Bloomberg Reserve Bank of India’s (RBI) apparent tolerance of rupee gains is burnishing the appeal of Asia’s best carry-trade currency. RBI governor Urjit Patel already surprised analysts by raising a key interest rate last month, and now there’s little indication that officials are intervening heavily to slow currency gains—unlike some Asian counterparts. That’s all spurred Aviva investors to add to …

Bloomberg Singapore’s sovereign wealth fund GIC Pte ceased being the biggest shareholder in UBS Group AG after cutting its ownership by almost half, saying it was “disappointed” that it lost money during nearly a decade in which it was invested in the Swiss bank. GIC sold a stake of about 2.4 percent at 16.10 francs ($16.20) a share, according to …

Reuters Islamic banks have continued to expand their balance sheets and capital buffers, but the era of double-digit growth rates could be coming to an end while asset quality concerns creep up, an industry oversight body said on Tuesday. Islamic finance, which has its core markets in the Middle East and Southeast Asia, follows religious principles that forbid interest and …