Bloomberg Manila Electric Co is slashing its capital spending budget by almost half as the largest Philippine power retailer sees lower demand this quarter, with the coronavirus outbreak shutting many businesses. Capital expenditure for infrastructure projects will be cut to 9.3 billion pesos ($183.38 million) from the 17.8 billion pesos initially planned at the start of the year, Meralco Senior …

Bloomberg At least three Indian brokerages have petitioned the courts to challenge the settlement of crude oil contracts at negative prices. Motilal Oswal Financial Services Ltd and PCS Securities Ltd are appealing to the Bombay High Court, which was expected to hear on April 27 their case against the decision by Multi Commodity Exchange of India Ltd. Religare Enterprises Ltd …

Bloomberg Malaysia’s state oil company is considering raising this year’s dividend to help the government fund its nearly $60 billion stimulus package, according to people familiar with the matter. Petroliam Nasional Bhd., or Petronas, could increase the payout by as much as $2.3 billion, said one of the people, who asked not to be named as the information is private. …