The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.

Bloomberg One of India’s top microlenders is seeking about 60 billion rupees ($900 million) from banks and non-bank lenders to fund loan growth as demand from borrowers living in small towns and rural areas bucks the slump in the nation’s overall credit offtake. Satin Creditcare Network Ltd, whose assets exceed 70 billion rupees, needs the cash to meet its credit-growth ...

Bloomberg A gauge of activity in China’s manufacturing sector showed the economy remains fragile, underlining the need for the truce with the US forged at the weekend to be a lasting one. China’s manufacturing purchasing managers’ index stayed at 49.4, according to official data. That’s worse than the 49.5 forecast in a Bloomberg survey of economists, and still signals deterioration. ...

Bloomberg After a years-long drought, a wave of technology startups — Uber, Lyft, Pinterest and more — are going public, evidence that the sector is thriving. But there’s a shadow hanging over almost all of them. Seventeen of the 22 tech initial public offerings that aimed to raise $100 million or more in the last 18 months mention Amazon.com Inc ...

Bloomberg Blackstone Group LP is close to agreeing on a deal valued at about 950 million euros ($1.1 billion) to sell a portfolio of Spanish mortgages to CarVal Investors LLC, people with knowledge of the transaction said. CarVal’s bid topped offers from Goldman Sachs Group Inc and Elliott Management Corp, the people said, asking not to be identified as the ...

Bloomberg Applied Materials Inc, one of the largest makers of machines used to make semiconductors, is to buy Kokusai Electric from KKR & Co in a deal worth about $2.2 billion. Kokusai Electric will operate as a business unit of Applied’s Semiconductor Products Group and continue to be based in Tokyo, according to a statement. The deal is expected to ...

Bloomberg Apple Inc shares could gain as much as $25 over the coming months on a resolution to the China tariff dispute, removing “the albatross around [CEO Tim] Cook’s neck,” Wedbush analyst Dan Ives wrote in a note on Monday. The iPhone maker gained 3% in pre-market trading on Monday, among tech stocks rallying on Monday after President Donald Trump ...

Bloomberg A downturn in UK manufacturing worsened in June as a gauge for the industry dropped to the lowest level since February 2013. IHS Markit’s Purchasing Managers Index for the sector showed a back-to-back contraction for the first time in more than six years. Production and new business returned the worst readings for almost seven years, with companies citing Brexit ...

Bloomberg Iran has surpassed a limit on its stockpile of enriched uranium and is preparing to scrap some key components of its nuclear deal next week, two state-run news agencies aligned with hardliners said in separate reports. The nation’s stockpile exceeded the 300 kilograms (661 pounds) of 3.67 percent enriched uranium that had been set as a limit as part ...

Bloomberg Israeli war jets struck Syrian military positions from Lebanese airspace in the areas surrounding Damascus and the province of Homs, according to Syrian state media. Syria’s air defenses intercepted and destroyed a number of Israeli missiles, state-run Syrian Arab News Agency (Sana) reported, citing an unidentified military official. The strikes killed at least four civilians, including a baby, near ...

Bloomberg Venezuela’s government said it will investigate the death of a navy captain who was being held on charges of treason and attempted assassination of President Nicolas Maduro. Captain Rafael Acosta Arevalo, 49, was arrested along with three other soldiers and two police officials, joining dozens of people detained since an April 30 uprising against Maduro. Officials said the prisoner ...