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Bloomberg China’s leverage crackdown is forcing local companies to confront their addiction to short-term bond sales that they use to roll over debt. The shock therapy is worsening the outlook for corporate defaults in the second half of this year after borrowing costs jumped to a two-year high. With yields surging, Chinese non-banking firms sold 131 billion yuan ($19.3 billion) ...

Bloomberg India’s wholesale price inflation slowed in May from a year earlier on the back of falling food costs, indicating subdued price pressures in the pipeline and adding to expectations that the central bank may lower interest rates in coming months. Wholesale price index rises 2.17 percent in May from a year earlier, compared with a median estimate of 2.9 ...

Bloomberg Nintendo Co. announced a slate of new titles for its new hybrid console Switch, moving to capitalize on early excitement for its newest video-game system. A Pokemon role-playing game for the Switch is in development, Kyoto-based Nintendo said Tuesday on a webcast at the start of the industry’s annual Electronic Entertainment Expo in Los Angeles. The company and Ubisoft ...

Bloomberg Fiat Chrysler diesel vehicles spewed pollution as much as 20 times the legal limit, according to testing by the same researchers who first recorded the excess emissions in Volkswagen AG’s diesel cheating scandal. The results shed new light on the US Justice Department’s allegations in a civil lawsuit last month that Fiat Chrysler Automobiles NV has used illegal “defeat ...

Bloomberg Shaw Communications Inc. sold its ViaWest data service business to Peak 10 Holding Corp. for C$2.3 billion ($1.7 billion), three years after the Canadian telecommunications company bought it for C$1.3 billion. ViaWest and Peak 10 combined will be North America’s largest privately held data center company, Shaw said in a statement. The deal frees up cash for Shaw to ...

Dubai / WAM The Mohammed bin Rashid Fund (MBRF), the financial arm of Dubai SME, an agency of Dubai Economy mandated to develop the small and medium enterprise (SME) sector, and Beehive, the first and only regulated peer-to-peer lending platform in the MENA region, providing innovative online financing solutions for SMEs, have signed an MoU to facilitate SME financing and ...

Dubai / Emirates Business Dubai has emerged as one of the top 10 destinations for international meetings, according to the latest edition of the International Meetings Statistics Report published last week by Union of International Associations (UIA). The report ranked 1,157 cities globally based on the total number of international meetings that took place during the year. Previously ranked 14th ...

Dubai / WAM Dubai Investments Real Estate Company (DIRC), a subsidiary of Dubai Investments, has announced the completion of preparation work, including excavation and shoring works, for the first phase of its AED3 billion Mirdif Hills project, currently under construction in the Mirdif area of Dubai. The first phase of Mirdif Hills includes 1,054 apartments in its three components, Janayen ...

Dubai / Emirates Business The Dubai Chamber of Commerce and Industry (DCCI) signed a memorandum of understanding (MoU) with Souq.com in a move designed to facilitate cooperation between the two entities and expand Chamber members’ access to the region’s e-commerce. Under the terms of the agreement, Dubai Chamber members can avail exclusive benefits offered by Souq.com, including free access to ...

Dubai / WAM Dubai Electronic Security Centre (DESC), signed an MoU with the University of Dubai to promote research in information security, telecommunications and information systems. The MoU was signed by Yousuf Hamad Al Shaibani, Chief Executive Director of DESC and Dr. Essa Mohammed Al Bastaki, Director of University of Dubai, in the presence of a number of representatives from ...