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Bloomberg Jack Ma’s online bank is leading a quiet revolution in the way China lends to small businesses, taking aim at a credit bottleneck that has held back Asia’s largest economy for decades. Using real-time payments data and a risk-management system that analyses more than 3,000 variables, Ma’s four-year-old MYbank has lent 2 trillion yuan ($290 billion) to nearly 16 ...

Bloomberg It once looked like Anil Agarwal could shake up the mining industry by amassing the biggest stake in Anglo American Plc. But in the end the Indian tycoon’s lack of financial firepower forced him to unwind his investment. For two years, Agarwal kept insiders and Anglo executives guessing about why the billionaire decided to take a position in the ...

Bloomberg Pfizer Inc plans to combine its off-patent business, which includes Lipitor cholesterol pills and male-impotence drug Viagra, with Mylan NV and form a generic drug giant, according to people familiar with the matter. The deal, if completed, could be announced as early as Monday, said the people, who asked not to be identified because the negotiations are private. Under ...

Bloomberg Apple Inc’s suppliers are preparing to produce components for up to 75 million new iPhones in 2019’s second half, roughly the same number as a year earlier, according to people familiar with the matter. The volumes planned for the next iPhone launch cycle would signal steady demand for the company’s most important product, despite US-China trade tensions and a ...

Bloomberg The ability to stream YouTube and Netflix when a Tesla vehicle is not moving is coming soon, Tesla CEO Elon Musk said on Twitter. The change may come in August but wouldn’t take “more than a few months,” Musk said while responding to a Twitter user. Tesla owners will be able to stream while the car is moving once ...

Bloomberg UK Prime Minister Boris Johnson formed a war cabinet of six senior ministers to plan for exiting the European Union by October 31, as a key adviser said leaving without a deal had become a very real prospect, the Sunday Times reported. Johnson’s most senior aide, Dominic Cummings, a key leader in the 2016 Brexit campaign, called advisers to ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received in Abu Dhabi on Saturday His Majesty King Abdullah II of Jordan, who is currently visiting the UAE. His Highness Sheikh Mohamed bin Zayed welcomed King Abdullah’s visit, which stems from the keenness ...

ABU DHABI / WAM The UAE is a major contributor to and supporter of the humanitarian and development efforts being made by the government and people of Ethiopia to assist displaced persons and people affected by adverse humanitarian conditions, said Tagesse Chafo, the Speaker of the Ethiopian House of Peoples Representatives. ‘‘The UAE has always been at the forefront in ...

ABU DHABI / Emirates Business Abu Dhabi Securities Exchange (ADX) announced on Saturday that it has issued an environmental social & governance (ESG) disclosure guidelines for listed companies. The launch of this set of 31 key performance indicators (KPIs) is aligned with ADX strategy which is designed to support economic growth, while providing a sustainable trading environment and encouraging the ...

Abu Dhabi / Emirates business Abu Dhabi-based real estate developer Imkan announced the acquisition of a substantial plot of land in Egypt’s New Cairo district and the appointment of a new CEO for the Egyptian arm of its real estate business, Imkan Misr. Walid El-Hindi, CEO, Imkan, said: “Our latest plot acquisition in New Cairo is a clear indication of ...