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Bloomberg One of India’s top microlenders is seeking about 60 billion rupees ($900 million) from banks and non-bank lenders to fund loan growth as demand from borrowers living in small towns and rural areas bucks the slump in the nation’s overall credit offtake. Satin Creditcare Network Ltd, whose assets exceed 70 billion rupees, needs the cash to meet its credit-growth ...

Bloomberg After a years-long drought, a wave of technology startups — Uber, Lyft, Pinterest and more — are going public, evidence that the sector is thriving. But there’s a shadow hanging over almost all of them. Seventeen of the 22 tech initial public offerings that aimed to raise $100 million or more in the last 18 months mention Amazon.com Inc ...

Bloomberg Applied Materials Inc, one of the largest makers of machines used to make semiconductors, is to buy Kokusai Electric from KKR & Co in a deal worth about $2.2 billion. Kokusai Electric will operate as a business unit of Applied’s Semiconductor Products Group and continue to be based in Tokyo, according to a statement. The deal is expected to ...

Bloomberg A downturn in UK manufacturing worsened in June as a gauge for the industry dropped to the lowest level since February 2013. IHS Markit’s Purchasing Managers Index for the sector showed a back-to-back contraction for the first time in more than six years. Production and new business returned the worst readings for almost seven years, with companies citing Brexit ...

Bloomberg Iran has surpassed a limit on its stockpile of enriched uranium and is preparing to scrap some key components of its nuclear deal next week, two state-run news agencies aligned with hardliners said in separate reports. The nation’s stockpile exceeded the 300 kilograms (661 pounds) of 3.67 percent enriched uranium that had been set as a limit as part ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has received the UN Secretary-General Antonio Guterres, who is currently visiting the UAE for the Abu Dhabi Climate Meeting that kicked-off on Sunday. More than 1,000 world-renowned political figures and climate action experts are ...

Abu Dhabi / Emirates Business Abu Dhabi Securities Exchange (ADX) announced on Sunday that it is reducing its trading commission fees starting July 1 thus making ADX among the Mena region’s least expensive stock markets with regards to trading commissions. This initiative is designed to reduce costs on investors, build confidence, increase liquidity, as well as attract more investors into ...

Dubai / WAM The Dubai International Financial Centre (DIFC), is set to make structuring and financing faster, economical, and more flexible. Under a newly introduced regime, structures such as Intermediate Special Purpose Vehicles and Special Purpose Companies will now be classified as ‘Prescribed Companies’. The new prescribed companies regime expands the previous regime to also allow certain firms to establish themselves ...

Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD), earmarked a grant worth AED1.8 million ($500,000) to support the North-Eastern Federal University (NEFU), in Yakutsk, Russia. Aiming to facilitate scientific research and molecular genetic analysis in the remains of ancient animals, the financial contribution has been allocated to acquire 36 types of industry-specific laboratory equipment for the university. This grant aims ...

Bloomberg In recent weeks, President Donald Trump has drawn the ire of security hawks in Congress for suggesting he could bargain away his blacklisting of Huawei Technologies Co to secure a trade deal with China. He took a big step towards doing just that, signalling that he cares more about selling US products to China than embarking on a clash ...