Bloomberg Business

Indonesia said Perry Warjiyo, who steered the Southeast Asian economy’s monetary policy through the pandemic years, will continue as central bank governor for a second term.

Commodities remained under pressure despite a weekend of intervention by authorities to contain a banking crisis that saw UBS Group AG agree to buy Credit Suisse Group AG and central banks boost dollar liquidity.

Central banks in Africa’s biggest economies are poised to raise interest rates this month to contain sticky inflation and deter a selloff in their assets exacerbated by the collapse of US lender Silicon Valley Bank and stress at Credit Suisse Group AG.

The world’s most indebted developer said it expects that a restructuring support agreement will be ready by the end of March, after it won preliminary support from a group of major creditors.

Shares of European banks traded in Asia tumbled Monday, as investors weighed a collapse in the value of additional tier 1 bonds issued by lenders following the terms of the Credit Suisse Group AG’s rescue.

On Sunday, one of Switzerland’s biggest newspapers featured a drawing of Credit Suisse Group AG’s headquarters in flames. The image, meant to evoke what the headline said were the bank’s “last days,” was also a metaphor for the embarrassment and consternation the lender’s swift unraveling has caused in its home country.

(Bloomberg) — Emmanuel Macron’s government will face two confidence votes as soon as Monday amid anger over the French president’s decision to bypass the legislature in pushing through his unpopular pension reform that will boost the minimum retirement age to 64 from 62.

The early calm in Asian markets on Monday quickly gave way to fresh jitters about the outlook for the global financial system, and investors and strategists are bracing for further tumult.

Signature Bank’s deposits and some of its loans have been taken over by a unit of New York Community Bancorp, a move that could help calm some of the turmoil that has engulfed US regional banks.