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Bloomberg India’s economy may be faltering, but its $2.1 trillion stock market has been powering to new highs as foreign investors pile into country’s shares, betting the worst may have already passed. Economic growth is at the lowest since before prime minister Narendra Modi came to power in 2014. The economy expanded 4.5% in July-September, slowing for a sixth straight ...

Bloomberg Bank of America Corp and Kotak Mahindra Capital Co are among banks Indian billionaire Radhakishan Damani picked for another planned stake sale in Avenue Supermarts Ltd, owner of the DMart brand, said people with knowledge of the matter. Damani selected the banks as he prepares to pare his stake in India’s largest listed retail chain by selling about 5.2% ...

Bloomberg Soybean futures climbed for the fourth straight day as officials signalled optimism that the US and China will reach a trade deal. China was processing applications for tariff waivers on imports of US soy, a procedural step that could set the stage for a broader agreement. The Asian nation is the top consumer of each commodity, and US shipments ...

Bloomberg Japan is looking to raise defence spending to a record 5.3 trillion yen ($49 billion) for the year starting on April 1, partly to develop a next-generation fighter jet, the Nikkei reported, without saying where it obtained the information. The amount compares with 5.26 trillion yen earmarked for defence for this fiscal year and includes more than 10 billion ...

Bloomberg SoftBank Group Corp’s massive investment in WeWork triggered a multi-billion-dollar writedown and a rare apology from founder Masayoshi Son. But one analyst argues the deal is likely to work in the end and SoftBank will have the “last laugh.” Chris Lane of Sanford C Bernstein says WeWork can have a bright future if SoftBank overhauls the business plan and ...

Bloomberg A US Supreme Court justice temporarily blocked subpoenas that would force Deutsche Bank AG and Capital One Financial Corp to turn over years of President Donald Trump’s financial documents to two House committees. Justice Ruth Bader Ginsburg put the subpoenas on hold until December 13. The justices are already scheduled to discuss at a private conference that day whether ...

Bloomberg Reddit said it was banning 61 accounts over suspected Russia-led meddling in the run-up to the UK’s December 12 election involving leaked trade documents.The social platform said the accounts violated its policies against vote manipulation and platform misuse. Reddit said its investigation occurred after Facebook discovered a Russian campaign on its network earlier this year dubbed “Secondary Infektion.” More ...

ABU DHABI / WAM HH Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region and Chairman of the Emirates Red Crescent (ERC), highlighted the distinguished position the UAE occupies in the field of humanitarian efforts regionally and internationally thanks to the efforts of Emirati volunteers. The UAE, under the leadership of President His Highness Sheikh Khalifa bin ...

Bloomberg The Organisation of Petroleum Exporting Countries (Opec) and its allies sent mixed signals about whether they were considering deeper production cuts, fanning oil-market speculation before crucial talks in Vienna this week. Iraq, which has the worst record among major producers of implementing the group’s current supply deal, pushed for steeper cutbacks. Oil Minister Thamir Ghadhban said the group should ...

Emirates Business The 26th edition of the World Islamic Banking Conference (WIBC), the largest and most prestigious gathering of Islamic banking and finance leaders in the world, kicked off at The Gulf Hotel Bahrain, in the Kingdom of Bahrain on Wednesday. The forum is spurring a series of discussions focusing on “mega trends in banking and finance”, a theme that ...