Bloomberg India said its troops clashed with Chinese solders along their contested Himalayan border, the latest skirmish in a conflict that has simmered since May. The Chinese troops carried out “provocative military movements”, India’s Defense Ministry said in a statement on Monday. It accused the People’s Liberation Army of violating diplomatic and military agreements on the undemarcated area. Beijing was ...

Bloomberg China’s foreign minister warned that a top Czech lawmaker would “pay a heavy price” for visiting Taiwan, exposing continued tensions with Europe even as Beijing sought to push back against US overtures on the continent. Foreign Minister Wang Yi told reporters in Germany that Czech Senate President Milos Vystrcil’s trip was a “betrayal” that made him “an enemy of ...

Bloomberg Democratic presidential nominee Joe Biden said violence in Portland, Oregon, that left a supporter of Donald Trump dead is “unacceptable” and urged the president to stop “fanning the flames of hate and division in our society.” “I condemn violence of every kind by anyone, whether on the left or the right. And I challenge Donald Trump to do the ...

Bloomberg South African President Cyril Ramaphosa gained the upper hand in a power struggle in the nation’s deeply divided ruling party after surviving a bid to force him out of office, clearing the way for him to overhaul his cabinet. The ouster attempt was made during a three-day meeting of the African National Congress’s (ANC) top leadership, according to two ...

Bloomberg Montenegro’s ruling party won the most votes in the elections but results suggested it may have to cede power to opposition parties vowing to unite against Europe’s most enduring leader, President Milo Djukanovic. The tight contest made it unclear who will lead the next government in a country that’s embroiled in the battle for influence in the Balkans between ...

Bloomberg Credit Suisse Group AG plans to double its headcount in China over five years as the firm accelerates its pursuit of the nation’s wealthy, seeking to move past a scandal that’s engulfed once-favoured client and Luckin Coffee Inc. founder Lu Zhengyao. The bank has largely normalised approvals for Chinese companies, ending the increased scrutiny on loans that followed allegations ...

Bloomberg South Africa’s National Treasury says there are no additional resources available for government departments in the next three years. Any additional allocations will have to be funded from reductions in other programs, either within the department’s budget, or from another department’s budget, according to the document presented by Edgar Sishi, the acting head of the budget office, to the ...

Bloomberg Chinese firms that delayed debt payments during the coronavirus crisis are about to get the check. At least 10 companies will face fresh repayment tests on a combined 10.68 billion yuan ($1.5 billion) of bonds over the next two quarters or so, after they postponed maturities or swapped old debt for new notes to alleviate immediate pressure earlier this ...

Bloomberg Two senior executives at Goldman Sachs Group Inc.’s Asia merchant banking division have retired, a year after the firm combined its multiple private investing units into one team. Jonathan Vanica, who headed credit in Asia and real estate investing in India, Southeast and Korea, left this month after 19 years at bank. David Chou, a 15-year veteran who looked ...

Bloomberg IOOF Holdings Ltd. has agreed to buy National Australia Bank Ltd.’s (NAB) wealth management unit for A$1.44 billion ($1.1 billion) as its transformation gathers pace. The Melbourne-based investment group will seek to raise A$1.04 billion through a share sale to help finance the purchase of MLC, IOOF said in a statement on Monday. The rest will be funded through ...