The end of Iceland’s nine years of capital controls is an occasion to celebrate for Icelandic businesses — and for those economists who, like Nobel Prize winner Paul Krugman, touted Iceland’s post-crisis recovery as an example of how it should be done. Yet even after almost a decade, Iceland may still need a relatively closed financial market for that ...

  European companies are rushing to sell bonds in dollars. After all, that’s where the investors are. So far this year, dollar-denominated syndicated new bond sales have exceeded $475 billion, a record for any quarter. A surprising amount — about 22 percent — has come from European issuers. Within this, about $81 billion is from euro-area companies, including banks, according ...

  In the dusty scrub of the Thar desert, Pakistan has begun to dig up one of the world’s largest deposits of low-grade, brown, dirty coal to fuel new power stations that could revolutionize the country’s economy. The project is one of the most expensive among an array of ambitious energy developments that China is helping the country to build ...