Bloomberg India’s Infrastructure Leasing & Financial Services Ltd. has sought to shield itself from being dragged to bankruptcy court as it tries to restructure its borrowings in the wake of a string of defaults that have sent shock waves through local markets. The company, which has missed more than five debt payments since August, filed an application with the National ...

Bloomberg After coming out all guns blazing, Nigeria’s central bank surrendered more ground in its tussle with MTN Group by giving a reprieve to one of the banks accused of illegally moving $8.1 billion out of the country. Standard Bank Group Ltd. said that the Central Bank of Nigeria won’t take more than $2.63 billion from the accounts of its ...

Bloomberg The UK warned that flights may be grounded if the European Union doesn’t grant reciprocal approvals to its planes and airlines in the case of a no-deal Brexit — a scenario it maintains remains unlikely, despite a recent setback in negotiations. Britain will continue to recognise European Aviation Safety Agency certifications for up to two years after March 29, ...

Bloomberg Sears Holdings Corp. is reviewing a proposal by Chief Executive Officer Eddie Lampert to keep the retailer alive by restructuring its debts and selling real estate. Plans outlined in regulatory filings include cutting debt by about 78 percent to $1.2 billion and extending near-term maturities, with annual interest savings of 80 percent. The proposal came from ESL Investments Inc., ...

Bloomberg Unilever is campaigning to convince a growing number of dissenting UK shareholders that the company’s plan to consolidate its headquarters in the Netherlands has merit. The Anglo-Dutch consumer giant’s move to Rotterdam will have “great benefits” for UK investors, Chief Financial Officer Graeme Pitkethly said in a Tuesday interview with the BBC Radio 4 station, noting that they would ...

Bloomberg New Jersey lawmakers gave preliminary approval to a jet-fuel tax that would force United Continental Holdings Inc. to pay for expanded passenger rail at Newark Liberty International Airport. Airlines are exempt from the state’s gross-receipts tax on petroleum products, with the exception of the fuel used during taxiing and take-off. A bill approved by the Senate budget committee would ...

Bloomberg Next Plc raised its sales and profit outlook for the year, a rare bright spot in a season of woe for UK retailers struggling against soaring summer temperatures and the threat of Amazon.com Inc. The apparel chain had warned in August that a boost to summer sales in early summer would wane as the season dragged on. Instead, the ...

Bloomberg Washington Real Estate Investment Trust (REIT) is exploring the sale of its retail portfolio, according to people familiar with the matter. The D.C.-based REIT is working with an adviser, which has contacted potential buyers, said the people, who asked not to be named because the information is private. The portfolio could fetch roughly $800 million, one of the people ...

Abu Dhabi / WAM The UAE will host the Interfaith Alliance Forum in the nation’s capital, Abu Dhabi on November 19-20, under the auspices of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. The announcement came during a press conference held at the Ministry of Interior ...

Abu Dhabi / WAM The UAE-Saudi non-oil trade has grown 1230 percent since the establishment of the GCC Customs Union in 2003 until H1 2018, according the statistics of the UAE Federal Customs Authority (FCA). The total non-oil intra-trade between the two countries amounted to AED720 billion ($196 billion) during the monitored period, with total UAE imports from the Kingdom ...