News

  Bloomberg China’s bond issuers, faced with 9.7 trillion yuan ($1.4 trillion) of maturing debt this year, are stepping on the gas. Companies and governments sold 1.3 trillion yuan of onshore notes in March, about as much as in the first two months of the year combined, according to data compiled by Bloomberg that excludes certificates of deposit. Fitch Ratings ...

  Bloomberg Prime Minister Narendra Modi’s ambitious plans to spend a record $60 billion on India’s infrastructure this fiscal year may provide a much-needed boost to the rupee loan market after project-finance volumes slumped last year. Bank loan commitments for project financing may potentially double to 2 trillion rupees ($31 billion) this financial year, according to Muhund Kannappan, a credit ...

  Bloomberg Broadcom Ltd. has lined up financing from three Japan banks and private-equity firm Silver Lake as it bids for Toshiba Corp.’s semiconductor business, according to people familiar with the matter. The lending units of Mizuho Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Mitsubishi UFJ Financial Group Inc. plan to provide about $15 billion in loans, while ...

  Bloomberg Infosys Ltd. will return $2 billion to shareholders this year and pledged to raise dividends and stock-buybacks as it deploys more of its cash hoard after delivering a sales outlook that fell short of estimates. Starting this year, it will begin distributing as much as 70 percent of annual free cash flow, compared with a previous policy of ...

  Bloomberg BT Group Plc Chief Executive Officer Gavin Patterson faces a significant hit to his compensation after the company reduced its profit outlook in January and tripled a writedown from an accounting scandal in Italy. The board of the former UK phone monopoly is considering clawbacks of past management compensation due to the revised financial results from Italy as ...

  LONDON / AP International environmental groups are warning Britain’s government not to reduce its commitment to fighting climate change and wildlife poaching when it negotiates post-Brexit trade arrangements with other countries. Greenpeace, WWF, and Friends of the Earth have signed a letter to PM Theresa May stressing that environmental protection must remain a priority after Britain leaves the European ...

  Dubai / WAM Dr Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, issued a press statement on the occasion of the GCC Food Safety Day, marked annually on April 15 by the Gulf Cooperation Council (GCC) states as a special day to shed light on food safety issues and to raise public awareness about the importance ...

  ABU DHABI / WAM The Abu Dhabi City Municipality (ADM) and the Desert General Transport and Clearance Co. have signed a Musataha Agreement, under which the Company will design, build and invest a community market project in Mohamed bin Zayed City, Abu Dhabi, at cost AED172 million. After signing the agreement, Musabbah Mubarak Al Murar, Acting General Manager of ...

  Dubai / WAM The Dubai Women Establishment (DWE) has signed a Memorandum of Understanding (MoU) with Dubai Financial Market (DFM to foster bilateral collaboration and further women’s economic empowerment by encouraging their participation on the boards of listed companies. The move follows directives of HH Sheikha Manal bint Mohammed bin Rashid Al Maktoum, wife of HH Sheikh Mansour bin Zayed ...

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, and Prime Minister of UAE and Ruler of Dubai, urged Arab youth to evolve, adapt and learn to keep pace with a transforming world. In an open letter to the Arab Youth in the inaugural issue of Popular Science Arabia Magazine, he said, “We live in a time ...