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Bloomberg China’s yuan policy has blindsided forecasters once again. The sudden surge in the last four days — for the onshore exchange rate, it’s been the steepest gain in more than four months — pushed the currency beyond levels predicted by even the most optimistic analysts. Market watchers were caught off guard earlier in the year as well, when the ...

Bloomberg Neuberger Berman Group LLC said China will be a “hot spot” for competition among global funds as the importance of the nation’s capital markets grows. The New York-based firm, which is planning to start a private fund in China, estimates as many as five global managers will set up such operations in China by the end of this year. ...

Bloomberg Reliance Communications Ltd.’s lenders have agreed to a seven-month moratorium on the debt payments of Indian billionaire Anil Ambani’s wireless business, which had its credit rating slashed in the past month. Creditors have given Reliance Communications, or Rcom, time until December to sell its towers to Canadian asset manager Brookfield Infrastructure Group and merge the wireless business with Aircel ...

Bloomberg United Parcel Service Inc. is setting up a joint venture in China to haul more US-bound goods and capitalize on booming e-commerce in the world’s most populous nation. The partnership with S.F. Holding Co. will offer customers more routes, shipping capacity and service options, the companies said in a statement. S.F. Holding and UPS will each invest $5 million ...

Bloomberg Investors are lapping up mortgage bonds in Australia even as regulators and credit assessors step up their warnings about risks from the nation’s housing market. New residential mortgage-backed securities issuance has more than doubled so far this year to A$10.5 billion ($7.8 billion) from A$5.1 billion a year earlier, data compiled by Bloomberg show. More than half of the ...

Bloomberg As the European Union forges closer ties with China, the bloc is also moving to calm concern that Chinese exporters will destroy EU-based industries ranging from steel to solar. The EU will retain the scope to impose hefty levies against Chinese businesses that sell goods below cost in Europe under a planned tariff overhaul, according to Salvatore Cicu, an ...

Bloomberg Toyota Motor Corp. has sold its stakes in Californian electric carmaker Tesla Motors Inc., a spokeswoman for Japan’s largest carmaker said. The sale marks the end of collaboration between the two companies for now, Toyota spokeswoman Akiko Kita said by phone. Toyota held 1.43 percent in Tesla as of July 2016, according to data compiled by Bloomberg. In 2010, ...

Bloomberg Congressional Democrats might abandon their calls for raising the nation’s debt limit without any conditions, with House and Senate party leaders now discussing whether to use their leverage to try to prevent Republicans from enacting tax cuts for wealthy Americans. House Minority Leader Nancy Pelosi signaled the shift, telling reporters that “we’re not there to raise the debt ceiling ...

DUBAI / WAM Dubai Customs’ statistics has revealed that the value of Dubai external trade in the seven primary Ramadan foodstuff in 2016 reached AED16.34 billion. Sugar topped the list at AED5.1 billion, followed by rice at AED4.8 billion, nuts at AED3.7 billion, bottled water at AED1 billion, juices at AED873.8 million, dates at AED813.75 million, and flour at AED57.37 ...

Dubai / WAM Dubai Investments, the leading, diversified investments conglomerate listed on the Dubai Financial Market, has hosted the second round of the training session for ‘Sustainability Champions’ of the company and its subsidiaries. Held under the theme ‘For a Better Partnership within the Dubai Investments Family’, the session focused on the Sustainable Development Goals 2030, outlined by the United ...