Bloomberg Turkey carried out air strikes against US-backed Kurdish militant groups in Iraq and northern Syria in retaliation for a deadly bombing that targeted civilians in Istanbul a week ago. The offensive could shore up flagging domestic support for Turkish President Recep Tayyip Erdogan ahead of the 2023 election. Yet it risks stoking tensions with Washington, which supports Kurdish forces ...

Bloomberg Two Malaysian coalitions said they’re confident of getting enough support from outside their existing alliances to form a new government after the country’s first-ever hung parliament. Anwar Ibrahim’s Pakatan Harapan coalition got the most parliamentary seats — 82 of 220 — in Saturday’s vote, with former premier Muhyiddin Yassin’s Perikatan Nasional not far behind at 73. Prime Minister Ismail ...

Bloomberg President Xi Jinping started his week overseas mending ties with the US, and ended it with European leaders making the case for resisting the Biden administration’s sweeping chip curbs on China. The shift in sentiment amounts to a victory for Xi on just his second foray outside of China since the pandemic began —a span that had seen Beijing’s ...

  Bloomberg US Vice President Kamala Harris and China’s Xi Jinping met briefly on the sidelines of an Asian summit, in another signal of easing tensions between the world’s two largest economies. Harris said in a tweet that she used the exchange at the Asia-Pacific Economic Cooperation forum Saturday in Bangkok to stress the need for open lines of communication ...

  Bloomberg JPMorgan Chase & Co. made sweeping improvements to time off for bereavement, sick days, and caring for ill family members — including for the first time giving 16 weeks of leave to either parent for the birth or adoption of a child, regardless of which is the primary caregiver. The changes put the bank more in line with ...

  Bloomberg The People’s Bank of China (PBOC) warned inflation may accelerate as overall demand in the economy picks up, suggesting the scope for further monetary policy easing may be limited. The central bank “will pay serious attention to the underlying possibility of rising inflation, especially changes in the demand side,” it said in its quarterly monetary policy report. At ...

  Bloomberg Monetary authorities in Indonesia and the Philippines delivered large interest-rate increases to curb inflation and support their currencies, while signalling their approaches to policy tightening may differ from here on. Bangko Sentral ng Pilipinas raised the key rate by a previously announced 75 basis points to 5%. Shortly after, Bank Indonesia lifted its benchmark rate by half-point to ...

Bloomberg The International Monetary Fund (IMF) has urged the Central Bank of Nigeria to reduce its interventions on the foreign-exchange market and allow banks to set the naira’s conversion rate. This will stop speculation around possible devaluation fuelled by dollar shortages, rising inflation, limited debt servicing capacity and restrictions on dollar transactions, the IMF said after a mission. “These factors ...

Bloomberg Apple Inc is preparing to begin sourcing chips for its devices from a plant under construction in Arizona, marking a major step towards reducing the company’s reliance on Asian production. Chief Executive Officer Tim Cook made the disclosure during an internal meeting in Germany with local engineering and retail employees as part of a recent tour of Europe, according ...

  Bloomberg Fiat, the Italian car brand owned by Stellantis NV, said it will bring the 500e, an electric version of its urban minicar, back to North America in 2024, roughly three years after it yanked the model from US dealerships. The Fiat 500e, which is currently made at its Mirafiori plant in Turin, Italy, has been doing well in ...