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Bloomberg State Bank of India is seeking to recover two guarantees furnished by the former billionaire Anil Ambani, which according to a news report are worth more than $158 million. The state-run lender filed an application with the National Company Law Tribunal to appoint a resolution professional, according to an update on the court’s website. The tycoon, who had offered ...

Bloomberg One Hong Kong businessman moved $10 million to Singapore and plans to transfer more. Another is eyeing London property, worried that prices in Hong Kong are too high. Well-to-do families across the city are opening offshore bank accounts and applying for alternative passports. While it doesn’t add up to an exodus just yet, Hong Kong’s rich are increasingly hedging ...

Bloomberg The southwest monsoon, which waters more than half of India’s farmland, was expected to cover the entire western Maharashtra state including Mumbai in the next 24 hours, potentially hurting efforts to fight the virus outbreak in the city that’s emerged as the epicenter of infections in the South Asian nation. Conditions are becoming favourable for the weather system to ...

Bloomberg India’s Dharavi, the continent’s most crowded slum, has gone from coronavirus hotspot to potential success story, offering a model for developing nations struggling to contain the pandemic. Authorities have knocked on 47,500 doors since April to measure temperatures and oxygen levels, screened almost 700,000 people in the slum cluster and set up fever clinics. Those showing symptoms were shifted ...

Bloomberg European Central Bank (ECB) President Christine Lagarde and European Commission President Ursula von der Leyen are among leaders urging Italy to take advantage of the region’s proposed 750 billion-euro ($844 billion) recovery plan to speed up structural reforms. The so-called Next Generation EU plan is a “unique opportunity for Italy,” Von der Leyen said in a video message to ...

Bloomberg AstraZeneca Plc and four European Union countries said they reached an agreement to distribute a coronavirus vaccine. The Netherlands, Germany, France and Italy concluded a contract with the UK drugmaker to provide 300 million to 400 million doses of a possible vaccine in stages starting from the end of 2020, the Dutch government said in a statement on Saturday. ...

Bloomberg Chancellor of the Exchequer Rishi Sunak backed calls to ease the UK’s 2-meter social distancing rule to help the stalled economy get back to work, as he urged Britons to go shopping again. The government is conducting a “comprehensive review” of the regulation that requires people to remain 2 meters (6 feet 7 inches) apart in public to reduce ...

Bloomberg Fiat Chrysler Automobiles NV won its bid for an order to block US imports of Mahindra & Mahindra Ltd.’s Roxor off-road vehicle that it said copies the look of the iconic Jeep Wrangler, the International Trade Commission said in a notice posted on the agency’s website. The commission upheld, with modifications, a judge’s finding that Mahindra’s off-road vehicle is ...

Bloomberg Stores on Oxford Street, London’s most famous shopping thoroughfare, will open Monday for the first time since March. The question is how many customers will show up. After locking down to slow the spread of the coronavirus, retailers in the capital and across England are desperate to get back to business. They’re rushing to install sneeze screens, “sanitation stations,” ...

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 reviewed ways of further developing the strategic partnership between UAE and France over a phone call with French President Emmanuel Macron. The two leaders discussed the latest developments in the region, with a ...