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  Bloomberg China’s deleveraging campaign is providing a reality check to the fledgling municipal bond market. Set up in 2015 to bring transparency to local-government borrowing practices, the new market benefited from the perception that Beijing had the provinces’ backs, with yields largely on par with the sovereign despite some weak municipal balance sheets. Not anymore — a clampdown on ...

  Bloomberg Australia would block any attempt to move BHP Billiton Ltd.’s main sharemarket listing to the UK as proposed by New York-based activist investor Elliott Management Corp., Treasurer Scott Morrison said. “It is unthinkable that any Australian government could allow this original Big Australian to head offshore,” Morrison said in a statement. If BHP implemented Elliott’s proposals, “it may ...

  Bloomberg A surging rupee, rising currency reserves and a comfortable current-account gap could see India’s central bank consider relaxing rules on outward investments, paving the way for domestic companies to step up their shopping abroad, especially in Latin America and Africa. An uptick in overseas acquisitions would help keep a lid on the rupee, which is among the top ...

  Bloomberg Coal India Ltd. may keep production subdued after it fell to the lowest seasonal level in three years as the world’s biggest miner of the fuel seeks to cut inventories. Output in April dropped to the least for the month since 2014, and shipments surpassed production by the biggest volume in records going back almost four years. The ...

  Bloomberg Gold imports by India, the world’s biggest market after China, jumped to the highest level since 2014 in the first three months of the year, spurred by jewelers restocking for weddings and improving cash flow in the financial system, the World Gold Council said. Net inbound shipments more than doubled to 270.1 metric tons from 127.4 tons a ...

  Bloomberg Federal Communications Commission Chairman Ajit Pai wants to gut Obama-era net neutrality rules, but even he says the matter is best left to someone else: the lawmakers in Congress. Broadband companies AT&T Inc., Verizon Communications Inc. and Comcast Corp. support Pai’s initiative but also want Congress — rather than his agency — to step in and end a ...

  Bloomberg Activity in euro-area manufacturing and services accelerated more than initially estimated as growth in the region’s three largest economies converged. A composite Purchasing Managers’ Index rose to 56.8 in April from 56.4 in March, IHS Markit said on Thursday. An April 21 flash report was for an increase to 56.7. The spread between gauges for the rates of ...

  Thiruvananthapuram / Emirates Business Etihad Airways is celebrating 10 years of flying to the southern Indian state of Kerala with the introduction of additional flights to the popular destination. The airline has launched a fourth daily non-stop service between Kozhikode and its Abu Dhabi hub offering convenient onward connections to cities worldwide. The extra capacity takes to 63 the ...

  Dubai / WAM Hussain Nasser Lootah, Director-General of Dubai Municipality inaugurated the Meteorological Radar project, which was launched by the Municipality in the field of Geodetic Survey. The project is implemented as part of the development of the early warning system for weather forecasting and monitoring of climate change and its impact on all regions of the Emirate of Dubai. ...

  Bloomberg China is breaking out its mouthpieces — and wallet — as it seeks to soothe investors in the face of tighter financial market regulations. The central bank-run Financial News urged stock investors not to overreact to tougher regulations in front-page commentary on Wednesday. The monetary authority will prevent swings in liquidity from exceeding tolerable levels, the official Xinhua ...