Bloomberg Axis Bank Ltd., India’s third-largest private-sector bank, slumped the most in two years after profit missed estimates and it forecast higher credit costs. The stock fell as much as 9.4 percent in Mumbai trading, the biggest intraday drop since August 2015, and traded 8.3 percent lower at 470.35 rupees as of 11:46 a.m. local time. The lender reported second-quarter ...

Bloomberg Lendify AB’s name may echo that of music streaming behemoth Spotify but the peer-to-peer lender’s real inspiration is vacation-rental giant Airbnb Inc. With lofty role models such as those, the unprofitable Stockholm-based company is planning a third financing round and has sold more bonds as it targets growing its loan book 40-fold over the next five years. Lendify is ...

Bloomberg Kenya’s central bank is communicating a sense of normalcy and continuity to investors amid uncertainty about the country’s protracted elections, Governor Patrick Njoroge said. Institutions including the nation’s courts show Kenya is a ‘mature’ democracy, Njoroge said. While liquidity in the country’s money markets is tight at the moment, it has “nothing to do with the political circumstances,” he ...

Bloomberg By relinquishing control of its C Series jets to longtime rival Airbus SE, Bombardier Inc. is scaling back its ambitions to build jetliners for the world’s airlines. The deal marks a step away from what had been touted as the crown jewel of Canada’s biggest aerospace company before it was tarnished by cost-overruns and trade disputes. With the future ...

Bloomberg Thai Airways International Pcl plans to return to the US market after a United Nations safety upgrade of Thailand’s aviation sector raised the odds of the Federal Aviation Administration following suit. The state-controlled carrier may add direct flights to America next year if the FAA promotes Thailand to its top safety category, said Krittaphon Chantalitanon, vice president of alliances ...

Bloomberg Sears Canada Inc. received court approval to begin liquidating its stores as the insolvent retailer moves to wind up 65 years of business after failing to adapt to changing consumer tastes. The Toronto-based chain’s plan to begin selling off its inventory on October 19 was approved by Justice Glenn Hainey in Ontario Superior Court of Justice. Gordon Brothers Canada ...

Bloomberg The man who helped put Skinny Pop in lunch boxes all over America is embracing Amazon.com Inc., the scourge of the grocery business. The biggest food companies, notoriously slow to respond to consumer whims and losing market share to nimbler upstarts, desperately crave innovation to keep ahead of Amazon’s threat. And Jason Cohen, the Skinny Pop guy, has been ...

Dubai / Emirates Business Azizi Developments, a fast growing real estate developer headquartered in Dubai for over a decade, announced the plan to launch a new mega community project in the heart of Dubai at an estimated cost of AED25 billion, further signifying the developer’s continued rapid growth in the region. The new project, whose name is yet to be ...

DUSHANBE / WAM The UAE participated in the 2nd Session of the Arab Economic and Cooperation Forum with the countries of Central Asia and the Republic of Azerbaijan, that was held at the ministerial level here. Led by Sultan bin Saeed Al Mansouri, Minister of Economy, the UAE delegation discussed with the President of Tajikistan Imam Ali Rahman ways of ...

Abu Dhabi / Reuters Abu Dhabi National Oil Co (ADNOC) is expected to issue as early as this week a project bond in the region of $3 billion, in what would be the United Arab Emirates oil major’s first public debt issue, sources familiar with the matter said on Tuesday. The bond, with a maturity longer than 10 years, would ...