Bloomberg China will allow local governments to sell another 848 billion yuan ($122 billion) of debt before March, as authorities seek to offset the economic shock of the coronavirus. The new quota includes 558 billion yuan of local government debt as well as 290 billion yuan of so-called special debt, according to a Ministry of Finance statement on Tuesday. The …

Bloomberg Mastercard Inc won approval to set up a bank card clearing business in China, gaining access to a $27 trillion payments market as part of the nation’s financial opening. The announcement by the People’s Bank of China (PBOC) on Tuesday signals the country is moving ahead with the speedier opening of its financial system that was agreed on as …

Bloomberg When a former Yes Bank Ltd executive started selling his stake in September, the Indian lender’s top managers watched for any sign that the resulting drop in share price would trigger a rush to withdraw deposits. The stock sales came as customers of a regional lender — Punjab & Maharashtra Co-operative Bank Ltd — were lining up outside its …