Bloomberg Ethiopia’s national airline will take a 20 percent stake in Eritrean Airlines, the state-owned Ethiopian Press Agency reported, citing unidentified Eritrean media. Ethiopian Airlines Enterprise, Africa’s biggest carrier by revenue, will also resume flights next week to Asmara, the capital of neighbouring Eritrea, the ruling party-funded Fana Broadcasting Corp. reported earlier, after the two countries made a historic agreement …

Bloomberg Taiwan warned businesses and schools to prepare for extreme conditions as Severe Typhoon Maria closes in on the island, disrupting flights and curtailing futures trading. The typhoon could bring strong winds and heavy rains to northern and central Taiwan, Central Weather Bureau said in statement on Tuesday. Several local governments in the northern Taiwan including Taipei City, the island’s …

Bloomberg US equities joined a global rally that began in Asia as investors set aside concern about escalating trade tensions to focus on the coming earnings season. The pound erased gains after pro-Brexit official Boris Johnson quit as UK foreign secretary. The S&P 500 Index rose to the highest since mid-June and the Dow Jones Industrial Average popped through key …

Bloomberg Chinese large cap stocks climbed the most in two years, bouncing back from a bruising run of losses in the lead up to the imposition of US tariffs from July 6. The yuan also rose after retreating for four weeks straight. The Shanghai Composite Index jumped 2.5 percent, the most since May 2016, following seven weekly declines in a …

Bloomberg If a US or global recession is looming, it’s time to own the Swiss franc, Singapore dollar, US dollar and Japanese yen – and ditch emerging market currencies, according to analysts from JPMorgan Chase & Co. “Recessions are when creditors get to ask for their money back,” analysts including Paul Meggyesi said in a note. “Three of the top …

Bloomberg Global debt is becoming a bigger worry as the global policy tightening cycle takes hold, a top boss at the World Bank warned Monday. “After a decade of low interest rates, the corporate and public debt in many places has ballooned to a staggering $164 trillion,” Kristalina Georgieva, chief executive officer of the World Bank, said in an interview …

Bloomberg Bank of England (BOE) policy makers are adjusting to an upheaval at the statistics office at the very point when they need as much clarity as possible to help decide whether to raise interest rates next month. The UK is this week shaking up the way it reports growth, publishing monthly updates and delaying its usual quarterly figures. The …

Bloomberg Makram Azar, chairman for Barclays Plc’s Europe, Middle East and Africa banking operations, retired from his role at the British lender, according to a memo to obtained by Bloomberg News. Azar, who also headed the bank’s Middle East’s operations, will return as a senior adviser in January 2019, according to the memo issued by Joe McGrath, global head of …

Bloomberg Investment bankers in Hong Kong are catching biotech fever. At least seven senior bankers and analysts from top-tier securities firms have quit to join biotechnology companies in the city since December, responding to the industry’s growing demand for financial expertise after rule changes at Hong Kong’s stock exchange smoothed the path for biotech initial public offerings. Richard Yeh, a …

Bloomberg A flurry of activity in a remote Canadian town is raising optimism that Royal Dutch Shell Plc and its partners are ready to go ahead with the nation’s largest infrastructure project: a C$40 billion ($30 billion) LNG terminal that could at last unlock energy exports to Asia. The action is unmistakable in Kitimat, British Columbia, the Pacific coast city …