Bloomberg Business

China plans to strengthen oversight of its $60 trillion financial system by setting up an enlarged national regulator while taking some duties away from the central bank.

China is setting up an enlarged national financial regulatory authority and a bureau to oversee vast quantities of data, under a broad shake-up plan unveiled at the National People’s Congress — the annual parliamentary gathering. The move is widely seen as an effort to further consolidate President Xi Jinping’s hold over the world’s second-largest economy.

Chinese President Xi Jinping praised and at the same time raised concern about battery maker Contemporary Amperex Technology Co. Ltd. at a meeting with delegates during annual national meetings in Beijing.

Hackers linked to the Iranian government were behind a cyberattack last month that shut down the operating systems of an Israeli university, Israel’s cyber authority said Tuesday.

A large amount of Russian oil continues to be transfered between tankers just a few miles off the coast of Spain.

Carlsberg A/S Chief Executive Officer Cees ’t Hart will retire after eight years as the Danish brewer struggles to extricate itself from Russia and to raise prices enough to offset surging inflation.

Slovakia’s caretaker prime minister, Eduard Heger, quit his party and signaled he’ll join another one ahead of early elections planned for September that were triggered by his previous cabinet’s collapse.

Sri Lanka’s rupee rallied by the most in over three decades and stocks surged as China’s support for the nation’s debt plan and the central bank’s move to scrap the currency trading band boosted optimism over an International Monetary Fund bailout.

Dealmakers in India should expect another strong year for mergers and acquisitions as investors and firms diversify into the South Asian nation, according to JPMorgan Chase & Co.

A majority of Pakistanis blame a coalition government for the soaring inflation in a country that’s struggling to shore up finances and avoid a default while support for former premier Imran Khan soared ahead of elections.