Bloomberg Malaysia can expect half of its banking assets to be Islamic by 2030 as the industry’s growth outpaces conventional banking, according to a lenders’ association. Loans that comply with the religion’s ban on interest is set to increase by 10% to 15% annually over the next five years, outpacing the 5% to 7% growth seen for non-Islamic loans, said …

Bloomberg State Bank of India (SBI) posted its biggest ever quarterly profit as it wrote back provisions on bad loans and recoveries improved. Net income rose to 55.8 billion rupees ($782 million) in the three months ended in December from 39.6 billion rupees a year earlier. That’s broadly in line with the 58.7 billion rupee average of analysts’ estimates compiled …

Bloomberg Bolivia’s central bank reiterated its commitment to the nation’s currency peg and said its $6.5 billion international reserve levels are adequate, in a statement rejecting comments made by a Fitch Ratings analyst to Bloomberg News earlier this week. The nation’s foreign currency reserves “are at levels that are solid for covering internal and external payments in foreign currency under …

Bloomberg The US central bank’s No. 2 official said it’s too early to determine whether the coronavirus outbreak in China will significantly affect the US economy, which remains in a “good place.” “It is a wild card,” said Federal Reserve Vice Chairman Richard Clarida in an interview on Bloomberg Television. “We’re looking into how it translates into the outlook for …

Bloomberg Bitcoin’s infrastructure is more centralized than ever before —raising alarms about the security and viability of what is championed as a decentralised network. Transactions on the Bitcoin network are processed by so-called miners — mostly companies operating vast arrays of computers. As competition increased, many smaller participants became unprofitable and dropped out, while the larger operations have entered into …

Bloomberg Malaysia’s anti-graft agency said it’s already investigating corruption allegations surrounding AirAsia Group Bhd as detailed in Airbus SE’s record $4 billion bribery settlement. The Malaysian Anti-Corruption Commission is in touch with UK authorities on the matter, Chief Commissioner Latheefa Koya said in a statement. Documents filed in the Airbus case said the planemaker paid $50 million in sponsorships to …

Bloomberg Potentially dangerous wiring in Boeing Co’s 737 Max jets is the most recent flare-up between US and European regulators, further complicating the grounded plane’s return to service, according to the Wall Street Journal, which cited people familiar with the details. Experts at the European Union Aviation Safety Agency want certain wires moved to reduce the risk of short circuits, …

Bloomberg Amazon.com Inc’s valuation briefly topped $1 trillion after its results beat expectations, with analysts applauding the popularity of the e-commerce giant’s one-day shipping initiative and the performance of its cloud-computing business. Shares surged as much as 9.9% in their biggest intraday gain since 2017 before paring back gains to trade below the $1 trillion threshold. The stock hit a …

Bloomberg Bankrupt retailer Forever 21 Inc asked a bankruptcy court to approve plans to sell “substantially all” of its assets to a buyer who might keep the chain in business. Forever 21 is in “substantial, round-the-clock negotiations” with a potential stalking-horse bidder, which would set a minimum price for the fashion chain while it continues to seek bids for alternative …

Bloomberg In Moscow, online orders delivered in just 15 minutes by bicycle signal what the future of shopping may hold. Russia’s largest technology company, Yandex NV, is getting groceries to Moscow homes within a quarter of an hour, free of charge. Its new online service, called Lavka, has spread small warehouses across the capital stocked with about 2,000 items and …