Bloomberg The challenge is daunting: Convert an economy of more than 1 billion consumers, 29 states, 22 official languages, 9 million businesses all operating under a spider’s web of taxes, arcane regulations and competing political ambitions into a unified common market. But that’s the goal as India gets ready to roll out a goods-and-services tax after a 10-year battle …
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Bloomberg China’s boom in wealth-management products worth trillions of dollars, under scrutiny from regulators because of potential threats to financial stability, is slowing for now. Outstanding products issued by banks stood at 29.1 trillion yuan ($4.2 trillion) as of March 31, up 18.6 percent from a year earlier, according to the China Banking Regulatory Commission. The growth rate slumped …
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Bloomberg For all Donald Trump’s efforts to revive coal, market forces and some of his own supporters are vying to write their own version of America’s energy future. Divisions persist among the president’s supporters — and even within his own cabinet — about whether to continue subsidies for wind and solar power, enact a carbon tax, remain party to …
Read More »Bloomberg German business sentiment rose to the strongest level in almost six years in a sign that the momentum in Europe’s largest economy is set to continue. The Munich-based Ifo institute’s business climate index increased to 112.9 in April from a revised 112.4 in March. That compares with a median estimate of 112.4 in a Bloomberg survey of economists. …
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Bloomberg Wall Street is betting Sprint Corp. and T-Mobile US Inc. will soon revive talks on a blockbuster merger, but a recent surge in demand for wireless assets has Sprint exploring other ways to unleash value. Sprint’s parent SoftBank Group Corp. believes the company’s vast trove of wireless spectrum, which can be used for faster 5G services, has been …
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Bloomberg Royal Philips NV said a strong order book and resilient performance in markets including China and India would allow the Dutch health-care equipment provider meet sales targets, even as uncertainty surrounding US policy led hospitals there to delay spending. The company reiterated a full-year revenue growth target of between 4 percent and 6 percent for its health technology …
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Bloomberg Akzo Nobel NV said it would consider PPG Industries Inc.’s new unsolicited 26.9 billion euros ($28.8 billion) takeover bid, which the US rival extended with “one last invitation†for Europe’s largest coatings company to negotiate a deal. Akzo Nobel will “carefully review and consider†the proposal, the Amsterdam-based company said in a statement on Monday. PPG earlier offered …
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Bloomberg SLM Solutions AG has hired Lazard Ltd. to help it explore strategic options six months after General Electric Co. withdrew a 680 million-euro ($737 million) offer for the 3-D printing company, according to people familiar with the matter. The review could lead to the sale of a stake in the Luebeck, Germany-based company or even a complete takeover, …
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ABU DHABI / WAM The total value of 1,153 hospitality projects in the six members of the Gulf Co-operation Council (GCC) exceeded US$148.4 billion (AED544.62 billion) in the first quarter of 2017, according to a new report by project research and intelligence provider BNC Network. The GCC’s hospitality industry constitutes 7 per cent of all active projects in the …
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ABU DHABI / WAM The sixth session of the UAE-Azerbaijan Joint Economic Committee, held at the Grand Hyatt Hotel in Dubai, and co-chaired by Sultan bin Saeed Al Mansouri, Minister of Economy, and his counterpart, Shahin Mustafayev, Minister of Economic Development in Azerbaijan, concluded on a high note. Those at the committee’s meeting discussed economic co-operation and enhancing bilateral …
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