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Bloomberg Chanda Kochhar, chief executive officer of ICICI Bank Ltd. will be going on leave as a panel appointed by the lender probes allegations against her. The bank’s board, which met in Mumbai, has decided to accept her request for going on leave, according to exchange filings. Sandeep Bakhshi, CEO of ICICI Prudential Life Insurance Co., will be chief operating ...

Bloomberg The People’s Bank of China is using both money and words to try to ease market concerns about escalating trade tensions and the weakening economy. The central bank injected another 200 billion yuan ($31 billion) into the economy via its medium-term lending facility on Tuesday. Combined with the funds it added earlier this month, that’s a net injection of ...

Bloomberg Mario Draghi promised that the European Central Bank will take its time to lift interest rates, reinforcing last week’s agreement by policy makers to keep borrowing costs unchanged at least through the summer of 2019. “We will remain patient in determining the timing of the first rate rise and will take a gradual approach to adjusting policy thereafter,” the ...

Bloomberg If anyone’s looking for further evidence of a strong economy, here’s a sign: Wealthy individuals and companies are starting to snap up used private jets before they get too expensive. Take Steven Myers. A private equity financier and a licensed pilot, Meyers had been patiently looking to buy a jet for years. But when he began noticing a drop ...

Bloomberg Kraft Heinz Co. is considering a sale of children’s milk drink brand Complan in India, which could fetch about $1 billion, people familiar with the matter said. Kraft Heinz is working with an adviser to gauge interest in the business, according to the people, who asked not to be identified because the matter isn’t public. The brand could attract ...

Bloomberg Debenhams Plc plunged as much as 20 percent after the British department-store owner, struggling to compete with online rivals, cut its profit forecast for the third time this year and reined in spending on turnaround efforts. The latest warning deepens a UK retail crisis that has claimed longtime fixtures of the country’s shopping streets such as BHS and prompted ...

Bloomberg Airbus SE is studying options to extend the range of its A321 narrowbody plane ahead of a decision by Boeing Co. on whether to push ahead with a competing model, according to a person familiar with the matter. The A321, which already has a long-range variant that can fly 4,000 nautical miles, could get additional fuel tanks that would ...

Bloomberg After an attempt to play hard ball with defiant staff failed to end a bitter labour conflict, Air France is now trying a softer approach. The embattled carrier’s latest offer to workers: more rooms for rest breaks. At meetings with union representatives, who have called for a fresh round of strikes, management pledged to spend more to improve working ...

Bloomberg American Airlines Group Inc. affiliate PSA Airlines expects more flight cancellations on Tuesday after scrubbing about 400 flights over the weekend as the regional carrier moves into its sixth day of problems with its crew-scheduling system. The technology issue arose on June 14 and has affected nearly 1,100 PSA flights to date, mainly in Charlotte, North Carolina, American spokeswoman ...

DHALE / WAM Dhale Governorate celebrated the distribution of Eid clothing to the families of 1,225 martyrs, as per the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. During the launch of the distribution, which was held at the governorate’s headquarters, in the presence ...