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  Bloomberg State Bank of India (SBI), the nation’s largest lender, posted fourth-quarter profit that missed analyst estimate as bad loan provisions rise and income from businesses other than lending dropped. Net income stood at 91.1 billion rupees ($1.2 billion) in the three months to March, the highest ever quarterly profit, compared with 64.5 billion rupees a year earlier. That …

  Bloomberg Westpac Banking Corp.’s first-half profit topped analyst estimates as costs continued to decline, offsetting ongoing competition in mortgages and business lending. The stock opened higher. Cash profit at Australia’s third-largest lender falls to A$3.1 billion in the six months to March 31, compared with the same period a year earlier, according to a statement. That beat the A$2.9 …

  Bloomberg South Africa must accelerate plans to generate more electricity itself, buy more energy from private producers and make it easier for power-hungry mining companies to build their own plants, according to a draft economic policy document compiled by the nation’s governing party. Projects outlined in the government’s Integrated Resources Plan won’t be sufficient to end rolling blackouts, and …

  Bloomberg A single region in China plans to build enough solar farms off its eastern seaboard to power New Zealand. Shandong province, the industrial hub south of Beijing, issued a tender for the construction of 10 offshore solar plants in the seas surrounding China’s largest peninsula by 2025. The capacity planned is 11.25 gigawatts, more than peak consumption in …

  Bloomberg Italian PM Mario Draghi wants to deepen ties and trade with Mediterranean countries such as Algeria and Libya, which are key partners in Italy’s rush to replace Russian energy imports. Draghi last month signed a deal to boost gas deliveries from Algeria and wants to enhance stability in Libya, once a key energy partner that has been beset …

  Bloomberg Spain approved rules to cap natural gas prices, the most radical effort yet by a European government to contain the rally in energy costs sparked by the war in Ukraine. The announcement means weeks of back-and-forth between Madrid and the European Union on the plan could be close to an end. Portugal was expected to green-light similar rules. …

  Bloomberg Global Infrastructure Partners (GIP) has agreed to buy clean energy company Atlas Renewable Energy to bolster its presence in Latin America, according to people familiar with the matter. New York-based GIP will acquire Atlas from private equity firm Actis in a deal valued at close to $2 billion, the people said, asking not to be identified discussing confidential …

Bloomberg The decades-long era of cheap food in Britain may be coming to an abrupt end. With the UK wilting under the fastest inflation in three decades, supermarkets are raising prices at an even quicker rate, according to a new analysis prepared for Bloomberg. That’s turning the screws on shoppers who are already grappling with higher gas and heating bills …

  Bloomberg The chief executive officer of Tesco Plc received 4.7 million pounds ($ 5.7 million) last year after he helped steer Britain’s biggest grocer and private sector employer through the Covid-19 pandemic. Most of Ken Murphy’s bumper package was driven by performance-related bonuses for helping Tesco manage severe staff shortages, panic-buying and major supply chain blockages as Covid infections …

Bloomberg South Africa’s government has retained special voting rights in the country’s national carrier even after selling a majority stake, and will be given 3 billion rand ($186 million) in preference shares that can be redeemed through future cashflow. That means the state stands to benefit should new owner, the Takatso Consortium, revive a carrier that’s struggled under years of …