Bangalore / AFP A group of Indian banks has petitioned a court seeking the arrest of corporate honcho Vijay Mallya, the beleaguered businessman accused of defaulting on hundreds of millions of dollars in loans, a lawyer said. Heavily indebted Mallya has been deep in a financial fight over his now-defunct Kingfisher Airlines, which owes more than $1 billion to a ...

ABUJA / BLOOMBERG Nigeria’s biggest manufacturing body has lobbied the central bank to sell dollars directly to its members, bypassing commercial lenders as it looks to counter a shortage of foreign-currency it says threatens thousands of jobs in Africa’s largest oil producer. The Manufacturers’ Association of Nigeria, which has about 2,700 members, proposed weekly auctions of dollars to manufacturing businesses ...

Bloomberg Banca Popolare di Vicenza SCpA’s owners approved a plan to raise as much as 1.8 billion euros ($2 billion) in an initial public offering and transform the cooperative lender into a joint-stock firm, a crucial step toward ensuring its survival. The proposals passed at a meeting in Vicenza, Italy, after the European Central Bank (ECB) warned that without a ...