Bloomberg Myanmar has sufficient foreign reserves to avoid an economic crisis similar to Sri Lanka’s, the military government said, pushing back on suggestions by some analysts that the Southeast Asian nation faces a growing possibility of default. Major General Zaw Min Tun, a spokesman for the State Administration Council, said at a press conference on Tuesday that Myanmar has a ...

  Bloomberg Former Sri Lankan President Gotabaya Rajapaksa is expected to return home from Singapore where he has been staying for nearly two weeks after fleeing violent protests in the South Asian country where citizens called for his ouster. Rajapaksa has been the focus of protesters who blame him for a series of missteps that led to an economic meltdown ...

  Bloomberg UBS Group AG reported weaker-than-expected profit in the second quarter, as the global market sell-off kept wealthy clients on the sidelines and institutional investors pulled funds. The Zurich-based bank reported net income of $2.1 billion, compared with analyst estimates of $2.4 billion. The quarter was impacted by lower revenues at the key wealth management business, outflows in asset ...