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Bloomberg The playing field in India’s rapidly expanding market for digital payments is poised to get more crowded as the country races to catch up with China in squeezing out the use of cash, according to the head of the South Asian nation’s payments network. That means Indians will continue to face a bewildering array of payments apps provided by ...

Bloomberg China banned six people linked to a $4.3 billion scandal at one of the country’s biggest listed drug makers from participating in the securities industry. The financial reporting fraud at Kangmei Pharmaceutical Co. was “premeditated, organised, long-term and systematic,” the China Securities Regulatory Commission (CSRC) said in a statement. Kangmei Pharmaceutical said in May it overstated its cash positions ...

Bloomberg Indonesian President Joko Widodo proposed record government spending next year to drive the economy to its quickest projected growth in seven years, counting on stimulus and investment to overcome risks from a global slowdown and escalating trade war. Southeast Asia’s largest economy is forecast to grow 5.3% next year, the fastest pace since 2013, the president said in his ...

Bloomberg There are sell-offs and there are sell-offs. But what occurred in Argentina is on a scale of its own. The local stock market tanked 45% in dollar terms and bond prices tumbled 34% after a surprise in the primary election on August 11 that was widely seen as foretelling a victory for the opposition populists when the presidential vote ...

Bloomberg A key deadline is set to lapse on Monday that could lead to permanent US tariffs on Mexican tomato imports, with costs potentially hitting American consumers when the weather turns cold later this year. As of last week, the two sides had failed to reach an agreement to end an anti-dumping investigation over Mexican tomato imports and lift a ...

Bloomberg The UK will grapple with a shortage of fuel, food and medicine as well as job losses and a disruption at its ports of as long as three months with a no-deal Brexit, the Sunday Times reported, citing leaked government documents. The dossier called “Operation Yellowhammer,” prepared by the cabinet office, also warned that the supply of fresh food ...

Bloomberg Tesla Inc. will bring its solar technology business to Europe next year, Chief Executive Officer Elon Musk wrote on Twitter. Tesla Solar uses roof tiles with solar cells embedded inside to allow people’s homes to convert sunlight into electricity. Musk announced a re-launch of the design on Sunday, which he says could save $500 a year in utility bills ...

Bloomberg Shopify Inc.’s scorching rally and Lightspeed POS Inc.’s successful trading debut this year are throwing the spotlight on who might be the next Canadian tech star to go public. A total of C$1 billion ($751 million) was invested in 142 venture capital deals in the first quarter, up 48% from a year earlier, according to the Canadian Venture & ...

Bloomberg An IS affiliate said it was responsible for a suicide bombing attack at a wedding hall in Afghanistan’s capital that killed 63. More than 180 others were injured in the attack, which took place at 10:40 pm in the western part of Kabul, Nasrat Rahimi, a spokesman at the Interior Ministry, said by phone on Sunday. There were about ...

Bloomberg Yemen’s Houthi rebel government appointed its first ambassador to Iran, days after a delegation met Iran’s supreme leader Ali Khamenei in Tehran, the rebel-held Saba news agency. The appointment of Ibrahim Mohammed Al-Dailami is meant to boost ties between Yemen and Iran, the rebel ­­­said on TV. Al-Houthi said the relationship with Tehran will be better than it was ...