International News

Bloomberg Hong Kong’s exports rebounded in September on the back of a recovering Chinese economy, Financial Secretary Paul Chan said his blog post on Sunday. The city’s third-quarter gross domestic product should show a significant improvement from the two preceding three-month periods, Chan said. Hong Kong’s GDP slumped by about 9% in both the first and second quarters as the ...

Bloomberg Singapore is seeking to reduce the amount of time it takes to regularly check migrant workers for coronavirus infection by piloting the use of antigen rapid tests. For a period of four weeks, a group of 1,000 migrant workers will undergo antigen rapid testing every seven days, the Ministry of Manpower said in a statement. That’s in addition to ...

Bloomberg The Malaysian Estate Owners Association says new virus-related restrictions on palm operations will cause potential losses of as much as 900 million ringgit ($217 million) a month to the oil palm sector in the state of Sabah. If the entire oil palm supply chain in Sabah is constrained by a recent order to operate at 50% capacity, the state ...

Bloomberg Holding companies controlled by energy-to-mining tycoon Anil Agarwal face the highest debt repayments in several years just as credit rating firms step up warnings. Vedanta Ltd holding companies Vedanta Resources Ltd and Volcan Investments Cyprus Ltd must repay a combined $1.17 billion next year. That’s the most since 2017, according to data compiled by Bloomberg. A Vedanta Resources bond ...

Bloomberg Ant Group Co set the price of its record initial public offering in Shanghai, its billionaire founder Jack Ma said, without disclosing the price. Ma’s Chinese fintech giant is one of the most hotly anticipated IPOs in years, on course to make history by surpassing Saudi Aramco’s record $29 billion share sale in 2019. He commented on the pricing ...

Bloomberg Cheng Uei Precision Industry Co, a Taiwan-based cable and connector maker, will start mass production for Apple Inc later this year from its new plant in India, according to a person familiar with the matter, the latest sign of the US company’s increasing presence in the South Asian country. Apple’s major assembly partners, Taiwan’s Foxconn Technology Group, Pegatron Corp ...

Bloomberg China is reconsidering its strategy for the internationalisation of the yuan and planning for more policy support after completing a comprehensive review recently, according to a senior central bank official. “As everybody knows in the past, the internationalisation of the RMB (yuan) sticks to the market principles,” Zhu Jun, director general of the People’s Bank of China’s international division, ...

Bloomberg Criminal gangs may have received as much 2 billion pounds ($2.6 billion) from the UK’s rush to deliver wage support during the pandemic. While Chancellor of the Exchequer Rishi Sunak’s furlough programs have sustained millions of workers through the crisis, the rush to build them from scratch opened the door to massive fraud, according to the National Audit Office ...

Bloomberg Italy and Spain are preparing to extend virus restrictions this week as new cases surge in the two countries that were at the epicenter of the initial wave of the coronavirus pandemic in Europe. In Italy, Prime Minister Giuseppe Conte approved a plan to limit opening hours for restaurants, and shut entertainment centres and gyms. Italians will also be ...

Bloomberg Two of Argentina’s largest creditor groups excoriated the government for mismanaging the economy, saying the country was headed for disaster just seven weeks after restructuring $65 billion in debt. The investors urged policy makers and International Monetary Fund (IMF) to do their part to set the stage for an economic recovery. They said in a joint statement that the ...