Bloomberg India’s foreign exchange reserves dropped to their lowest in 15 months as the central bank probably stepped up its intervention to support the rupee that is testing new lows amid foreign capital outflows. The reserves falls by $8.06 billion to $580.3 billion, data released by the central bank showed. This is the second straight week of decline and comes …

  Bloomberg Latin American central banks may need to extend already long and deep rate hiking cycles to shore up battered currencies that are threatening financial stability, Goldman Sachs Group Inc. analysts said in a report. The region’s currencies, notably the Chilean and Colombian pesos, “are still vulnerable to an intensification of recession fears, a deterioration of economic activity in …

  Bloomberg Citigroup Inc is collecting a windfall from tumultuous international markets, even as a dimming economic outlook and Russia’s invasion of Ukraine pose billions of dollars in risks. The bank’s second-quarter profit soared past analysts’ estimates, driven by unexpectedly large hauls from currencies, commodities and interest-rates trading and its shuttling of corporate money over borders. Net income amounted to …

  Bloomberg European stocks and US equity futures rise, while the dollar weakened as investors scaled back bets on how aggressively the Federal Reserve will tighten policy, easing recession fears. The Stoxx Europe 600 advanced to its highest level in more than a month, led by mining and energy shares. Futures on the S&P 500 and Nasdaq 100 indices added …

  Bloomberg Hong Kong’s stocks climbed on Monday, with a rally in beaten-down property and technology names helping the benchmark index rebound from the brink of a technical correction. The Hang Seng Index jumped 2.7%, snapping a five-day loss. Country Garden Holdings Co. — China’s largest builder — was among the top gainers following a report that the nation’s banking …

  Bloomberg The International Monetary Fund (IMF) will cut its global economic growth outlook “substantially” in its next update, as finance chiefs grapple with a shrinking list of options to address the worsening risks. Surging food and energy prices, slowing capital flows to emerging markets, the ongoing pandemic and a slowdown in China make it ‘much more challenging’ for policymakers, …

Bloomberg India’s gasoline and diesel sales during the first half of July dropped from last month as seasonal rains curtailed demand in world’s third-biggest energy consumer that could help keep a lid on oil prices. The three biggest retailers sold 1.28 million tons of gasoline during July 1-15, down about 8% from the corresponding period in June, according to refinery …

Bloomberg Less than a decade ago, London’s Heathrow was the undisputed hub airport for Europe, with thousands of daily passengers and an ambitious expansion plan that included a brand new runway. Terminal 5 was still a novelty — the UK’s largest free-standing building hosted a string of glitzy shops and restaurants, including one founded by celebrity chef Gordon Ramsay. The …

  Bloomberg Jeffrey Goh, the chief executive officer of Star Alliance, will step down at the end of the year to pursue other interests. Goh, who has spent 16 years at the alliance including six in the top job, said he’s agreed to stay on to support the transition to the next head. An international search will be undertaken shortly …

  Bloomberg LOT Polish Airlines SA is close to ordering as many as 60 Airbus SE A220 jets as it looks to swap out its aging Embraer SA plane. The Warsaw-based carrier is in advanced talks with the European planemaker and while the details may change, any deal could be announced as early as next week’s Farnborough International Airshow, the …