Bloomberg Credit markets are sounding warnings for other asset classes amid India’s unprecedented surge in Covid-19 cases. Firms have defaulted on at least 57 billion rupees ($763 million) of domestic bonds this year, the most on record for a similar period. Traders expect more. They’ve pushed spreads on A rated local corporate bonds over AAA notes to a 17-year high, …

Bloomberg The global climate summit could prove to be a catalyst for a rebound in Asia’s environment-related stocks, which have been underperforming the broader market this year. Aberdeen Standard Investments Ltd., BNP Paribas Asset Management and Pictet Asset Management are among funds suggesting the summit’s outcome can spark a green rally, after it brought the US back into the global …

Bloomberg The Organisation of Petroleum Exporting Countries (Opec) and its allies recommended proceeding with plans to gently revive oil production as global demand recovers from the pandemic, despite surging infections in India. A committee led by Saudi Arabia and Russia agreed the coalition can skip a full-scale ministerial meeting originally scheduled for Wednesday, and press on with its road-map for …

Bloomberg Prime Minister Mario Draghi has just days to perfect and finalise what he’s calling a “historic” project to rescue Italy’s economy from the pandemic and fix its structural weaknesses, using $315 billion of mostly European Union (EU) funds. A lot is riding on the plan. If it works, it would overturn the fortunes of an economy long regarded as …

KHARTOUM / WAM Dr Abdalla Hamdok, Prime Minister of Sudan, has commended the UAE’s stances in support of his country in international fora as well the UAE’s continuous efforts to make the transitional period a success. During his meeting with Hamad Muhammad Hamid Al Junaibi, UAE Ambassador to Sudan, Dr Hamdok praised the outstanding ties between the two brotherly countries. …

Bloomberg Even as the coronavirus pandemic continues to rage in many corners of the world, places that have successfully vaccinated a substantial share of the population are plotting the next step: how to let people start traveling again, whether for beach vacations or board meetings. By early summer, countries of the European Union and beyond aim to issue vaccine passports …

Bloomberg London’s Heathrow airport will be allowed to increase airline fees on a limited basis to help it ride out the coronavirus crisis, the UK’s aviation regulator said. Heathrow can claw back 300 million pounds ($416 million) after submitting an application to recover 2.6 billion pounds, the Civil Aviation Authority (CAA) said. While its full request will be considered in …

Bloomberg Australia is banning all flights from pandemic-ravaged India until at least May 15 as the South Asian nation battles what PM Scott Morrison described as a “terrible crisis.” In a bid to ease pressure on Australia’s system of mainly quarantining returned residents from overseas in inner-city hotels, Morrison had already announced a 30% cut in flights entering from India. …

Bloomberg Pick n Pay Stores Ltd’s next chief executive officer, Pieter Boone, plans to accelerate his predecessor’s eight-year turnaround of the South African grocer by focusing on stores that cater for lower-to-middle income consumers and by boosting online sales. “Pieter speaks of evolution and acceleration, rather than revolution,” David North, Pick n Pay’s executive for strategy, said in an interview. …

Bloomberg L Brands Inc’s Victoria’s Secret has restarted talks with buyers about a potential sale, and is seeking more than double the $1.1 billion value it had last year in a failed deal, according to people familiar with the matter. After strong recent sales, the company could now target a valuation of at least $2 billion to $3 billion in …