Bloomberg Sales of previously owned U.S. homes dropped more than forecast in February after reaching the second-highest level since 2007 as low inventory levels continue to limit progress in housing. Closings on existing homes, which usually take place a month or two after a contract is signed, decreased 7.1 percent to a three-month low 5.08 million annual rate after a …

New Delhi / Bloomberg India is expanding its footprint in China’s backyard by forging deals with Russia for stakes in Siberian fields that supply Asia’s biggest economy and crude consumer. Deals last week between Rosneft and Indian state-run companies beefed up the South Asian nation’s share in two assets that are linked to the East Siberia-Pacific Ocean pipeline. That conduit …

Beijing / Bloomberg The International Monetary Fund (IMF) is pushing China to disclose data on holdings of derivatives that could shed light on more-opaque methods of intervention in the yuan’s exchange rate, the Wall Street Journal (WSJ) reported. The Washington-based lender is seeking data on the People’s Bank of China’s total holdings of forwards and futures, a step that would be in …