March, 2017

• 20 March

  India needs private equity to create corporate losers

  

    Private equity in India is beset by a trinity of predicaments. The first is what managers get paid for: finding businesses that can deliver 20% returns in an economy where asset valuations, at least in public markets, are already the most expensive in Asia. A bigger problem is the frustration of knowing where the winners are hidden in the ...

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• 20 March

  UK bankers need to come clean on Brexit costs

  

    It’s a sad state of affairs when European unity is splintering before the UK has even officially triggered the process of leaving the EU. It’s worse for the City of London that banks and insurers can’t easily exploit that to their advantage. Regulators, officials and ministers across Europe have spent the past week throwing rocks at each other about ...

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• 20 March

  Vodafone, Idea agree on merger to create India mobile leader

  

    Bloomberg Vodafone Group Plc agreed to merge its Indian unit with Idea Cellular Ltd., joining forces with a local partner to confront a raging price war in the world’s second-largest mobile-phone market. The European carrier will own 45.1 percent after selling a 4.9 percent stake to billionaire Kumar Mangalam Birla’s holding companies, according to a stock exchange filing on ...

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• 20 March

  Flipkart raises $1bn to ‘beat’ rivals

  

    Bloomberg Flipkart Online Services Pvt has completed a $1 billion fundraising and aims to raise as much as $1 billion more over the next few months, according to people familiar with the matter, giving India’s largest e-commerce company capital to battle back against rising competition. Flipkart secured its latest funding at a valuation of about $10 billion, said the ...

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• 20 March

  Sydney airline grounds 5 planes after propeller drops off

  

    CANBERRA / AP Five Regional Express Airlines passenger planes had been grounded as a precaution after a near disaster in which a propeller fell off an airliner as it approached Sydney Airport, the Australian airline said on Monday. A Saab 340 carrying 19 passengers and crew landed safely in Sydney on Friday after one its two propellers fell off ...

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• 20 March

  Trump calls for privatising air traffic control operations

    Bloomberg President Donald Trump is calling for privatizing the nation’s air traffic control operations in his budget proposal, a top priority of the airline industry. The proposal says spinning off air traffic operations from the Federal Aviation Administration and placing them under an “independent, non-governmental organization” would make the system “more efficient and innovative while maintaining safety.” There are ...

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• 20 March

  Etisalat unveils ‘Create Your Number’ service

  

    Abu Dhabi / Emirates Business Etisalat postpaid subscribers can now make an online purchase of a customised mobile number based on their personal preferences from the comfort of their home. This is the first time in UAE customers can select, customise his/her mobile number and activate the same from any location in the country and offering a huge pool ...

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• 20 March

  Bringing baseball to Gaza

  

    KHAN YOUNIS / AP The young Palestinian women don baseball caps on top of their Islamic headscarves and field tennis balls with fabric gloves, giving a decidedly local feel to the great American pastime. They are trying to bring baseball to the Gaza Strip, an effort that is still in its early innings. The players, who work out on ...

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• 20 March

  Armed with $11bn, Thai oil giants hunt for investments

  

    Bloomberg The Asian energy companies sitting on the largest hoard of cash outside China are ready to put it to use. Thailand’s PTT Exploration & Production Pcl and its parent company have nearly $11 billion combined in cash and marketable securities, such as bonds and other short-term investments. The explorer is ready to spend from its portion on projects ...

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• 20 March

  GreenWish to invest $280mn in Nigeria solar power plants

  

    Bloomberg GreenWish Partners, a Paris-based independent power producer, will invest $280 million to build solar-power plants in Nigeria that are expected to start producing electricity in the first quarter of next year. A plant in the southeastern state of Enugu will produce 100 megawatts, while the company will build two others of 50 megawatts each in the northern Kaduna ...

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