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Bloomberg An electric-vehicle revolution is gaining ground in India, and it has nothing to do with cars. The South Asian country is home to about 1.5 million battery-powered, three-wheeled rickshaws — a fleet bigger than the total number of electric passenger cars sold in China since 2011. But while the world’s largest auto market dangled significant subsidies to encourage purchases ...

Bloomberg Naspers Ltd. is planning to increase its stake in Indian online food-delivery business Swiggy as the startup plots its third fund-raising round of the year, according to people familiar with the matter. Africa’s largest company by market value has indicated that it intends to support a financing that could raise more than $600 million, Swiggy’s biggest to date, according ...

Bloomberg Microsoft Corp. posted another quarter of brisk revenue growth driven by cloud services, underscoring the company’s success in shifting its business towards internet-based computing. The stock rose in early trading. Profit and sales for the period ended on September 30 exceeded analysts’ estimates, with revenue from Azure cloud-computing services jumping 76 percent. Office 365, the internet- based versions of ...

Bloomberg Issuance of second-lien loans in Europe has surged this year as more borrowers tap into the growing appetite from private debt investors who are keen to source higher-yielding paper. Supply volumes have been further boosted by a handful of larger transactions that includes this week’s 500 million euro ($571 million) second-lien loan for hearing-aid maker Sivantos Pte Ltd. and ...

Bloomberg Daimler AG has its work cut out to get a fourth-quarter earnings bounce. After two consecutive profit warnings, the German manufacturer of Mercedes-Benz cars sees improvements by clearing out vehicle stock in Europe and maintaining sales momentum in China, the Stuttgart-based company said in a statement. Neither will be easy. “Daimler is certainly not alone when hoping for a ...

Sharjah / WAM During its participation in the World CEO Forum, the Sharjah Airport International Free Zone (Saif Zone) Authority stated that the achievements of SAIF Zone help to demonstrate and reflect Sharjah Government’s commitment to free trade. The Saif Zone Authority also stated that the various unique services that it offers have enabled it to develop into a leading ...

Dubai / WAM Mohammed bin Rashid Centre for Government Innovation (MBRCGI), has launched the first Arabic Playbook for Innovation Learning to enhance competencies of government employees, and develop their innovative skills to find solutions for future challenges. The playbook was developed in cooperation with Nesta, a UK-based innovation foundation. The playbook is part of the MBRCGI’s efforts to promote innovation, ...

ISLAMABAD / WAM Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State, has said that the UAE wise leadership attaches great importance and particular attention to enhancing historic ties with Pakistan, which are based on strong pillars of respect, mutual confidence and conformity on all regional and international issues. He said this while leading a UAE high profile 15-member ...

NEW YORK / WAM The UAE has outlined its efforts in constructing a strong and sustainable space sector that contributes to regional and international efforts to promote space exploration, and its development of advanced technologies to enhance the quality of life and contribute to the overall achievement of the Sustainable Development Goals at the United Nations General Assembly. The UAE’s ...

Bloomberg Sri Lankan President Maithripala Sirisena suspended parliament, deepening a power struggle that has led to the return of former strong-man president Mahinda Rajapaksa and could herald closer ties with China. On Friday evening, Sirisena unexpectedly dismissed Prime Minister Ranil Wickremesinghe and appointed Rajapaksa—who ruled between 2005 and 2015—as his replacement. Wickremesinghe is contesting his removal and is likely to ...