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Bloomberg For India bull Robert Marshall-Lee, stock valuations near the highest level in almost a decade are no deterrence. The London-based money manager, who oversees 2.6 billion pounds ($3.4 billion) for Newton Investment Management, has stepped up allocations for Mumbai-listed equities to 31 percent, compared with their 9 percent weight in the MSCI Emerging Markets Index. He expects the rally ...

Bloomberg The pressure on consumers from the soaring cost of living was laid bare as Britain published its most complete picture of the economy in the first three months of the year. Britons saved a smaller proportion of their incomes than at any time on record and household incomes adjusted for inflation fell for a third straight quarter, the longest ...

Bloomberg A shift in how Europeans finance their cars is threatening to expose bondholders in the region to the same risk that’s been building in the US for decades. Buyers of notes backed by auto debt are increasingly vulnerable to drops in used-vehicle prices because more and more drivers in Europe are leasing cars and trading them in for new ...

Bloomberg Microsoft Corp. is planning a global sales reorganization to better focus on selling cloud software, according to people familiar with the matter. The restructuring is scheduled to be announced as soon as next week and will impact the Worldwide Commercial Business under Judson Althoff and Jean-Philippe Courtois’ global sales and marketing group, the people said. Job cuts are likely ...

Bloomberg Three days after Energy Secretary Rick Perry directed his staff to find ways to give a boost to coal and nuclear power, the rival wind industry kicked its lobbying response into action. The American Wind Energy Association would tap allies in Congress willing to weigh in with Perry and buy advertisements on “news channels closely followed by the Trump ...

Bloomberg President Donald Trump hasn’t decided yet whether to impose punitive measures on steel imports for reasons of national secur- ity, as the administration missed a self-imposed deadline to conclude its investigation. While the Commerce Department has until early next year to determine whether foreign-made steel threatens US security under Section 232 of the Trade Expansion Act, Secretary Wilbur Ross ...

DUBAI / AGENCIES The UAE’s AED522 billion Islamic banking assets will help fuel the growth of the country’s Halal sector, according to a research conducted by Orange Fairs and Events, organisers of the Halal Expo – Dubai, 2017. Seven Islamic banks out of the 23 registered commercial banks in the UAE represent nearly a fifth of the country’s banking assets. ...

DUBAI / WAM The Executive Team of the Global Innovation Index held its 4th meeting of the current year at the headquarters of the Ministry of Economy in Dubai, to examine the results of yearly report for 2017, where the UAE has achieved an important leap in its general ranking on the Index by six places compared to last year’s ...

DUBAI / WAM Imdaad, a Dubai-based facilities management (FM) firm, signed a three-year renewable agreement to provide FM services across over 500 mosques managed by the Department of Islamic Affairs and Charitable Activities (IACAD). The integrated FM contract, worth AED30 million (US$8.2 million) per annum, also includes over 1,200 homes associated with mosques. Imdaad will provide a comprehensive range of ...

DUBAI / WAM The Commercial Compliance and Consumer Protection (CCCP) sector at Dubai Economy and Souq.com, the Middle East’s largest online retail and marketplace website, have announced co-operation on the ‘Digital Protection’ initiative for consumer rights protection. The Memorandum of Understanding (MoU) signed by the CCCP and Souq.com aims at promoting consumer confidence in the region’s growing e-commerce industry and ...