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Bloomberg Shares of jewellers climbed in India after the government set the rate for gold under the uniform goods and services tax below expectations, signaling a potential recovery in demand in the world’s second-largest market. Titan Co. advanced as much as 15 percent to a record 542.50 rupees ($8.4) in Mumbai, while Tribhovandas Bhimji Zaveri Ltd. increased as much as …

Bloomberg In his air-conditioned office protected from the scorching heat and dust outside, S.M. Imran points at a white lined map pinned on his wall showing Power Cement Ltd.’s planned expansion at its plant in Pakistan’s arid southern Sindh province. Power Cement is aiming to triple capacity, riding a wave of Chinese-financed infrastructure projects across Pakistan valued at more than …

Bloomberg One MobiKwik Systems Pvt., one of India’s largest digital-payment providers, is pushing back its target for profitability by a year as it invests more in its business to capitalize on the government’s shock ban on high-value rupee notes. The demonetization drive announced late last year created a digital-payments market at least 30 times bigger than what the company had …

Bloomberg Canada’s trade deficit was wider than forecast in April, and there was further disappointment in revised figures showing larger gaps in the prior two months. Imports exceeded exports by C$370 million ($274 million) in April, Statistics Canada said in Ottawa. The median forecast in a Bloomberg survey of economists was for shortfall of C$20 million. In addition to the …

Bloomberg Euro-area manufacturing and services continued to expand at the fastest pace in six years, powered by growth in the region’s two biggest economies — Germany and France. A composite Purchasing Managers’ Index held at 56.8 in May, unchanged from the previous month, IHS Markit said on Monday, confirming a May 23 estimate. A gauge for services slipped slightly, while …

Bloomberg UK manufacturing activity maintained its momentum in May and confidence rose as strong domestic demand buoyed orders. IHS Markit’s Purchasing Managers Index was at 56.7 in May after reaching 57.3 the previous month, which was the highest in three years. The reading was better than economists had forecast and keeps the index comfortably above the 50 level dividing expansion …

Bloomberg A regulatory probe into PricewaterhouseCoopers LLP related to Tesco Plc’s accounting scandal was dropped as the Financial Reporting Council said there was little chance of an adverse finding in the case. The FRC said in a statement on Monday, however, that it would continue investigating other Tesco auditors. The decision is the latest twist in a nearly three-year-old saga …

ABU DHABI / Agencies The total value of Abu Dhabi’s trade in pearl, gemstones and precious metals amounted to AED4.7 billion during the Q1 of 2017 from AED3.3 billion during the corresponding period last year, a growth of 42.4 percent, according to figures released by Abu Dhabi Statistics. The growth is driven by entrepot, including the non- oil commodities coming …

DUBAI / WAM First Abu Dhabi Bank (FAB) has been named ‘Best Bank for Financing in the Middle East’ and ‘Best Investment Bank in the United Arab Emirates’ at the prestigious 2017 Euromoney Middle East Awards for Excellence. The Euromoney Awards for Excellence, now in their 26th consecutive year, were the first of their kind in the global financial publishing …

ABU DHABI / WAM The Under-Secretary of the Ministry of Interior, Lt. General Saif Abdullah Al Shafar, has discussed with the Ambassador of the Republic of Singapore to the UAE, Samuel Tan Tse Chi, ways to enhance bilateral cooperation and coordination in the security fields. Lt. Colonel Ahmed Saeed Al Mazroui, Head of the International Cooperation Department at the Ministry …