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Bloomberg India’s car stocks have lost $42 billion in value in the last 16 months, and some analysts say the rout may not be over. A gauge of automobile companies has fallen 30 percent since reaching a record in December 2017, and is the worst-performer among 19 sector indexes in the nation’s equity market this year. That’s as the benchmark ...

Bloomberg Bharti Airtel Ltd, India’s second-biggest wireless carrier, is preparing to kick off the initial public offering of its Africa unit in a deal that could raise about $1 billion, people familiar with the matter said. Airtel Africa is planning to make a formal announcement about the London listing this month and aims to start trading in June, the people ...

Bloomberg When Li Xiting secured his company’s first contract at a medical-equipment convention in the 1990s, he was trembling with such excitem Today, Shenzhen Mindray Bio-Medical Electronics is China’s largest medical-equipment manufacturer, a $25 billion behemoth that has made Li, the chairman, Singapore’s third-richest person with a $7.2 billion fortune, and given fellow co-founder Xu Hang a $6.7 billion nest ...

Bloomberg Germany is considering whe-ther to impose a tax on carbon pollution or push to expand the existing European market in an effort to speed up the pace of reducing greenhouse gases. Chancellor Angela Merkel is calling for putting a price on the emissions from industries such as transport and buildings that are outside the European Union’s carbon trading program. ...

Bloomberg The euro area’s manufacturing slump showed tentative improvement in April as Italy’s contraction slowed markedly and French industry stopped shrinking. A Purchasing Managers’ Index came in at 47.9 in April, up from March and a touch above both economists’ estimates and a previous reading for the month. It was still below the 50 level that would indicate expansion. The ...

Bloomberg The cost of California’s controversial high-speed rail project grew to $79 billion, a development likely to embolden opponents such as President Donald Trump, whose administration is already seeking to cancel and claw back federal grants. The segment already under construction in the state’s agricultural region known as the Central Valley is now expected to cost $12.4 billion, up from ...

Bloomberg Volkswagen AG’s first-quarter profit beat expectations and the German carmaker said it’ll meet goals on deliveries and earnings for the year, excluding special items such as legal risks. Excluding legal items of about 1 billion euros ($1.1 billion), VW’s operating profit rose to 4.8 billion euros after boosting sales of lucrative sport utility vehicles and favourable exchange rates. The ...

Bloomberg A Blackstone Group LP unit that buys stakes in alternative asset managers is considering a minority investment in BC Partners, according to people familiar with the matter. Discussions between Blac-kstone Strategic Capital Hol-dings and BC are at an early stage and no deal has been reached, said the people, who asked not to be identified because the information is ...

DUBAI / Emirates Business The UAE non-oil private sector recorded a sharp monthly improvement in business conditions — the greatest since December 2017, according to Emirates NBD Purchasing Managers’ Index. The composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy rose for the second month running in April, hitting 57.6 from 55.7 ...

Bloomberg Cyclone Fani barrelled through the eastern parts of India, unleashing heavy rain and prompting authorities in the country and neighbouring Bangladesh to evacuate a total of more than 3.5 million people to shelters. At least eight people were killed as the windstorm swamped towns and villages, the Press Trust of India reported, citing government officials it didn’t name. Dhaka-based ...