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Bloomberg Surging steel prices and a new Indian insolvency law have set the stage for an industry-defining battle between tycoons and producers for more than $26 billion of the sector’s most-coveted assets. Creditors are seeking the approval of India’s new bankruptcy court to sell assets of as many as 40 firms, including steel producers. That’s spurred Lakshmi Mittal, head of ...

Bloomberg Bondholders of Reliance Communications Ltd., the embattled Indian mobile phone operator controlled by billionaire Anil Ambani, have hired advisers after the company defaulted on its dollar-denominated notes in November. Certain investors holding a significant percentage of the securities have formed a committee, which has appointed PJT Partners Inc. as its financial adviser and Kirkland & Ellis LLP as its ...

Bloomberg The US urged Russia to halt a renewed bout of fighting in the four-year conflict in eastern Ukraine following the Kremlin’s decision to withdraw from a military-monitoring mission. Ukraine, which has been battling Russian-backed insurgents near the two nations’ border since 2014, said eight civilians were wounded on Tuesday by heavy artillery and mortar fire. Two soldiers were killed, ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, launched the Mohammed bin Rashid Centre for Future Research. The centre will openly publish its research and outcomes to global academic and research communities and will adopt a new concept based on open and participatory international research among scientists. ...

Bloomberg President Donald Trump called Russia and China “rival powers” to the US but said he’ll continue to try to partner with them as he outlined a muscular foreign policy that attempts to turn his “America First” campaign pledge into statecraft. Trump’s first official national security strategy is in some ways little different from those of his predecessors. Its four ...

Abu Dhabi / WAM Louvre Abu Dhabi’s first special exhibition, ‘From One Louvre to Another: Opening a Museum for Everyone’, will open to the public on December 21 and run until April 7, 2018. The exhibition traces the history of France’s Musee du Louvre in the 18th century through 150 paintings, sculptures, decorative arts and other works of art from ...

DUBAI / Emirates Business With every passing year, workplace equality becomes a higher priority for organizations around the world – and those in the Middle East and North Africa (MENA) region are no exception. According to the ‘Working Women in the Middle East and North Africa’ survey by Bayt.com, the Middle East’s number one job site, and global online market ...

Bloomberg When Spanish Prime Minister Mariano Rajoy forced an election in the rebel region of Catalonia, the aim was to halt the political chaos after a declaration of independence by separatists that reverberated across Europe. Instead, more upheaval looks set to emerge. It’s going to be tough to discern any real winner from the vote on Thursday following a campaign ...

Bloomberg Didi Chuxing, the ride-hailing giant that vanquished Uber Technologies Inc. in China, is turning to franchising in Taiwan as it expands its business beyond the mainland. Didi plans to only operate as a taxi hailing platform in Taiwan and is seeking to work with existing drivers that it’s recruiting through its Facebook page. The recruitment is being done by ...

Bloomberg Tata Steel Ltd. plans to raise as much as $2 billion in a rights offer to help add capacity in India, where demand for the alloy is forecast to triple in over a decade. The money will be used to build and buy mills as well as to repay debt, the company said an exchange filing on Tuesday. The ...