Bloomberg Mozambique’s smaller banks should combine in an effort to overcome the blow dealt by government debt defaults after four lenders failed over nine months. The country’s debt crisis threatens to unravel efforts by the central bank to strengthen the nation’s financial system through the introduction of new capital and liquidity rules. Central bank Governor Rogerio Zandamela said last week …

Bloomberg Two and a half years after SpiceJet Ltd was forced to ground its entire fleet on its inability to pay a mere US$2.2 million in fuel bills, the budget airline has become the world’s best-performing airline stock — with US$26 billion in plane orders to boot. The company’s co-founder and Chairman Ajay Singh has played the white knight, injecting …

Bloomberg Thai Airways International Pcl said it plans to modernize its fleet by replacing almost 30 older aircraft over the next five years, adding to the climbing demand for planes in Asia. The state-run airline is seeking new generation aircraft offering greater comfort and fuel efficiency, and is talking with both Airbus SE and Boeing Co., Chairman Areepong Bhoocha-Oom said …