Insurer Prudential is unlikely to split into two before late 2019, it said on Wednesday as growth in Asia helped it beat first-half profit forecasts, the International New York Times reported on a Reuters story. Britain's largest listed insurer said in March it planned to demerge M&G Prudential, its UK and Europe life insurance and asset management business, into a separate business with a London listing. The remaining Prudential business will focus on Asia and the United States.

The longer Turkish policy makers wait to stem the lira’s precipitous slide, the bigger the toll on the already fragile economy, Bloomberg News reported. The cost of insuring the nation’s debt against default climbed to a nine-year high as an almost 30 percent plunge in the exchange rate in 2018 threatens the finances of local firms that have gorged on foreign-currency loans. Turkish companies have foreign-exchange liabilities equal to about a third of the country’s gross domestic product, posing a serious threat to banks if the currency depreciation isn’t contained.

China’s leader, Xi Jinping, has called it the “project of the century” and said it will usher in a “golden age” of globalisation. With Beijing-backed projects in 78 countries, the “Belt and Road Initiative” (BRI) is one of the world’s most ambitious development programmes. But critics fear it could become the conduit through which some of China’s debt problems are transmitted overseas, the Financial Times reported.

China's HNA Group Co Ltd is in advanced talks to sell a 30 percent stake in aircraft lessor Avolon Holdings Ltd to Japan's Orix Corp, two sources said, as the company attempts to restructure and trim stakes even in its core assets, the International New York Times reported on a Reuters story. The aviation-to-financial services conglomerate, which has racked up massive debt from acquisitions in recent years, is nearing a deal to sell the stake in Dublin-based Avolon for about $2.2 billion, the sources, who were familiar with the matter, told Reuters.

Indonesia at times felt uncomfortably close to the center of this year’s emerging-market selloff as bond yields rose for five straight months and the rupiah slid more than 6 percent, Bloomberg News reported. Some funds are now saying it’s time to get back in. Loomis Sayles & Co. is looking to boost holdings of Indonesian bonds, citing sound domestic fundamentals and inflation that is close to target. Western Asset Management Co. says a proactive central bank and the recent increase in yields may be creating a buying opportunity for the nation’s dollar-denominated debt.

Investors are watching closely to see whether Turkish banks will maintain access to the foreign funding they need to keep economic activity humming, as the economy is battered by U.S. sanctions, rating cuts, concern about a looming fine on a state bank and a plunging lira, Bloomberg News reported. Turkish lenders have a good record of foreign borrowing even at the height of a financial crisis and are strong enough to weather a slowdown, according to bank executives.

The Force India Formula One team will come out of administration after a rescue deal involving a consortium of investors led by Canadian billionaire Lawrence Stroll, administrators and management said in a statement on Tuesday. They said creditors would be paid in full and all 405 jobs at the Silverstone-based team, that was co-owned by embattled Indian businessman Vijay Mallya and finished fourth last year, were safe, Reuters reported. Stroll is the father of Williams Formula One driver Lance.

Bonds that Reliance Communications Ltd. defaulted on last year slumped to a seven-month low on Tuesday, after the Indian mobile operator controlled by billionaire Anil Ambani offered to repay holders at a discount to the principal value, Bloomberg News reported. The firm, which is set to meet with bondholders on Aug. 10, has been trying to close a sale of wireless assets to Reliance Jio Infocomm Ltd. that would raise money to help pay creditors. Reliance Communications’ 2020 dollar notes fell 2 cents on the dollar to 43 cents as of 6:00 p.m.

India’s Supreme Court Tuesday refused to halt a lower court from hearing cash-strapped power producers seeking protection from bankruptcy proceedings, Bloomberg News reported. The verdict of the two-judge bench headed by Rohinton F. Nariman ensures that lenders won’t be able to initiate insolvency proceedings against power producers who may have defaulted on loan repayments unless they are categorized as wilful defaulters. Power producers had challenged Reserve Bank of India’s revised debt servicing rules, which they say can push nearly 75 gigawatts of projects into bankruptcy.

Noble Group, the Singapore-listed commodity trader scrambling to complete a debt-for-equity swap, has increased the size of the bond that will be issued by its restructured trading holding company, according to a statement released on Monday morning.