Una Galani is Associate Editor of Reuters Breakingviews, based in Mumbai. She covers a cross-section of business, finance, and politics in South Asia. Una was in Hong Kong from 2013 and previously spent three years in Dubai writing about Middle Eastern economies during the Arab Spring. She joined Breakingviews in 2006 in London. In 2016, she won Asia Pacific Best Editorial Comment at the State Street Press Awards and Reuters global analysis/commentary of the year. She read English Literature at St Catherine’s College, Oxford. Follow @ugalani
Growth rebounded quickly after the 2003 SARS outbreak. Stronger prevention measures this time are offset by the potentially more contagious coronavirus. China’s economy is also more fragile and accounts for a larger share of world growth. No wonder investors are jittery.
The $99 bln lender is defying an economic slowdown to deliver 20% loan growth. Aditya Puri, who has led the institution to deliver outsize returns for almost three decades, is set to retire this year on a high note. His successor will inherit a richly valued bank with a lot to lose.
Shares in the telco’s local unit plunged 25% after a court dismissed a plea to review $7 bln of levies. The government could accept delayed payment, still leaving Vodafone Idea with a heavy burden. The alternative, bankruptcy of the big brand, will hit a fragile economy hard.