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
Prime Minister Mahathir Mohamad’s administration says the country was deceived and wants back $600 mln the investment bank made arranging bonds for disgraced 1MDB. Goldman’s compliance was weak, but the last regime knew what it was buying. There’s plenty of blame to go around.
Under government pressure, India’s central bank will consider cuts to over $100 bln of reserves. Its capital cushion looks generous next to BRIC peers, but the country’s large budget deficit, its dependence on foreign capital and the danger of a bad precedent demand caution.
Binny Bansal is leaving amid a misconduct scandal just months after the U.S. retailer paid $16 bln for the Indian e-commerce firm he co-founded. It’s a blemish on Walmart’s due diligence, but Flipkart’s management has been tumultuous. The outcome may be a blessing in disguise.