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Bloomberg Shares of jewellers climbed in India after the government set the rate for gold under the uniform goods and services tax below expectations, signaling a potential recovery in demand in the world’s second-largest market. Titan Co. advanced as much as 15 percent to a record 542.50 rupees ($8.4) in Mumbai, while Tribhovandas Bhimji Zaveri Ltd. increased as much as ...

Bloomberg In his air-conditioned office protected from the scorching heat and dust outside, S.M. Imran points at a white lined map pinned on his wall showing Power Cement Ltd.’s planned expansion at its plant in Pakistan’s arid southern Sindh province. Power Cement is aiming to triple capacity, riding a wave of Chinese-financed infrastructure projects across Pakistan valued at more than ...

Bloomberg One MobiKwik Systems Pvt., one of India’s largest digital-payment providers, is pushing back its target for profitability by a year as it invests more in its business to capitalize on the government’s shock ban on high-value rupee notes. The demonetization drive announced late last year created a digital-payments market at least 30 times bigger than what the company had ...

Bloomberg Canada’s trade deficit was wider than forecast in April, and there was further disappointment in revised figures showing larger gaps in the prior two months. Imports exceeded exports by C$370 million ($274 million) in April, Statistics Canada said in Ottawa. The median forecast in a Bloomberg survey of economists was for shortfall of C$20 million. In addition to the ...

Bloomberg Euro-area manufacturing and services continued to expand at the fastest pace in six years, powered by growth in the region’s two biggest economies — Germany and France. A composite Purchasing Managers’ Index held at 56.8 in May, unchanged from the previous month, IHS Markit said on Monday, confirming a May 23 estimate. A gauge for services slipped slightly, while ...

Bloomberg UK manufacturing activity maintained its momentum in May and confidence rose as strong domestic demand buoyed orders. IHS Markit’s Purchasing Managers Index was at 56.7 in May after reaching 57.3 the previous month, which was the highest in three years. The reading was better than economists had forecast and keeps the index comfortably above the 50 level dividing expansion ...

Bloomberg A regulatory probe into PricewaterhouseCoopers LLP related to Tesco Plc’s accounting scandal was dropped as the Financial Reporting Council said there was little chance of an adverse finding in the case. The FRC said in a statement on Monday, however, that it would continue investigating other Tesco auditors. The decision is the latest twist in a nearly three-year-old saga ...

Bloomberg Saudi Arabia, Egypt, the United Arab Emirates and Bahrain severed their ties with Qatar on Monday, accusing it of supporting terrorism and opening up the worst rift in years among some of the most powerful states in the Arab world. Iran—long at odds with Saudi Arabia and a behind-the-scenes target of the move—immediately blamed US President Donald Trump for ...

Bloomberg US Secretary of State Rex Tillerson again urged China to do more to rein in North Korea, saying it should use its growing clout responsibly. “China is a significant economic and trading power, and we desire a productive relationship,” Tillerson said in Sydney on Monday after security talks with Australian counterparts. “But we cannot allow China to use its ...

Bloomberg Concrete and metal barriers are being erected along the sidewalks on some of London’s bridges after terrorists used cars and vans to target pedestrians for the second time in just over two months. London police on Sunday evening said commuters could expect to see more officers on the streets and more physical measures on bridges, after at least three ...