Bloomberg State Bank of India’s (SBI) profit rose 62% in the third quarter helped by strong lending as the pandemic eased. Net income at the state lender was 84.3 billion rupees ($1.1 billion) in the three months through December, compared with 51.96 billion rupees a year ago, it said in a statement. That beat the average estimate of 82.59 …

  Bloomberg Bank Negara Malaysia signalled it’s not yet ready to withdraw policy support as the economy recovers, steering clear of the hawkish pivot undertaken by major central banks. The current policy stance is “appropriate and accommodative” and any adjustment will be data-dependent, Governor Nor Shamsiah Mohd Yunus said in an email interview. Headline inflation is expected to remain moderate …

    Bloomberg Sovereign bonds extended declines on Tuesday, with the 10-year Treasury yield approaching 2% as investors grapple with the implications of global monetary-policy tightening. The US 10-year yield climbed above 1.95%, a level last seen in December 2019, with some investors predicting it could rise as high as 3% this year as the Federal Reserve battles the hottest …

  Bloomberg Adani Wilmar Ltd, an Indian food company, surged in its stock trading debut following a $482 million initial public offering (IPO), the country’s largest in two months. Shares of the company, an equal joint venture between the business group controlled by Asia’s richest person Gautam Adani and Singapore’s Wilmar International Ltd., rise as much as 16% to 266.8 …

  Bloomberg European power prices extended last week’s drop, tracking natural gas futures lower as Russian supplies of the fuel are increasing. German and French electricity for March slid about 7% each on Monday on the European Energy Exchange AG, adding weight to the notion that the market has moved beyond the worst of the energy crisis. Traders are keeping …

  Bloomberg One of the world’s first bulk ships to run on liquefied natural gas will deliver its first cargo of iron ore to Northeast Asia later this month, according to charterer BHP Group Ltd. The Mount Tourmaline is currently being fueled with the super-chilled gas in Singapore and will sail this week to Australia to pick up an iron …

  Bloomberg Texas’s power grid passed its biggest test since last year’s deadly blackouts, keeping most lights on during a wintry blast. This storm, however, was far less severe than last year’s monstrous one, leaving questions whether the state is really ready for another deep freeze. While reforms politicians enacted in the past year did help keep power plants running, …

  Bloomberg Airbus SE dodged the threat of strikes in Germany, reaching a labor deal that will allow continued production of its best-selling A320 jetliner. The accord rules out compulsory job cuts at restructured parts plants until the end of 2030, according to the IG Metall union. Airbus agreed to invest in the sites until at least that date and …

  Bloomberg Frontier Group Holdings Inc agreed to buy Spirit Airlines Inc. for $2.9 billion in cash and stock, uniting two ultra-low-cost carriers targeting the recovering US leisure-travel market. Spirit shares rose the most in 14 months. Spirit investors will receive 1.9126 Frontier shares and $2.13 in cash for each Spirit share, according to a statement Monday. The deal implies …

  Bloomberg A Danish pension fund said it will exit its $3 million stake in Wizz Air Holdings Plc after talks failed to resolve concerns surrounding the discount carrier’s labor practices. AkademikerPension, which manages around $23 billion, said Monday that it will sell the stock after Wizz rebuffed a plea for it to recognize staff rights concerning freedom of association …