World Business

Lima, Peru—The biggest risks to the global economy are now in emerging markets, where private companies have racked up considerable debt amid a fifth straight year of slowing growth, the International Monetary Fund (IMF) said. 

Kathmandu, Nepal—Struggling with a fuel shortage after Indian shipments went on hold, Nepal is asking suppliers to bring gasoline and kerosene by airplane before the Himalayan country begins celebrating its biggest festival of the year, and for the first time is looking to import fuel from China. 

Washington—The head of the International Monetary Fund (IMF) has said global growth will likely be weaker this year as the world economy confronts a host of problems, including a refugee crisis in Europe, an economic slowdown in China and a pending rise in US interest rates.

Lisbon, Portugal—When two Chinese companies appeared among the bidders to buy a troubled Portuguese bank this year, its staff took heart.

Hong Kong—Boeing said Chinese companies have agreed to buy 300 jets and build an aircraft assembly plant in China. The deals, worth about $38 billion, were signed during Chinese President Xi Jinping’s visit to the United States.

Los Angeles—Bob Rand bought his Volkswagen Passat last year for its clean emissions and high gas mileage. He liked the car so much that he convinced his son and a friend to buy one, too.

Tokyo—Standard & Poor’s lowered Japan’s sovereign credit rating and said it doesn’t expect Prime Minister Shinzo Abe’s economic revival strategy to reverse deteriorating government finances within the next three years.

Washington—The Food and Drug Administration (FDA) banned sales of four cigarette brands from R.J. Reynolds because they did not meet the agency’s safety review requirements.

Beijing—China plans to allow foreign central banks into its interbank currency market, the country’s No. 2 leader said, in a new move to expand use of the tightly controlled Chinese yuan. 

Hong Kong—Moody’s Investors Service is challenging a $3 million fine by Hong Kong’s securities regulator, which accuses the credit rating agency of misconduct over a 2011 report that flagged potential problems at Chinese companies.