Bloomberg Australia upheld its decision to block foreign bidders from buying a majority stake in state-owned power network Ausgrid for more than A$10 billion ($7.6 billion), triggering a warning from China that the move will hurt bilateral ties. The deal would go against the national interest, Australian Treasurer Scott Morrison said in a statement on Friday, confirming last week’s …

  New Delhi / Bloomberg Prime Minister Narendra Modi promoted a deputy governor to lead India’s central bank, ensuring that sweeping reforms initiated under Raghuram Rajan would continue. Urjit Patel, who oversees the monetary policy department at the Reserve Bank of India under Rajan, has been appointed for three years, the government said in a statement on Saturday. Patel, 52, …

  Bloomberg Finance Minister Sri Mulyani Indrawati is putting trust-building at the top of her agenda as she tries to get more Indonesians to pay their taxes to raise funds for a massive infrastructure plan aimed at stimulating growth in Southeast Asia’s largest economy. “My job, first, is to restore confidence in the whole fiscal policy and our budget,” Indrawati …