Bloomberg Saddled with a slumping property market, China is extending measures introduced in September 2022 that allow lower mortgage rates for first-home buyers if newly constructed house prices drop for three consecutive months. Cities are eligible to maintain, lower or remove minimum interest rates on loans for first home purchases, according to a statement from the central bank and ...

  Bloomberg Mukesh Ambani, the billionaire chairman of Reliance Industries Ltd, will be focusing his attention on the Indian conglomerate’s pivot to green energy, according to people familiar with the matter, after putting his children in charge of other businesses. The 65-year-old will oversee strategy, including the building of gigafactories and blue hydrogen facilities, will assess acquisition targets, and is ...

Bloomberg Germany is nearing a decision to send infantry fighting vehicles to help Ukraine fight off Russia’s military invasion as pressure mounts on Chancellor Olaf Scholz to match commitments from France and the US. The government in Berlin is in talks with allies to coordinate an announcement, which could come within days, according to people familiar with the matter. One ...

  Bloomberg Malawi’s worst cholera outbreak in two decades has left 643 people dead after the disease spread to all districts of the southeastern African country. The landlocked nation, prone to tropical storms and cyclones, has been battling a resurgence of the water-borne diarrheal disease since March. The rainy season, which began in November, worsened the situation. Floods have led ...

  Bloomberg California faces heavy rain and ferocious winds as a powerful storm system adds to recent downpours that have burst levees and triggered mudslides. The deluge was set to continue in parts of the state, and “considerable flooding impacts are likely,” the National Weather Service said in a statement. Heavy snowfall in some mountain areas could make travel impossible ...

  Bloomberg Taiwan detained three active-duty officers and a retired Air Force officer suspected of spying for China, the Central News Agency (CNA) in Taipei reported, a case that hints at the extent of Beijing’s snooping on its much smaller neighbour. The former officer left the military in 2013 and started doing business in China, where he was recruited to ...

  Bloomberg Vietnam dismissed two deputy prime ministers — the most senior officials to be relieved of duties since 2017 — amid lengthy investigations driven by a campaign to clean up corruption and protect the Communist Party’s legitimacy. The National Assembly voted to dismiss Deputy PM Vu Duc Dam from office during a four-day special session that began on Thursday. ...

Bloomberg Credit Suisse Group AG is paying up to raise billions of dollars in the US and UK as the troubled lender relies on attractive terms to keep funding plans in place. The embattled Swiss lender’s New York branch sold $3.75 billion of two-year and five-year notes to yield 370 basis points over Treasuries, according to a person with knowledge ...

  Bloomberg Canadian Imperial Bank of Commerce (CIBC) plans to set aside C$850 million ($628 million) to cover damages in a lawsuit with Cerberus Capital Management LP that it’s still fighting. The after-tax provision will reduce the bank’s Common Equity Tier 1 capital ratio by about 30 basis points, the Toronto-based bank said. CIBC reiterated that it plans to appeal ...

  Bloomberg Bank of Montreal’s (BMO) capital-markets unit was the top arranger of initial public offerings (IPOs) in Canada in 2022, eking out two significant deals in a year when plunging equity prices all but froze the market for companies seeking to sell shares for the first time. Canadian companies undertook 112 IPOs with a total value of C$1.82 billion ...