Bloomberg India will begin work on its first all-weather highway to carry troops and hardware to its disputed Himalayan boundary with China and add 9,000 additional soldiers to bolster defenses at its border as tensions linger. The cabinet cleared the project to build a 4.1 kilometre (2.55 miles)-long tunnel through the mountains in the border state of Himachal Pradesh. …

Bloomberg Commerzbank AG said it expects profits for this year to be significantly above the €1.4 billion euros ($1.5 billion) earned in 2022, as rising interest rates continue to hand European lenders their best results in years. The Frankfurt-based bank reported net income of €472 million for the fourth quarter, beating analyst expectations, and said that the result for the …

Bloomberg Last year, most US investors and central bankers underestimated how high inflation would climb. Now they may be underestimating how high interest rates will need to go to bring it back down. In spite of the Federal Reserve’s most aggressive credit tightening campaign in four decades, the US economy and financial markets started the New Year with a bang. …