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Bloomberg Shares of an Indian shadow lender plunged after the Reserve Bank of India rebuffed its plan to merge with a bank, blocking a path that may have helped other struggling non-bank financiers get better access to liquidity. Indiabulls Housing Finance Ltd plunged 19% to the lowest since March 5, 2014, in Mumbai after the plan to combine with Lakshmi ...

Bloomberg TPG Capital has paused a sale of its stake in privately-held Indian financier Shriram Capital as the country’s lingering shadow banking crisis hurts valuations, according to people with knowledge of the matter. The private equity’s plan to sell its 10% stake has been held back, and will likely resume only as soon as the next financial year starting in ...

Bloomberg Mexico’s antitrust regulator notified top banks that its investigator found probable evidence of cartel-like practices to manipulate government bond prices, according to people with knowledge of the matter. At least one bank received in-person notification that the regulator, known as Cofece, would try the case, said the people, who requested anonymity because the matter is private. Seven financial institutions ...

Bloomberg Julius Baer is recommending Hong Kong’s battered stock market as investor appetite fades after five months of protests, saying “times of crisis” are usually an opportunity to invest. The city’s stocks have appeal as valuations are suppressed and dividend payouts exceed the yields on government bonds by near the most on record, said Yves Bonzon, chief investment officer at ...

Bloomberg Hundreds of Hong Kong protesters barricaded a main road in Kowloon and lobbed petrol bombs at a train station on the 19th weekend of violent unrest in the city. While protesters had a full schedule of events planned for the weekend, some demonstrators have been debating whether to soften their tactics to avoid alienating more moderate supporters. Saturday’s march ...

Bloomberg North Korea warned Japan of undesirable consequences if its longtime adversary continues to interfere with its vessels, days after Tokyo sent fishermen back to the country following a collision in Japanese waters. Pyongyang also demanded that Japan compensate it for the damage it caused after “sinking” the North Korean vessel, the Korean Central News Agency reported, citing an unnamed ...

Bloomberg President Donald Trump, under siege from House Democrats weighing impeachment, suffered a stinging blow as a federal appeals court upheld a subpoena ordering his accountants to provide Congress with his financial records. The ruling, by a divided three-judge panel of the US Court of Appeals in Washington, means Trump will lose control of his long-secret financial records at Mazars ...

Bloomberg A powerful typhoon made landfall southwest of Tokyo on Saturday evening, bringing heavy rains and violent winds, knocking out power to thousands of homes and prompting local authorities to instruct more than a million people to evacuate. Tokyo and nine surrounding prefectures have ordered around 1.1 million people to leave their homes as Typhoon Hagibis threatens flooding and landslides, ...

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, Saturday welcomed Hazza Al Mansoori, the UAE’s first astronaut, as he returned to the UAE after eight days in space. Al Mansoori, accompanied by backup astronaut, Sultan Al Neyadi, landed at the Presidential Terminal ...

Abu Dhabi / WAM LI Yong, Director General of the United Nations Industrial Development Organisation (Unido), has said that the UAE’s hosting of the 18th session of the organisation’s General Conference in Abu Dhabi on November 2 was welcomed by the Industrial Development Board. This is in part because the two sides have a long-standing partnership and serve as co-chairs ...