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Indian e-tailer Flipkart ups odds of buying Snapdeal with raised bid -sources

Indian e-tailer Flipkart ups odds of buying Snapdeal with raised bid -sources

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Indian e-commerce firm Flipkart’s sweetened takeover offer of up to $950 million for Snapdeal has improved the chances of a deal between the two rivals, though some sticking points are still being hashed out, two sources familiar with the matter said. Leading homegrown online retailer Flipkart has revised its offer…

U.N. urges east Libya army to probe executions, suspend commander

U.N. urges east Libya army to probe executions, suspend commander

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The United Nations called for the Libyan National Army (LNA) which controls the eastern part of the country to investigate summary executions of prisoners. Its human right’s body and voiced concern at the fate of those still in their custody. The LNA is pushing to expand its presence in central…

Rio cuts 2017 iron ore guidance as rail work hits shipments

Rio cuts 2017 iron ore guidance as rail work hits shipments

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Rio Tinto lowered its forecast for shipments of iron ore in calendar 2017 by up to 10 million tonnes citing bad weather and ongoing work to modernise its rail lines. Iron ore shipments were expected at 330 million tonnes, down from an earlier forecast of 330 million to 340 million…

World Bank, Alibaba fund invest in Hong Kong-based fintech startup

World Bank, Alibaba fund invest in Hong Kong-based fintech startup

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Hong Kong-based startup CompareAsiaGroup has secured $50 million in funding from investors led by the World Bank’s commercial lending arm, as the personal finance management platform looks to develop its technology and launch more products. The International Finance Corp (IFC), as the World Bank unit is called, said it had…

Rouble at 6-month lows vs dollar as emerging FX takes hit

Rouble at 6-month lows vs dollar as emerging FX takes hit

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Russia’s rouble hit six-month lows against the dollar, mirroring moves in other emerging market currencies, on expectations of higher interest rates in a small but growing group of major economies. The rouble hit 60.91 versus the dollar, its weakest since Jan 6, and 69.42 versus the euro, its weakest level…

India’s June gold imports spike as buyers tried to beat higher sales tax

India’s June gold imports spike as buyers tried to beat higher sales tax

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India’s gold imports in June more than tripled from a year ago as retail demand jumped ahead of the start of a new sales tax that prompted jewellers and bullion dealers to replenish stocks, provisional data from consultancy GFMS showed. June gold imports climbed to an estimated 75 tonnes from…

Gold hovers near four-month low, undermined by firm dollar

Gold hovers near four-month low, undermined by firm dollar

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Gold prices hovered near four-month lows as the dollar held firm on expectations of tighter U.S. monetary policy as the market awaited a speech from Federal Reserve Chair Janet Yellen this week. Spot gold was down 0.3 percent at $1,210.34 an ounce at 0909 GMT, near $1,204.45, its lowest since…

Sudden loss of EU customs union access could cripple UK car supply chains – Honda

Sudden loss of EU customs union access could cripple UK car supply chains – Honda

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Britain’s departure from the European Union’s customs union would ramp up costs for small and medium-sized car part suppliers to such an extent that supply chains could seize up, a senior European executive at Honda said. Ian Howells, Honda’s European senior vice president, told an autos conference that the company…

Cheap debt allows private equity firms to reap more dividends

Cheap debt allows private equity firms to reap more dividends

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Private equity firms have used buoyant debt markets to take almost $3 billion in special payouts from European portfolio companies so far this year, quadrupling the same period in 2016. Buyout firms typically invest in a company for up to five years before “exiting”, but if they are unable or…

Modi to discuss H-1B visa issue with Trump next week – official

Modi to discuss H-1B visa issue with Trump next week – official

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Indian Prime Minister Narendra Modi will take up the issue of visas for skilled workers when he meets U.S. President Donald Trump next week in Washington, a senior Indian government official said. Trump has ordered a review of the U.S. visa programme for bringing high-skilled foreign workers into the United…

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