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Bloomberg Reliance Communications Ltd. soared in Mumbai trading after it settled a payment dispute with the local unit of Ericsson AB, allowing the debt-laden phone operator to proceed with a planned asset sale to Reliance Jio Infocomm Ltd. and possibly stave off insolvency. RCom, as the company is known, advanced 6.6 percent to close at 18.65 rupees in Mumbai after ...

Bloomberg Spain’s Grupo Barcelo is considering an offer for HNA Group Co.’s $780 million stake in NH Hotel Group SA, people familiar with the matter said, setting up a potential challenge to Minor International Pcl’s pursuit of the hospitality operator. Closely held Barcelo is working with advisory firm Alantra Partners SA as it weighs a bid for the Chinese conglomerate’s ...

Bloomberg President Donald Trump ordered his energy secretary to take immediate action to stem power plant closures, arguing that a decline in coal and nuclear electricity is putting the nation’s security at risk. “Impending retirements of fuel-secure power facilities are leading to a rapid depletion of a critical part of our nation’s energy mix and impacting the resilience of our ...

Bloomberg Euro-area inflation hit the fastest pace in more than year, some good news for European Central Bank officials debating the future policy path just as turmoil in Italy revives memories of the debt crisis. The 1.9 percent rate, effectively in line with the ECB’s goal, was up from just 1.2 percent in April and above the 1.6 percent reading ...

Bloomberg Judging by some big boosts to US tracking forecasts following April merchandise-trade data and revised first-quarter growth, economists have turned decidedly more bullish about a pickup from the slow patch in early 2018. Analysts at Morgan Stanley raised their projection for second-quarter gross domestic product growth to a 3.3 percent annualised rate from 2.5 percent, while Macroeconomic Advisers by ...

Bloomberg Europe’s biggest debt collector, Intrum AB, says it doesn’t see the political turmoil in Italy hurting its business. “The way things look today, and” given “what we have on our books, we think that is very good debt,” said Louise Bergstrom, head of investor relations at the Stockholm-based company. Intrum, which operates in 24 countries, offers credit management services ...

Bloomberg Crispr Therapeutics AG plunged after the gene-editing company said a planned trial of its treatment to help people with sickle-cell disease was being put on hold by US regulators. Crispr is developing the therapy with Vertex Pharmaceuticals Inc., and the trial had yet to begin. The companies said in a statement that the Food and Drug Administration placed a ...

ABU DHABI / WAM On the occasion of the Year of Zayed 2018, the Department of Economic Development (DED) in Abu Dhabi has declared that it is exempting the establishments whose licences have expired for more than 24 months and who have applied for renewal, liquidation or cancellation of trade licence from paying all delayed and accumulated fees. Khalifa Bin ...

DUBAI / WAM Dubai Aerospace Enterprise, DAE, announced on Wednesday that its leasing division DAE Capital has recently signed three agreements to sell 16 aircraft with a total market value of nearly $900 million (AED3.3bn). The aircraft covered by these agreements include Boeing 737 and Airbus A320, A330, and A350 family aircraft, have an average age of two years and ...

GENEVA / WAM The UAE and Afghanistan have signed an MoU in the area of labour, on the sidelines of the 107th International Labour Conference in Geneva, Switzerland. The MoU was signed by Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, and Faizullah Zaki Minister of labour, social affair, Martyrs and disabled of Afghanistan. Al Hamli stated ...