Bloomberg The Land and Agricultural Development Bank of South Africa is in talks with lenders after missing a loan payment and triggering an event of default, leaving its government owner liable for about $302 million of guaranteed debt. The state-owned provider of finance to the farming sector is seeking a waiver after failing to pay what it owed under the ...

Bloomberg India’s central bank may be reducing its intervention in the currency markets as volumes improve and volatility eases. The Reserve Bank of India likely sold a net $1.8 billion in the two weeks ended April 10, according to estimates by Bloomberg Economics. That follows likely sales of $7.7 billion in the spot forex market last month, which made the ...

Bloomberg UniCredit SpA became the first big European bank to try to quantify the impact of the coronavirus, setting aside 900 million euros ($977 million) to cover potential loan losses stemming from the outbreak. Italy’s biggest bank said it will book the provisions for possible soured loans after estimating that the pandemic will cause a 13% contraction in the eurozone’s ...