It’s been almost three years since Narendra Modi took over as prime minister of India—but, in many ways, it feels longer. Modi’s domination of Indian politics, and of Indians’ imagination, is complete; no alternative seems possible, every challenger has been defeated. But bad economics has a habit of catching up with its practitioners eventually. And for all his political ...

  Singapore Airlines Ltd. likes to project a certain consistency. Its female flight attendants wear a uniform that hasn’t significantly changed since the airline’s founding. The shares have traded for several years at an almost fixed price of S$10 apiece. And its board hardly ever takes on a cent of net debt. That’s about to change, Abhishek Vishnoi of Bloomberg ...

  For all the hand-wringing over when and how the Federal Reserve would begin tapering its massive bond-buying program, emerging nations appear to be relatively well-prepared for higher U.S. interest rates. Compared with the period before the 1997 financial crisis, many of them have ably shored up their defenses — freeing exchange rates, amassing foreign-exchange reserves and paring back their ...

  Bloomberg Saudi Aramco is seeking to boost its fuel-trading volume by more than a third as the world’s biggest crude exporter expands its capacity to refine oil to grab a bigger share of growing markets in Asia and Africa. Aramco, as Saudi Arabian Oil Co. is known, is building refineries in the kingdom and in Asia to help it ...

  Bloomberg After five years of snapping up more oil assets than any of its peers in North America, Crescent Point Energy Corp. is turning its focus to getting more out of them. Chief Executive Officer Scott Saxberg says that rather than scouting for new assets to buy, the company is trying to keep a lid on costs, drilling new ...

  Bloomberg Oil rose from its lowest close in a month amid estimates that while the US crude inventory glut is continuing to shrink, although refined products are growing more plentiful. Futures gained as much as 0.6 percent in New York after dropping 1 percent. US crude stockpiles are forecast to have decreased for a fourth week from a record ...

  Bloomberg OPEC is certain to extend cuts in oil output when its ministers meet later in May and will need to keep limiting production until as late as the end of 2018, a veteran market analyst said. The reaction of global crude inventories to the cuts will determine how long the Organization of Petroleum Exporting Countries and allied producers ...

  Bloomberg Truck Alliance Inc., an Uber-type service for trucks in China known as Huochebang, is near an agreement to raise about $156 million, people familiar with the matter said. The investment will be led by Baidu Capital, the investment arm of China’s largest search engine, and could be announced as soon as this week, said the people, who asked ...

  Bloomberg Ride-hailing giant Didi Chuxing is near an agreement to raise at least $5 billion in a deal that would make it the most valuable startup in China, according to people familiar with the matter. The round may close as soon as this week and would lift Didi’s valuation to about $50 billion, up from a previous $34 billion ...

  Bloomberg China’s run of solid economic indicators proved little consolation for its shaky financial markets in April. The dichotomy stems from a shift in the leadership’s focus towards reducing leverage — one that’s set to determine whether growth joins asset prices in heading down. Economists are practically unanimous in saying that reduced debt loads would be good for China’s ...