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  Bloomberg Signs are growing in China that local government debt burdens are becoming unsustainable. China’s 31 provincial governments have a stockpile of outstanding bonds that’s close to the Ministry of Finance’s risk threshold of 120% of income. Breaching that line could mean regions will face more regulatory hurdles to borrow, hampering their ability to drive up economic growth. In ...

  Bloomberg India wants to narrow its budget deficit by at least 50 basis points, according to people familiar with the matter, as authorities balance global investor scrutiny with the need for higher spending as the nation enters an election year. Finance Minister Nirmala Sitharaman will seek to shrink the shortfall to less than 6% of gross domestic product in ...

Bloomberg A South Korean official said the government is considering issuing an order to disband a strike by truck drivers that has blocked ports and industrial complexes, hampering supplies of key exports. “We are doing our best to minimize supply disruptions and taking emergency steps,” said Transport Minister Won Hee-ryong during a visit to the port of Busan on Thursday. ...

  Bloomberg Adani Enterprises Ltd. seeks to raise 200 billion rupees ($2.5 billion) by selling new shares as billionaire Gautam Adani’s flagship firm looks to increase its free float and improve leverage ratios. The board of the Ahmedabad-based company, helmed by Asia’s richest person, approved a further public offer of equity shares, according to an exchange filing Friday. The breakneck ...

Bloomberg Baidu Inc. posted a surprise gain in revenue after cost cuts helped prop up the bottom line and online advertising held up better than anticipated against China’s economic downturn. Sales rose slightly to 32.5 billion yuan ($4.6 billion) in the September quarter, beating expectations for 31.8 billion yuan. The company posted a net loss of 146 million yuan in ...

Bloomberg The Bank of Canada’s No. 2 official said the country’s financial system will be able to weather growing stability risks stemming from higher interest rates and inflation that’s causing hardship for many households. In prepared remarks of a speech delivered in Ottawa, Senior Deputy Governor Carolyn Rogers said risks for Canada are mitigated by financial reforms since the 2008-09 ...

  Bloomberg The Riksbank raised borrowing costs by 75 basis points and signalled more tightening is needed to tame inflation even as it predicted a worsening slump for Sweden’s economy. In his final decision as central-bank governor, Stefan Ingves and his colleagues lifted the key interest rate to 2.5%, the highest since 2008. Most economists anticipated the move. Officials raised ...

  Bloomberg The Bank of England (BOE) must continue raising interest rates to bring inflation back to 2% even if it means more hardship for households, Deputy Governor Dave Ramsden said. Citing concerns about the tight labour market and high inflation expectations, Ramsden said his bias was for further tightening. The BOE has raised rates eight times since December to ...

  Bloomberg Australia’s central bank will raise interest rates three more times and then pause from mid-2023 as it tries to slow demand and consumer prices without triggering a recession, economists say. The Reserve Bank will lift its cash rate to 3.6% by June, the median estimate of 35 analysts in a Bloomberg survey showed, up from last month’s forecast ...

  Bloomberg The three-month London interbank offered rate for dollars climbed to the highest level since the financial crisis in an otherwise quiet day for the front-end of fixed income markets. The benchmark rate for lending between banks rose for the third straight session, climbing roughly 5.9 basis points to 4.75729%, the highest since October 2008. The spread of Libor ...