Bloomberg A rally in bonds of China’s most-indebted developer has some analysts warning that steps to cut borrowings have yet to bring leverage down to healthy levels. China Evergrande Group said that it has agreed to sell its stake in China Vanke Co. for 29.2 billion yuan ($4.3 billion), freeing up cash as it cuts its debt load. That came …

Bloomberg Asia’s central banks are stacking the sandbags. Foreign-exchange reserves are being rebuilt as monetary authorities brace for the Federal Reserve’s third rate hike in six months. While the expected move has been well telegraphed, prolonged periods of Fed tightening can cause jitters for emerging markets. Asia was slammed in 2013 when then-Fed Chairman Ben Bernanke’s hint of an end …

Bloomberg Credit Agricole SA is considering selling part of its 31 percent stake in Saudi Arabian lender Banque Saudi Fransi, reversing earlier plans to completely exit the business, according to people familiar with the matter. France’s second-largest lender has discussed the partial sale of its Saudi operations with the country’s central bank, and has started talking to potential buyers, the …