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Corporate News

Disagreements threaten US$14b dam project

KINSHASA: Serious disagreements between groups of Spanish and Chinese developers that want to build a 11,000MW hydropower plant in the Democratic Republic of Congo may scuttle plans for the US$14bil project, according to a report.

Business

Anil Ambani’s shipyard risks insolvency

MUMBAI: The shipyard controlled by embattled Indian tycoon Anil Ambani is facing the prospect of bankruptcy after failing to get creditors’ approval for restructuring 70 billion rupees (US$970mil) of debt, people familiar with the matter said.MUMBAI: The shipyard controlled by embattled Indian tycoon Anil Ambani is facing the prospect of bankruptcy after failing to get creditors’ approval for restructuring 70 billion rupees (US$970mil) of debt, people familiar with the matter said.

Business

Picking China’s bond bailout winners can net 30% returns in weeks

Shanghai: Venturing beyond bonds from state-owned issuers in China often involves more than just assessing credit risk. Investors need to make a call on whether authorities will bail out the borrower.

Business

Philippine tycoon’s firm in talks with Go-Jek for venture

MANILA: Ayala Corp is looking to hitch a ride on Go-Jek’s South-East Asia expansion with a possible investment in the ride-hailing company’s Philippine venture as it takes on regional giant Grab.

Auto

Musk touts Model Y launch as demand questions linger

San Francisco: Elon Musk said Sunday that Tesla would unveil its Model Y crossover in less than two weeks, as questions about store closures, employee layoffs and demand in the wake of waning US federal tax credits threaten the company’s growth narrative.