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Bad loans surge under Rajan-led clean up

  Bloomberg India is due to announce a successor to central bank Governor Raghuram Rajan. To get a sense of what traders expect, look at bank stocks. The NSE Nifty PSU Bank Index, which comprises 12 state-owned lenders, has rallied 21 percent over the past two months, as speculation about Rajan’s exit intensified. That compares with about a 10 percent ...

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Steel in China climbs to 10-week-high

  Bloomberg Steel prices in Shanghai rallied after a local government in China’s top producing province ordered mills to restrict output at a time when inventories have shrunk to at least a six-year low. Steel reinforcement-bar, a benchmark product in the construction industry, for October delivery climbed as much as 5.5 percent to 2,563 yuan (US$383) a metric ton on ...

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BYD loses US$270mn electric bus order

  Bloomberg BYD Co said a Chinese bus operator canceled a major portion of a 1.8 billion yuan (US$270 million) order for electric buses after adjusting its traffic capacity. Shenzhen Western Bus Co. terminated an order for 2,228 electric buses, out of a total of 2,919 vehicles, after awarding the tender to a BYD unit, the automaker said in a ...

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Pokemon Go developer plans wider debut soon

  Bloomberg  Pokemon Go’s global rollout is being held back by the unexpected popularity of the game, which has shot to the top of download charts since it debuted less than a week ago. Niantic Inc, which developed Pokemon Go with Nintendo Co and Pokemon Co, is working to boost server capacity in order to keep up with data traffic ...

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Chile forecasts 2nd-biggest fiscal gap in a quarter century

  Bloomberg Chile’s government cut its forecast for growth this year and predicted the second-largest fiscal deficit in the 25 years after the unemployment rate jumped to a five-year high and mining revenue slumped. Gross domestic product will expand 1.75 percent, compared with the 2 percent forecast in March, Finance Minister Rodrigo Valdes told the Senate. The fiscal deficit will ...

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New York said to conditionally approve Aetna deal for Humana

  Bloomberg New York’s insurance regulator has conditionally approved Aetna Inc.’s $37 billion takeover of Humana Inc., one of the last state sign-offs needed for the deal, people familiar with the matter said. The transaction is still under review by U.S. officials. State insurance regulators have been conducting their own assessments, which are in some cases required before a transaction ...

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International tribunal rules against Beijing in South China Sea dispute

  The Hague / AFP An international tribunal ruled on Tuesday against China’s claims it had “historical rights” in the South China Sea in a bitter dispute that risks further stoking regional tensions. Manila — which had lodged the suit against Beijing —welcomed the decision by the Permanent Court of Arbitration but Beijing reacted furiously, saying it “neither accepts nor ...

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