International News

Bloomberg Alpan Lighting Products, Inc, a US manufacturer of solar lamps, is shifting production from China to Indonesia, joining droves of companies looking to escape higher tariffs triggered by the trade war with the US. PT CDS Asia, a unit of Alpan, will invest $14 million to build a factory in an industrial zone in Central Java, Indonesia’s Investment Coordinating ...

Bloomberg Hangzhou Wahaha Group Co, one of China’s biggest drink makers, is weighing an initial public offering that could raise more than $1 billion, according to people with knowledge of the matter. A listing could come as soon as next year, the people said, asking not to be identified as the matter is private. The beverage company is working with ...

Bloomberg Thailand’s plan to target high-spending foreigners to kick-start its travel sector has a green light after winning Cabinet approval and additional support from the nation’s aviation regulator. The Southeast Asian nation lifted on July 1 a near-total ban on foreign travellers. The majority of arrivals in the initial phase will be foreigners with direct ties to Thailand — such ...

Bloomberg Faked immigration records in the Philippines were used to throw off authorities seeking a former executive at Wirecard AG, who went missing after the German firm was implicated in an accounting scandal. Immigration records seemed to indicate that Wirecard’s former second-in-command Jan Marsalek passed through the Philippines late last month. But video footage, airlines manifests and other records confirm ...

Bloomberg The technology venture of billionaire Mukesh Ambani secured 18.95 billion rupees ($253 million) from Intel Capital, adding to a slew of investments since April that have reached more than $15 billion. The investment arm of computer chip giant Intel Corp agreed to buy a 0.39% stake in Jio Platforms Ltd, giving the business an equity value of $65 billion, ...

Bloomberg India has set an ambitious timeline for its first potential coronavirus vaccine — from human trials to general use in six weeks. Bharat Biotech International Ltd, an unlisted Indian vaccine maker, received regulatory approval to start human clinical trials for its experimental shot earlier this week and it already has India’s apex medical research body expediting the process. The ...

Bloomberg The UK will plow 800 million pounds ($1 billion) into job centers, in an effort to cope with a wave of unemployment in the wake of coronavirus pandemic. The government will double the number of work coaches to 27,000 to help benefit claimants back into work, with an initial 4,500 hires by October, the Treasury said in a statement. ...

Bloomberg An average of 178,000 workers have been exiting Spain’s furlough program every week to return to their jobs, a sign that the economic recovery is slowly gathering pace in a country that’s expected to suffer one of Europe’s deepest recessions this year. The daily exodus has accelerated as authorities gradually lifted a strict nationwide lockdown that crippled Europe’s fourth-largest ...

Bloomberg The UK government is set to award 5 billion pounds ($6.2 billion) of coronavirus testing contracts to private companies as it overhauls the way it tracks Covid-19. The tender from Public Health England, announced in a public notice, comes after Britain’s coronavirus-testing effort has been dogged by reports of missing tests and long waits for results. The UK currently ...

Bloomberg Budget restrictions for European Union (EU) member states will apply again after the coronavirus-driven recession is over, European Commission Executive Vice President Valdis Dombrovskis said in an interview with Corriere della Sera. The EU’s stability pact — rules to ensure members pursue sound public finances and coordinate fiscal policy — remains active, Dombrovskis said in the interview, specifying that ...