In a continent where politics is still painted as a battle between the left and right wing, Peru is hard to place. Consider Sunday’s presidential election, in which an election-eve poll showed Pedro Pablo Kuczynski pulling slightly ahead of former frontrunner Keiko Fujimori. Both candidates are business-friendly pragmatists who have pledged to respect the free market, keep the country ...

  AFP India is committed to protecting state banks suffering from mounting bad loans after they reported almost $2.7 billion in losses in the last two quarters, Finance Minister Arun Jaitley said on Monday. The banks are struggling under a mountain of soured loans, prompting central bank governor Raghuram Rajan to set a 2017 deadline for them to clean up ...

  Bloomberg Policy makers should move beyond short-term budget and inflation targets that leave their economies exposed to longer-term debt bubbles like the ones hindering growth since the 2008 financial crisis, Bank of Canada Governor Stephen Poloz said. Central banks with inflation targets like Canada’s are finding that the benefits gained from short-term stability can create dangers in the background ...

  BLOOMBERG Ghana is considering raising money through private bank loans, abandoning plans to sell as much as $1 billion of Eurobonds on concern its inability to raise targeted budget revenue may spark an investor selloff. With-lower-than-expected oil prices, the government can’t raise all the revenue needed to meet the budget gap, the Ministry of Finance said in a statement ...

  Bloomberg The level of inflation Bank of Russia Governor Elvira Nabiullina just deemed ‘ unacceptable’ is looking better by the day. So much so that its failure to accelerate in May could force the central bank’s hand to ease policy for the first time in almost a year when it reviews interest rates this week. Price growth was unchanged ...

  Bloomberg The Philippine central bank is expanding its cyber-security unit, placing banks and money changers under tighter scrutiny, and will start to regulate digital currencies to ward off laundering and technology crimes. Bangko Sentral ng Pilipinas will tighten its oversight of foreign-exchange dealers and remittance companies in the next two to three months, Deputy Governor Nestor Espenilla told a ...

  ALKESH SHARMA / Emirates Business The Middle East remains a key market for the growth of global yacht industry. According to well-placed survey reports, nearly 55 percent of region’s ultra-wealthy buy superyachts, and it is the highest proportion of any global market. “The 55 percent ‘propensity to buy’ for the Middle East is the highest of all regions,” said ...

  RITIKA SHARMA / Emirates Business As the Small and Medium Enterprise (SME) industry takes center-stage in the economy of the UAE, entrepreneurs are looking for fresh territories to venture into and start their businesses. According to a recent report that accessed the industries explored by budding entrepreneurs in the GCC region, Finance and Technology (Fintech) and e-commerce have emerged ...

  Bloomberg Federal Reserve Bank of Boston President Eric Rosengren said he expects U.S. economic conditions to continue improving, making further rate increases appropriate, although it will be important to see whether a weak employment report for May proves to be an anomaly. “Lately the economic data have been choppy,” Rosengren said in the text of a speech prepared for ...

  Bloomberg Economic growth will slacken in 2016 to its slowest pace in four years as uncertainty about the presidential election weighs on the outlook, according to a survey of forecasters by the National Association for Business Economics. They see gross domestic product expanding 1.9 percent this year on a fourth quarter-to- fourth quarter basis. That’s down from a projected ...