Bloomberg India’s lower house of parliament approved legislation seeking to link electoral rolls with a nationwide digital identity database to stop fraudulent voting despite protests from the opposition and civil society groups, who allege the move violates citizens’ privacy. The Election Laws (Amendment) Bill was introduced and approved within hours in the Lok Sabha via a voice vote amid ...
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Ukrainian ex-president accused of state treason
Bloomberg Ukraine’s former President Petro Poroshenko is suspected of state treason for purchasing coal from the country’s separatist areas, his ally told local media. A prosecutor signed a notice of suspicion for Poroshenko, who is now traveling abroad, Oleksandr Turchynov told a televised briefing. Poroshenko is expected back in Ukraine after holidays, said Turchynov, who denied any wrongdoing ...
Read More »Firms brace for extra Brexit red tape amid supply lines squeeze
Bloomberg Just as firms wrestle with a global supply chain crisis and fresh pandemic restrictions, companies in the UK and European Union face another looming headache: More post-Brexit red tape. From January 1, companies importing goods into Britain from the EU will be required to make full customs declarations. Food products will also have be pre-registered on an IT ...
Read More »Unemployment rate falls in nearly all US states in November
Bloomberg The unemployment rate fell in nearly every US state last month, including in eight states where it dropped to a record low. Nebraska, with a jobless rate of 1.8%, had the lowest in the country, followed closely by Utah at 2.1%, according to Labour Department data. Arkansas, Georgia, Montana, Oklahoma, West Virginia and Wisconsin also posted record lows. ...
Read More »French firms ‘crushed’ by power costs: Trade group
Bloomberg The low availability of nuclear plants in France is causing power prices to soar, crushing the competitiveness of the nation’s companies, according to the Uniden trade group that represents energy-intensive industries. Electricite de France SA this week announced new or extended outages at four of the nation’s 56 nuclear reactors during winter, when demand peaks. Available nuclear capacity ...
Read More »German borrowing to stay close to record to fund pandemic aid
Bloomberg Germany’s federal government plans to sell the second-highest amount of debt on record next year, as aggressive spending to offset the impact of coronavirus pandemic continues. Debt issuance will shrink to about 410 billion euros ($464 billion) in 2022, compared with a record of around 480 billion euros this year, according to the German finance agency’s issuance plan. ...
Read More »Denmark raises its growth outlook
Bloomberg Denmark now sees its economic growth matching the fastest pace in almost three decades, predicting an outbreak of the new virus variant won’t derail a boom in the Nordic nation. Gross domestic product will probably expand by 3.9% this year, up from a previous forecast of 3.8%, the finance ministry said in a statement. The forecast, that would ...
Read More »Argentina limits grain exports in fight against food inflation
Bloomberg Argentina is putting a ceiling on exports of corn and wheat in a fresh bid by the leftist government to quell food inflation at home. The government will first decide how much of the grains are needed in Argentina, and then proceed to stop exporters from registering shipments that’d jeopardise those domestic supplies, according to a resolution published ...
Read More »Omicron fears ignite market selloff as traders clear books
Bloomberg Monday’s Asia trading session took on a decisively risk-off tone: US stock index futures fell, Treasuries gained and risk-sensitive currencies slid as investors fretted over fresh lockdowns to slow the new variant. Senator Joe Manchin’s rejection of the US spending package at the heart of President Joe Biden’s economic agenda heaped fresh fuel to the fire with market ...
Read More »Indian stocks head for correction as omicron variant drives Asia rout
Bloomberg India’s benchmark index was poised to enter a correction as concerns about risks from the rapid spread of the omicron coronavirus variant prompted selling of equities ahead of year-end holidays. Reliance Industries Ltd. was the biggest drag on the S&P BSE Sensex, which retreated 2.8% to 55,423.99 as of 1:24 pm in Mumbai, headed for its biggest two-day ...
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