Bloomberg The New York Stock Exchange suspended U.S. trading of Brazil’s state-owned utility Eletrobras on Wednesday and began delisting procedures after the company said it would miss a deadline to submit its 2014 financial results. Centrais Eletricas Brasileiras SA, as the utility is formally known, has already delayed the filing to the U.S. Securities and Exchange Commission three times ...

  Bloomberg Delinquent loans at Indian state banks are rising unabated. Surging bad debt and higher provisions to cover for them caused 10 Indian state-owned lenders to report combined losses of Rs.153 billion ($2.3 billion) for the March quarter. The latest was Punjab National Bank, which reported a wider-than-estimated loss of Rs.53.7 billion this week. State Bank of India, the ...

  Reuters The Islamic Development Bank (IDB) governors agreed on Thursday to elect Saudi Arabia’s former haj minister as its new president starting at the beginning of the Islamic year, or in October. The nomination of Bandar Hajjar, whose candidacy was endorsed by the Saudi government and the outgoing IDB President Ahmad Mohamed Ali, was uncontested during an annual meeting ...