. . .  Full story

China's car sales tumble, road ahead bumpy

18/02 China's automobile sales fell for a seventh straight month in January, the country's top auto industry association said on Monday, as demand slowed in the world's largest auto market.. . .  Full story

Nikkei reaches 2-month peak, boosted by U.S.-China trade talks

18/02 Japan's Nikkei share average advanced to a two-month peak on Monday, with investor risk appetite lifted by growing expectations that the latest Sino-U.S. talks would ease trade tensions between the two economic superpowers.. . .  Full story

A year after India's biggest bank fraud, PNB on road for annual profit

18/02 One year after being hit by a $2 billion scam, India's Punjab National Bank (PNB) is set to return to annual profits and strong loan growth in fiscal 2020 even as investigations continue into. . .  Full story

JGBs steady to firmer after BOJ refrains from trimming purchase

18/02 Japanese government bond prices were steady to firmer on Monday after the Bank of Japan refrained from trimming its buying, with the benchmark 10-year JGB futures edging near their 2-1/2-year high touched last month.. . .  Full story

Architect of BOJ stimulus calls for big fiscal spending backed by

18/02 Japan must ramp up fiscal spending with debt bank-rolled by the central bank, the Bank of Japan's former deputy governor Kikuo Iwata said, a controversial proposal that highlights the BOJ's challenge as it tries. . .  Full story

Malaysian palm oil prices seen steady in 2019 - MPOC

18/02 Malaysian palm oil prices are set to hold steady in 2019 at an average of 2,303 ringgit ($565) a tonne, according to estimates by the Malaysian Palm Oil Council (MPOC), while global output of. . .  Full story

Thai economic growth strengthens in Q4 but election could impact 2019 pace

18/02 Thailand's economy grew at its best pace in six years in 2018, with fourth-quarter beating expectations on higher domestic demand and record tourism arrivals.. . .  Full story

Cash-hoarding Japanese firms please investors as share buybacks hit record

18/02 Japanese share buybacks have hit a record this fiscal year and are set to maintain the booming growth as cash-rich companies bow to pressure from investors and the government to boost returns and improve governance.. . .  Full story

DBS forecasts stable loan growth this year after record 2018 profit

18/02 DBS Group Holdings Ltd , Southeast Asia's biggest lender, forecast stable loans growth for 2019 after a robust increase in net interest margin drove an 8 percent rise in quarterly profit and a record annual. . .  Full story

Nikkei touches 2-month high as U.S.-China trade talks lift mood

18/02 Japan's Nikkei share average touched a two-month high on Monday as investor risk appetite increased amid heightened expectations that the latest negotiations would reduce U.S.-China trade tensions.. . .  Full story

Singapore Jan non-oil exports suffer biggest decline in more than 2 years

18/02 Singapore's exports stumbled more than expected in January, getting 2019 off to a bumpy start amid signs trade frictions are having an impact on Asia's trade-reliant economies.. . .  Full story

-India proposes more than $12 bln of pollution-reducing incentives

18/02 India has proposed incentives worth 885 billion rupees ($12.4 billion) to encourage power plants to install equipment to curb emissions and to develop infrastructure for electric vehicles (EVs), a government statement said on Friday.. . .  Full story

Japan Dec core machinery orders down 0.1 pct month/month

18/02 Japan's core machinery orders fell 0.1 percent in December from the previous month, government data showed on Monday. The fall in core orders, a highly volatile data series regarded as a. . .  Full story

Saudi Arabia signs oil agreement to supply Pakistan -minister

17/02 Saudi Arabia has signed an agreement to supply Pakistan with crude oil and petroleum products to secure its fuel needs, Saudi Energy Minister Khalid al-Falih said on Sunday on Twitter.. . .  Full story

Saudi crown prince signs $20 bln in agreements with Pakistan

17/02 Saudi Arabia has signed agreements with Pakistan worth $20 billion, Saudi-owned Arabiya TV quoted Saudi Arabia’s Crown Prince Mohammed bin Salman as saying on Sunday.. . .  Full story

China's ICBC wins approval to set up wealth management unit

17/02 Industrial and Commercial Bank of China (ICBC) , the country's biggest-listed lender by assets, has won approval to set up a wealth management unit, China's banking and insurance regulator said on Sunday.. . .  Full story

