Bloomberg Indiabulls Housing Finance Ltd, a major Indian shadow lender that’s caught in the crosshairs of the troubles plaguing the industry, is seeking to bring forward a court hearing on fraud allegations after a record share slump. The development represents an effort to get out ahead of recent headlines that contributed to its share price losing an unprecedented 34 percent ...

Bloomberg Kiatnakin Bank Pcl, one of Thailand’s smallest publicly traded lenders, is open to a merger as competition from other banks and technology firms intensifies. The bank plans to expand its wealth management business, while being more cautious with automobile loans, one of its biggest lending areas, President Philip Chen Chong Tan said in an interview. Thailand’s aging population has ...

Bloomberg Nigeria’s central bank is increasing pressure on lenders to keep providing credit to boost economic growth in Africa’s biggest oil producer. The West African nation’s banking regulator raised the minimum loan-to-deposit ratio to 65 percent from 60 percent to “sustain the momentum” seen in lending since it first lifted the measure in July, it said. Banks have until December ...

Bloomberg Credit Suisse Group AG exonerated Chief Executive Officer Tidjane Thiam as one of his key allies took the fall for a corporate spying scandal that shook Zurich’s financial elite and tainted the bank’s reputation. Chief Operating Officer Pierre-Olivier Bouee, the CEO’s chief lieutenant at three companies for more than 10 years, stepped down after ordering detectives to shadow former ...

Bloomberg Pilots at Southwest Airlines Co, the largest operator of the beleaguered Boeing Co 737 Max, warned that the grounded plane may not resume commercial flights until as late as March. The carrier’s internal plans call for the Max to carry its first paying customers 45 to 60 days after US regulators lift a no-fly order on the plane, Greg ...

Bloomberg Mother Nature is figuring into consumers’ holiday spending plans this year. The environmental impact of fast-delivery options, which may include using planes and shipping multiple items separately, is a concern resonating with Americans, according to Accenture’s Annual Holiday Shopping Survey. Half of respondents said they’d choose options that leave a smaller carbon footprint, such as slower shipping or in-store ...

Bloomberg Richemont is acquiring Italian jewellery brand Buccellati to bolster its existing portfolio of Cartier and Van Cleef & Arpels. The Swiss luxury-goods maker bought the Milan-based brand from Gangtai Group Corp, a Chinese investment company, for an undisclosed price. Luca Solca, an analyst at Sanford C Bernstein, said it probably paid less than the $250 million the Shanghai-based investment ...

Bloomberg The UK’s accounting watchdog opened an investigation into Ernst & Young’s audit of Thomas Cook Group Plc’s financial statements after the 178-year-old tour operator collapsed. The Financial Reporting Council began the probe amid a growing political outcry over the failure last month, which cost thousands of jobs and left tourists stranded across Europe. The Big Four accounting firms have ...

GENEVA / WAM The UAE affirmed its support for the efforts of the UN Secretary-General and UN Special Envoy for Yemen to encourage conflicting Yemeni parties to implement all relevant Security Council resolutions, particularly Resolution 2216/2015, without conditions. The UAE’s statement was delivered by Ambassador Obaid Salem Al Zaabi, UAE Permanent Representative to the UN and Other International Organisations in ...

AMSTERDAM / WAM OCI N.V. and Abu Dhabi National Oil Company (Adnoc), on Monday announced the completion of their transaction to combine Adnoc’sfertiliser business into OCI’s Middle East and North Africa (Mena), nitrogen fertiliser platform, creating a world-leading joint venture. The combined company, which has been named Fertiglobe and is headquartered in the international financial centre Abu Dhabi Global Market, ...