Those who are awash in cash lack capital. Those who have adequate capital are thirsty for liquidity. That, in a nutshell, is the story of India’s financial crunch, and the surest way to ease it will require tapping Indians living overseas. In the past, New Delhi has resorted to such special hard-currency deposit programs to tide over balance-of-payment difficulties. A ...

Is central bank independence the next casualty of the age of populism? In the US, President Donald Trump has declared that the Federal Reserve is “going loco.” He blames Fed Chairman Jerome Powell for threatening “his” recovery and for market volatility caused in part by uncertainty over the trade war Trump himself started. In India, reports emerged this week that ...

Nomura Holdings Inc. will have to sharpen its focus and develop a more pronounced Japanese flavour overseas to move ahead. That means bulking up at home and cutting costs elsewhere. The 2016 profit recorded by Nomura’s international business is a distant memory after the securities firm shuttered much of its European stock trading. The company posted a rare quarterly loss ...