Indian Prime Minister-elect Sonia Gandhi and her new government are likely to be sworn in on Wednesday after a hectic weekend sealing deals with allies and new partners, officials in her Congress party said.
China will accelerate reforms this year to ensure its banks are in better shape to fend off foreign competition arising from its membership of the World Trade Organisation, the banking watchdog said yesterday.
The Thai government's offer of more than 428 million new shares in Airports of Thailand (AOT), to raise around US$436mil, sold out in less than two hours yesterday, an underwriter for the initial public offering said.
Chinese Premier Wen Jiabao has ordered a clampdown on excessive lending, the strongest call yet to tackle a problem that could undermine the country's economic growth and complicate key reforms of banks and state firms.
China is expected to inject funds into two other state-banks which missed out on an initial US$45bil bailout, but the timing depends on their progress in cutting bad loans, government economists and analysts said.