Qatar aims to build $20 bln sports sector ahead of World Cup

17/02 Qatar wants to attract more sports companies to the Gulf state, aiming to develop a $20 billion sports sector ahead of the 2022 World Cup, a senior official said on Sunday.. . .  Full story

UAE property developers’ earnings give Gulf markets a boost

17/02 Most stock markets in the Middle East closed higher on Sunday, reflecting a rally in global stock markets on Friday, and were also boosted by better-than-expected company results, particularly in real estate.. . .  Full story

Ethiopia and Djibouti sign deal to build gas pipeline

17/02 Ethiopia and Djibouti have signed a deal to build a pipeline to transport Ethiopian gas to an export terminal in the Red Sea state, officials said.. . .  Full story

IPO of remaining 50 pct of Kuwaiti bourse seen in Q4 2019 or Q1 2020 - official

17/02 The initial public offering for the remaining 50 percent of shares in the Kuwaiti bourse will take place in the fourth quarter of 2019 or the first quarter of 2020, said Abdulaziz AlMarzouq, commissioner. . .  Full story

China to lure foreign investment in state giants - regulator

17/02 China will seek to attract foreign investment in its larger state-owned enterprises (SOEs), which are undergoing reforms to make them more competitive, the head of the country's state asset regulator said.. . .  Full story

Qatar's real estate market faces reality check ahead of World Cup

17/02 Qatar's Doha Tower, a spike-tipped cylinder that glows orange at night, won an award when finished in 2012 amid a Gulf-wide real estate boom, but today about half of its 46 floors are empty.. . .  Full story

Iraq lowers Majnoon oilfield output to 104,000 bpd - source

16/02 Iraq has lowered production at its giant Majnoon oilfield to 104,000 barrels per day (bpd) this month from 220,000 bpd in January, in line with an OPEC supply agreement, a senior oil ministry source. . .  Full story

China cenbank weekly open market operations at a glance; PBOC drains 840 bln yuan YTD

16/02 The People's Bank of China (PBOC) has drained 840 billion yuan ($124 billion) on a net basis from money markets via open market operations (OMOs) so far this year.. . .  Full story

Lion Air plane skids off runway at Indonesian airport

16/02 A Lion Air passenger plane skidded off a runway outside a city on the Indonesian island of Borneo on Saturday during heavy rain, the airline said, adding no one was injured.. . .  Full story

Bank lending for 'real economy' key to boost China growth - official

16/02 China should encourage its banks to support smaller, private firms in the real economy, rather than forced lending or policies such as quantitative easing, a state newspaper quoted a central bank official as saying on. . .  Full story

Afghan Taliban likely to meet Saudi crown prince in Pakistan - sources

16/02 Saudi Arabia's Crown Prince Mohammed bin Salman is likely to meet Afghan Taliban representatives during his visit to Pakistan starting on Sunday, Pakistani government sources said, part of efforts to broker an end to Afghanistan's. . .  Full story

Malaysia's Axiata accepts offer for Singapore mobile operator M1

16/02 Malaysia's Axiata Group, the largest shareholder in Singapore mobile operator M1 Ltd, has accepted a bid from Singapore investors that valued M1 at S$1.9 billion ($1.4 billion).. . .  Full story

India proposes more than $12 bln of pollution-reducing incentives

15/02 India has proposed incentives worth 885 billion rupees ($12.4 billion) to encourage power plants to install equipment to curb emissions and to develop infrastructure for electric vehicles (EVs), a government statement said on Friday.. . .  Full story

India advises refiner to avoid U.S. system for Venezuela oil buying - source

15/02 India has asked one buyer of Venezuelan oil to consider paying the South American nation's national oil company PDVSA in a way that avoids the U.S. financial system, an Indian government source said, after Washington. . .  Full story

-Saudi Arabia shuts part of Safaniyah oilfield after power cable cut - source

15/02 Saudi Aramco has shut part of its Safaniyah offshore oilfield after a main power cable was cut by a vessel's anchor, a source familiar with the matter said on Friday.. . .  Full story