Canadian stocks rose, erasing earlier losses of as much as 0.3 percent to clinch a fifth week of gains, as a surge in Valeant Pharmaceuticals International Inc. offset a slump in oil and gold producers.
The largest-ever expansion of Middle Eastern oil-refining is poised to curb the region’s imports of gasoline, reducing dependence on shipments from India and Singapore and sapping margins for European and Asian processors.
Mukesh Ambani, chairman of India’s Reliance Industries Ltd., is in talks to buy New York-based talent agency IMG Worldwide Inc., the Indian Express newspaper reported today, citing an unidentified Reliance official.
Emerging stocks advanced, sending the benchmark gauge to a seven-week high, as Malaysian equities rallied after the ruling coalition won elections to extend its 55-year rule and higher oil fueled gains in energy shares.
Chevron Corp., the world’s third- biggest energy company by market value, reported first-quarter profit that exceeded analysts’ estimates after boosting natural gas output amid rising prices for the fuel.
Borrowers in Asia have stepped up the use of rebates to get wealthy individual investors to buy their dollar-denominated bonds, underscoring weakness in the market as returns dwindle to an 18-month low.
Bharti Airtel Ltd., India’s largest mobile-phone operator, agreed to provide billionaire Mukesh Ambani’s competing broadband venture data capacity on its submarine cable connecting India and Singapore.