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Abu Dhabi fund approves additional AED1b for Mali

Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD) will provide AED1 billion to support the balance of payments and national housing project in Mali. ADFD has signed two agreements with the Government of Mali. These include an AED918 million ($250 million) concessionary loan to support the balance of payments in the country as well as an additional concessionary ...

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Saif Zone keen to attract international investors

SHARJAH / WAM The Sharjah Airport International Free Zone (Saif Zone), host to 8,000 companies, held a business meeting in Abu Dhabi, participated by more than 80 investors and businessmen representing multinational companies from Hong Kong, Malaysia, Singapore and representatives of business councils operating in the UAE. The meeting came as part of Saif Zone’s efforts to attract and introduce ...

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India issues tender for solar factories

Bloomberg India issued a new tender for solar power equipment manufacturing capacity totaling 2 gigawatts, the latest attempt to spur its domestic industry after two earlier efforts failed to rouse investor interest. The new tender, issued by the state-owned Solar Energy Corp. of India, seeks as many as four projects for module, cell, ingot and wafer manufacturing with annual capacity ...

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Japan to curb South Korea exports over colonial era row

Bloomberg Japan moved to cut off materials vital to South Korea’s all-important tech industry, escalating a long-running dispute between the neighbours over events dating back generations. Prime Minister Shinzo Abe’s government said it would slap export restrictions on highly specialised products needed to make semiconductors and computer displays, and might also remove South Korea from a list of trusted buyers. ...

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India can boost budget without stoking inflation, says expert

Bloomberg India’s government can offer fiscal stimulus to support economic growth in its budget next week without worrying about it being inflationary. That’s according to Kapil Gupta, an economist with Edelweiss Securities Ltd in Mumbai, who says a weakening economy and a possible US interest rate cut provide scope for India’s authorities to lift spending. Such a move wouldn’t undermine ...

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India microlender seeks $900mn to fund loan growth

Bloomberg One of India’s top microlenders is seeking about 60 billion rupees ($900 million) from banks and non-bank lenders to fund loan growth as demand from borrowers living in small towns and rural areas bucks the slump in the nation’s overall credit offtake. Satin Creditcare Network Ltd, whose assets exceed 70 billion rupees, needs the cash to meet its credit-growth ...

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China’s weak factory reports show need for lasting trade truce

Bloomberg A gauge of activity in China’s manufacturing sector showed the economy remains fragile, underlining the need for the truce with the US forged at the weekend to be a lasting one. China’s manufacturing purchasing managers’ index stayed at 49.4, according to official data. That’s worse than the 49.5 forecast in a Bloomberg survey of economists, and still signals deterioration. ...

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