Lisbon / AFP Chinese conglomerate Fosun will become the biggest shareholder in the ailing BCP, Portugal’s biggest private bank, by agreeing to buy a 16.7 percent stake, the two sides said Sunday. Fosun is paying nearly 175 million euros ($185 million) via a capital increase after an agreement reached on Friday. Portugal’s banking sector is saddled with debt and ...

  Bloomberg Ghana’s central bank cut its benchmark interest rate for the first time in more than five years after inflation slowed to the lowest rate since 2014. The Bank of Ghana cut the rate by 50 basis points to 25.5 percent, Governor Abdul Nashiru Issahaku told reporters on Monday in the capital, Accra. Five of the six economists in ...

  Bloomberg Shares of India’s big state-owned banks fell on the risk that the government’s recall of high-value currency notes will dent their profits. State Bank of India, the nation’s biggest by assets, declined by as much as 4.8 percent on Monday, its biggest intraday fall since Nov. 9 and the worst performance on the benchmark S&P BSE Sensex. Bank ...