Bloomberg Absa Group Ltd’s corporate and investment banking unit plans to open an office in China as part of an expansion that will also target other parts of Asia and the Middle East. “Next year, we will be seeking strategic approval from our board for an on-the-ground presence in China,” Charles Russon, the division’s chief executive officer, said in an …

Bloomberg British bank shares jumped amid optimism that a UK deal to leave the European Union would support domestic lenders. Royal Bank of Scotland Group Plc rose as much as 16.4% on October 11, the biggest intraday rise since May 2010, and Lloyds Banking Group Plc gained as much as 12.5%, its largest increase since February 2016. Bonds of both …

Bloomberg Shares of an Indian shadow lender plunged after the Reserve Bank of India rebuffed its plan to merge with a bank, blocking a path that may have helped other struggling non-bank financiers get better access to liquidity. Indiabulls Housing Finance Ltd plunged 19% to the lowest since March 5, 2014, in Mumbai after the plan to combine with Lakshmi …

Bloomberg TPG Capital has paused a sale of its stake in privately-held Indian financier Shriram Capital as the country’s lingering shadow banking crisis hurts valuations, according to people with knowledge of the matter. The private equity’s plan to sell its 10% stake has been held back, and will likely resume only as soon as the next financial year starting in …

Bloomberg Mexico’s antitrust regulator notified top banks that its investigator found probable evidence of cartel-like practices to manipulate government bond prices, according to people with knowledge of the matter. At least one bank received in-person notification that the regulator, known as Cofece, would try the case, said the people, who requested anonymity because the matter is private. Seven financial institutions …

Bloomberg Julius Baer is recommending Hong Kong’s battered stock market as investor appetite fades after five months of protests, saying “times of crisis” are usually an opportunity to invest. The city’s stocks have appeal as valuations are suppressed and dividend payouts exceed the yields on government bonds by near the most on record, said Yves Bonzon, chief investment officer at …

Bloomberg Singapore will spend more than S$1 billion ($728 million) on upgrading projects for public and private housing estates over the next few years, Minister for National Development Lawrence Wong said in a speech, according to the Straits Times. The projects will cushion industry partners in the current economic climate, he said at an annual gathering for the ministry, according …

Bloomberg The cost of chartering a liquefied natural gas vessel on the short-term market has jumped the most since at least 2013. The day rate for a standard tanker East of the Suez Canal jumped 57% in the week to October 9, as issues related to US sanctions on units of China’s Cosco Shipping Corp. start to hit just as …

Bloomberg More than a month since oil started washing up on some of Brazil’s most touristic beaches, dotting sand with black patches, killing sea turtles and scaring off fishermen, the origin of the crude is still a mystery. “We don’t know the oil’s origin, where it came from or how it got here,” Energy Minister Bento Albuquerque said at an …

Bloomberg Samsung Display Co plans to spend 13.1 trillion won ($11 billion) developing and building next-generation displays, responding to a flood of supply and price pressure from fast-moving Chinese rivals. In an announcement event attended by Korean President Moon Jae-in and Samsung Electronics Co Vice-Chairman Lee Jae-yong, the investment was presented as a move to reorganise the display industry while …