Bloomberg HDFC Bank Ltd. reported net income growth of nearly 18% and ramped up bad loan provisions in the latest quarter, a period marked by the bailout of another bank as well as the imposition of a nationwide lockdown to stop the spread of coronavirus. Analysts remain bullish on HDFC Bank, with an average rating of 4.76 on a Bloomberg ...

Bloomberg ABN Amro Bank NV has become the latest lender to make a claim against a Singapore oil trading giant that filed for protection from creditors amid a plunge in oil prices. The Dutch bank filed applications for charges related to irrevocable letters of credit tied to goods and documents of Hin Leong Trading (Pte) Ltd., according to filings with ...

Bloomberg Australia shouldn’t be concerned about its escalating government debt in response to the coronavirus crisis because of the long record of responsible fiscal policy, Reserve Bank Governor Philip Lowe said. “If ever there’s a time to borrow, now is it,” the RBA chief told the Australian Broadcasting Corp.’s Four Corners program in a report on the scramble to combat ...

Bloomberg Sovereign bonds in India rallied after data showed the central bank bought debt earlier in the month, fuelling speculation that it will do more to support a market worried about record government borrowings. The yield on the benchmark 10-year debt fell 14 basis points to 6.21%, its biggest drop in a month. The 6.18% 2024 debt fell 21 basis ...

Bloomberg Foreign buyers are likely to steer clear of Indonesian bonds until the rupiah’s gyrations start to die down. That’s despite the value in the long end of the curve. International funds fled in the first quarter, with a record $8.7 billion in net foreign outflows, according to exchange data compiled by Bloomberg. Although Indonesian bond performance has improved, global ...

Bloomberg The mood at Deutsche Bank AG’s headquarters in Frankfurt was tense. It was late March, and clients were drawing down credit lines at such a rapid pace that the bank’s treasury department was on alert. Liquidity never was an issue, according to a person familiar with the matter. But the episode, which also attracted the attention of the European ...

Bloomberg US airlines face a bleak future of depressed traffic and volatile revenue well into 2021, as the global economy transitions from the acute damage of a public health catastrophe into a potentially long recession. Already a bumpy ride for the “Big Three” carriers, the journey promises to get worse this fall when billions of dollars in government assistance comes ...

Bloomberg Airbus SE will furlough around 3,000 staff across three French sites just as employees at its UK wing plants prepare to return to work following extended Easter shutdowns tied to the coronavirus outbreak. The staff at commercial aircraft sites in Toulouse, Nantes and Saint-Nazaire were expected to be on leave from Monday until mid-May following an accord with unions, ...

Bloomberg British billionaire Richard Branson said his airlines in the UK and Australia won’t survive the coronavirus crisis without state support, and that his Virgin Group lacks the resources to see them through the pandemic. Branson said on Monday he’s doing everything possible to keep Crawley, England-based Virgin Atlantic Airways Ltd going, but that it needs a UK-backed loan to ...

Bloomberg Zilingo, a fashion technology platform backed by Temasek Holdings Pte, has cut 5% of its 900-strong global workforce as part of a strategy to refocus on Asia and emerging markets, according to a person familiar with the matter. The Singapore-based startup dismissed 44 employees, including about 30 in the city-state, according to the person, who asked not to be ...