Bloomberg China set its daily reference rate for the yuan at a stronger-than-expected level, with the central bank perhaps signaling efforts to support the currency following recent weakness. The PBOC put the fixing at 7.0692 yuan per dollar, 105 basis points stronger than the average forecast of analysts surveyed by Bloomberg. The spread is the most since February 3, the ...

Bloomberg IndusInd Bank Ltd., backed by the billionaire Hinduja brothers, surged the most on record, as investors poured into the stock after its founders said they are repaying a loan backed by shares of the lender. The shares jumped as much as 50%, the sharpest since the bank’s stock started trading in 1998, to 451.95 rupees in Mumbai. The rally ...

Bloomberg Unable to fill planes with passengers as the coronavirus destroys travel demand, airlines are instead using their fleets to transport more cargo, including medicines, smartphones and Korean strawberries. The likes of Cathay Pacific Airways, Korean Air Lines and American Airlines are hauling a greater amount of goods in the belly of their passenger planes to keep up with demand. ...