Bloomberg The top investment adviser to rich Indians is asking its wealthy clients to desist from loading up on equities even as the nation’s stock indexes get back into bull territory. “We are maintaining the view that this is a very uncertain environment, and hence, investors must not make impulsive decisions,” Shobhit Mathur, a director at Kotak Investment Advisors Ltd., ...

Bloomberg Bad debt at Chinese banks climbed in the first quarter even as lenders deferred payments on and rolled over a combined 1.5 trillion yuan ($212 billion) in loans after the coronavirus outbreak brought the world’s second-largest economy to a standstill. After allowing banks to take a more lenient approach on how they classify bad debt, regulators in Beijing on ...

Bloomberg Kotak Mahindra Bank Ltd. plans to issue as many as 65 million shares in a move that will strengthen its capital buffers and reduce the stake held by its wealthy founder. The Mumbai-based lender didn’t provide details of the pricing of the new shares in its filing on Wednesday. However, under a regulatory formula, they should be priced around ...

Bloomberg The Land and Agricultural Development Bank of South Africa is in talks with lenders after missing a loan payment and triggering an event of default, leaving its government owner liable for about $302 million of guaranteed debt. The state-owned provider of finance to the farming sector is seeking a waiver after failing to pay what it owed under the ...

Bloomberg India’s central bank may be reducing its intervention in the currency markets as volumes improve and volatility eases. The Reserve Bank of India likely sold a net $1.8 billion in the two weeks ended April 10, according to estimates by Bloomberg Economics. That follows likely sales of $7.7 billion in the spot forex market last month, which made the ...

Bloomberg UniCredit SpA became the first big European bank to try to quantify the impact of the coronavirus, setting aside 900 million euros ($977 million) to cover potential loan losses stemming from the outbreak. Italy’s biggest bank said it will book the provisions for possible soured loans after estimating that the pandemic will cause a 13% contraction in the eurozone’s ...

Bloomberg European bank stocks are trading close their steepest-ever discount to US rivals and early signals show that first-quarter earnings may only reinforce the gap. The continent’s lenders, already in a tough spot before the coronavirus outbreak hit, are likely to detail more worrying news for their embattled investors. In Germany, Deutsche Bank AG may have seen credit trading weigh ...

Bloomberg India ordered airlines this week to stop selling tickets. Hardly any listened. Four of the country’s top six airlines, which together control 80% of the local market, are selling domestic flight tickets for as soon as the third week of May, searches on their websites showed. That’s despite the government saying no decision has been made on allowing flights ...

Bloomberg United Airlines Holdings Inc raised $1 billion by selling new shares, stepping up efforts to increase capital to survive a collapse in travel demand. The company sold 39.25 million shares at $26.50 apiece, with an option for underwriters to buy an extra 10%, United said in a statement. The price is at the high end of what the stock ...

Bloomberg BOC Aviation Ltd, a Singapore-based aircraft leasing company, is testing bond markets at a time when global passenger airlines are nearly shut due to the coronavirus pandemic. The unit of Bank of China Ltd is marketing dollar bonds at significantly wider spreads than similar debt sold in January. Since that time, the crisis has plunged the aviation industry into ...