Bloomberg Sierra Leone will hold elections on Wednesday in which an unprecedented number of political parties will compete as discontent over the government’s handling of an economy battered by the Ebola outbreak has soared. The vote marks a departure from a decades-old tradition that mainly divided the balance of power between the All People’s Congress and the opposition Sierra Leone ...
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Would President Trump rejoin TPP? Let’s hope so
During the 2016 presidential primaries, I found myself in a San Francisco park talking to guy who was eager to convince people not to support the Trans-Pacific Partnership (TPP), a proposed trade agreement among the US and other mostly advanced economies. For all his sincerity —his backpack was adorned with anti-TPP and Bernie Sanders pins —his rationale was vague, driven ...
Read More »What to expect from BOJ, ECB this week
The Bank of Japan (BOJ) and the European Central Bank (ECB) will refrain from any major changes when their policy-making committees meet later this week, even though both economies have recently been experiencing their strongest growth in more than a decade. For now, inflation (that is deemed too low) and currencies (that are deemed too strong) will dominate the decision-making ...
Read More »Foxconn’s China bounty is headache material in Taiwan
Labor in China is no longer cheap, but Terry Gou may have found a new way to profit from the mainland. Gou’s Foxconn Industrial Internet Co. is poised to list in China as early as April, just two months after filing an IPO application. Its Taiwan-traded parent, Hon Hai Precision Industry Co., will hold about 85 percent of Foxconn Industrial’s ...
Read More »Trump’s steel tariffs are far more ominous than Bush’s
At first glance, President Donald Trump’s new tariffs on steel and aluminum may look like a repetition of one of President George W. Bush’s mistakes. Bush also imposed tariffs on steel in his second year in office, and like Trump did it in part to keep a campaign promise he considered helpful in the Rust Belt. Bush’s tariffs are generally ...
Read More »Brexit talks go in circles
The most interesting part of the draft Brexit agreement the European Union published on February 28 is its complete disregard for the topsy-turvy mess that is UK’s internal politics. Something has been happening there every day —a major speech, a heated exchange, a clash of ambitions. Yet the EU’s position hasn’t evolved since the preliminary deal in December, and perhaps ...
Read More »China’s edge in big data isn’t enough
The digital world relies on data, and no one produces more of it than China’s 1.4 billion internet users. The vast wealth of information these users emit has helped Chinese tech companies become some of the world’s best, and led to speculation that China will inevitably dominate future technologies, such as artificial intelligence. But this is almost certainly mistaken. Data, ...
Read More »Nafta’s biggest challenge may come after a deal
US, Canadian and Mexican negotiators are cloistered in the Camino Real on the edge of Polanco in Mexico City, their sessions extending late in the night as they prepare for the arrival of ministers for the next round of talks on the North American Free Trade Agreement (Nafta). To contrast with the crackling tension ending the earlier meetings in Montreal, ...
Read More »Investigators to quiz Indian bank chiefs over $2bn fraud
Bloomberg Federal investigators are seeking to question the chiefs of India’s biggest lenders as they widen their probe into the $2 billion fraud at Punjab National Bank. The Enforcement Directorate has written to the heads of 31 banks asking to meet officials about the fraud, according to people familiar with the matter. The investigators will start with state-run PNB on ...
Read More »Kazakh financial hub eyes sovereign sukuk
Reuters Kazakhstan’s financial centre expects the government to issue Islamic bonds, or sukuk, in coming months as part of efforts to develop Islamic finance business in the central Asian country, an official said on Tuesday. Final legislative changes to allow issuance of sovereign sukuk are nearly complete, alongside registration of a special purpose vehicle by the Ministry of Finance, said ...
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