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Bloomberg The recovery in India’s rural economy is likely to curb bad loans and boost profit at financial companies that specialise in credit to the country’s villages, according to one of the biggest such lenders. Mahindra & Mahindra Financial Services Ltd., which offers loans for equipment and vehicles in 330,000 of India’s roughly 600,000 villages, is seeing business growing and ...

Bloomberg Toys ‘R’ Us Inc.’s creditors are pushing for a better deal for the Asian business. The unprofitable company, currently aiming to wind down its US operations, has asked for non-binding bids for its growing Asian unit by early April, according to people familiar with the matter. Toys ‘R’ Us is working with Lazard Ltd. on the sale process, seeking ...

Bloomberg Government officials in the US and Europe are demanding answers from Facebook Inc. after reports that Cambridge Analytica, the advertising-data firm that helped Donald Trump win the US presidency, retained information on tens of millions of Facebook users without their consent. Entreaties for the social-media giant to take responsibility evolved into calls for CEO Mark Zuckerberg to appear in ...

Bloomberg GKN Plc’s rival suitors offered additional sweeteners to win over the UK aerospace supplier’s shareholders, who are set to decide next week which side to support. Dana Inc. pledged to trade its stock in London following the US company’s planned takeover of GKN’s automotive unit, it said. Melrose said separately that it would bolster GKN’s pension plan, while easing ...

Bloomberg Samsonite International SA, the world’s biggest luggage maker, has its eyes on adding a handbag brand and is open to a deal that could rival its $1.8 billion purchase of Tumi, according to Chairman Timothy Charles Parker. Handbags would help Samsonite fill a gap as the company focuses on boosting sales of office gear and non-travel products to women, ...

Bloomberg European Union countries may decide this week whether to impose new political or economic sanctions on Russia after the UK accused Moscow of using a nerve agent on its territory, according to a senior Polish government official. “Poland supports the view that we should show solidarity within the EU and NATO and show Russia that it can’t cross new ...

Cairo / WAM President of Egypt, Abdel Fattah El Sisi, received His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, in Cairo on Sunday. During the meeting, attended by Sameh Shukry, Egyptian Foreign Minister, President El Sisi and Sheikh Abdullah discussed the brotherly relations between the UAE and Egypt, along with ways to enhance ...

ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has reaffirmed the directions of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, to provide the utmost support for the UAE family considering it as the nucleus of society. Sheikh Mohammed adopted the National Family Policy ...

Dubai / WAM Dubai Investments has announced that its private equity subsidiary Masharie LLC divested its 50% stake in Dubai International Driving Centre (Drive Dubai), for AED 35 million. The stake sale generated an internal rate of return (IRR) of 21 percent. Masharie was one of the founding partners of Drive Dubai in December 2012. Drive Dubai operates an 850,000 ...

DUBAI / WAM The Gulf job market is set to grow at an average rate of nine percent this year, according to research conducted by GulfTalent, an online recruitment portal. The results are based on GulfTalent’s survey of over 1,100 CEOs and executive managers of firms across the GCC. According to survey findings, the biggest factor driving employment growth is ...