Tencent Holdings Ltd.’s strategy for expanding WeChat Pay globally is pretty straightforward: Follow the (tourism) money. Grace Yin, operations director of WeChat Pay’s international business, summarised Tencent’s approach at the RISE Conference earlier this month in Hong Kong: If a place has a Chinese tourist, then this place is our target. It’s a smart strategy. Simple, elegant and actionable with ...

India needs a strategy to get the government out of banking. Non-performing loans among state-owned banks — a legacy of India’s socialist past which account for nearly 70 percent of deposits — have crossed 5 percent of GDP. The central bank has restricted lending at 11 of them and forced one, IDBI Bank Ltd., to sell itself to the government-owned ...

Bloomberg Blackstone Group LP wants to crash the direct-lending party. In the seven months since dissolving a partnership with FS Investment Corp., Blackstone’s GSO Capital Partners unit has rebuilt its business making nonbank loans to small and mid-size companies. GSO has extended some credit already and plans to amass $10 billion of equity and debt capital for the effort in ...