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Bloomberg Citigroup Inc and ICICI Securities Ltd are among banks selected for UTI Asset Management Co’s planned initial public offering in Mumbai, according to people familiar with the matter. HSBC Holdings Plc, SBI Capital Markets Ltd and Kotak Mahindra Bank Ltd are also picked to arrange the Indian mutual fund’s share sale, said the people, who asked not to be ...

Bloomberg Indonesia’s budget deficit is set to widen this year as a weakening economy puts pressure on government revenue, Finance Minister Sri Mulyani Indrawati said. The manufacturing sector is struggling and commodity prices have dropped significantly, Indrawati told reporters Thursday in Jakarta. She said she’d issued a decree that would allow the government to widen the 2019 deficit and borrow ...

Bloomberg India’s top court ordered several telecom carriers, including Bharti Airtel Ltd, Vodafone Idea Ltd and many defunct ones, to pay the government as much as 920 billion rupees ($13 billion) in past dues, dealing a blow to the businesses already struggling to make profits and pare debt. The Supreme Court, in a ruling read out by a two-judge bench ...

Bloomberg Hong Kong’s small-cap listings are experiencing outsized gains on their debuts, and none more so than Singaporean companies. Four of them have gone public in Hong Kong in the second half of this year, opening 55% higher than their offer price on average and ending their first day up 58%, according to data compiled by Bloomberg. That compares with ...

Bloomberg China aims to buy at least $20 billion of agricultural products in a year if it signs a partial trade deal with the US, and would consider boosting purchases further in future rounds of talks, people familiar with the matter said. The $20 billion would take its imports of US farm goods back to around the level in 2017, ...

Bloomberg Microsoft Corp has won the sought-after JEDI cloud computing contract with the Pentagon valued at as much as $10 billion over a decade, dealing a blow to the market leader, Amazon.com Inc, which had been the front-runner. The decision, which was announced by the Defense Department, may be challenged by Amazon, according to a person familiar with the matter, ...

Bloomberg General Motors (GM) employees voted in favor of a new four-year labor agreement reached with the United Auto Workers (UAW), ending a nearly six-week-long strike that has cost the company about $2 billion and rippled through the US economy. The union said the deal was approved by 57.1% of its members, enough to ratify the contract and stop the ...

Bloomberg Orders placed with US factories for business equipment declined for a second straight month and shipments matched the biggest drop since 2016, the latest sign the dimmer global growth outlook and trade tensions with China are weighing on companies. The proxy for business investment — bookings for non-military capital goods orders excluding aircraft — fell 0.5% in September after ...

Bloomberg Apple Inc, which saw its shares touch a record high, just earned a new Street-high price target. Morgan Stanley raised its target to $289 a share from $247 a share, the highest among analysts and implying 20% upside from earlier closing price. The bank cited Apple’s upcoming TV+ release next month, contrasting with other brokers who have been less ...

Bloomberg Italy is attracting foreign investors to buy its bonds as the new government’s more conciliatory stance towards the European Union on budget issues should reduce the country’s risk premium further, the head of the country’s debt agency said. Speaking at a conference in Milan, Davide Iacovoni said the nation “is no longer under the radar of international investors as ...