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Imagine India’s GDP growth had collapsed to 3%; inflation was about to hit double digits; exports were tanking; and the country’s twin deficits—in the government’s budget, and in the nation’s current account—were out of control. It’s only when the Reserve Bank of India (RBI) tries to imagine such a dire scenario for March 2019 that its simulation exercise for bad ...

Securities, or not securities. That is the crypto question. Except in Thailand. While regulators around the world have grappled with the issue of what category digital currencies and assets fall into, Thailand has skipped the debate altogether. Instead, using an emergency decree that came into effect earlier this year, authorities wrote an entirely new law. The result is the Digital ...

British Chancellor of the Exchequer Philip Hammond and Bank of England chief Mark Carney are a two-man Brexit juggling act, valiantly trying to convince the outside world that they can keep the UK from crashing to earth. The duo have survived political mud-slinging by Brexiteers, a faltering economy and heavy criticism of deep cuts to public spending (Hammond) and historically ...

If Amazon’s move to disrupt health care is going to make Americans any healthier, the improvement is most likely to take place in the business of getting prescription drugs to patients more reliably. For one thing, there’s plenty of room for improvement. Failure to take prescription drugs kills about 125,000 Americans a year, according to a recent review in the ...

Being a banker in London is probably the very definition of belonging to “the 1 percent.” Yet only one in three is satisfied with his or her pay, according to one survey. Considering the stagnant productivity in the city’s finance sector, perhaps they should be more grateful. Britain as a whole has been a productivity laggard since the financial crisis, ...

Since January 1, when China stopped accepting the rich world’s recyclable plastic waste, it’s gotten a ton of criticism for worsening the already deep crisis of ocean plastic pollution. But China isn’t the only culprit here. This is a crisis made — and growing worse — throughout developing Asia. Just eight countries in the region are responsible for about 63 ...

Bloomberg Some of Europe’s biggest banks may have found a perfectly legal way to exploit a weakness in one of the finance industry’s most loathed rules. Euro-area and Swiss lenders cut their short-term borrowings by tens of billions of dollars just before the end of each quarter, improving their reported financial health, only to build them up again in the ...

Bloomberg Indonesia’s central bank is showing its willingness to sacrifice economic growth for currency stability in its latest aggressive move on interest rates. Bank Indonesia surprised economists with a bigger-than-forecast 50 basis-point hike, on top of two rate increases in May aimed at halting a currency rout. That takes the benchmark rate to 5.25 percent, with analysts betting there’s more ...

Bloomberg Deutsche Bank AG, which is in the throes of a global restructuring involving thousands of job cuts, is zeroing in on an Asian market where an unprecedented bad-loan clean-up offers the potential for a credit bonanza. In India, where bankruptcy law changes have injected urgency into efforts to restructure $210 billion of stressed assets, Deutsche Bank sees an opportunity ...

Bloomberg UniCredit SpA is selling at least 3 billion euros ($3.5 billion) of non-performing loans in different deals, while extending a partnership to manage troubled corporate debt as part of its cleanup strategy, according to people with knowledge of matter. The Italian bank is reviewing final offers for 700 million euros of unsecured loans in a disposal project dubbed Narciso ...