International News

Bloomberg Pay increases across India’s organised sector will probably grow at the slowest pace since 2009 this year, according to a survey from Aon Plc. Companies will increase average pay by 9.1% in 2020, down from 9.3% in 2019 and 9.5% the previous year, Aon said in a report. The small increase reflects a deep slowdown in Asia’s third-largest economy, ...

Bloomberg Indonesia plans to impose excise duty on plastic bags, sugary drinks and vehicle emissions with the new levies expected to net the government about $1.7 billion in additional revenue annually. The new measures, apart from bolstering tax collections, are aimed at tackling climate change as well as a growing prevalence of chronic diseases, Finance Minister Sri Mulyani Indrawati told ...

Bloomberg A growing number of China’s private companies have cut wages, delayed paychecks or stopped paying staff completely, saying that the economic toll of the coronavirus has left them unable to cover their labour costs. To slow the spread of the virus that’s claimed more than 2,000 lives, Chinese authorities and big employers have encouraged people to stay home. Shopping ...

Bloomberg Reliance Industries Ltd, controlled by Indian billionaire Mukesh Ambani, is merging its media and distribution businesses spread across multiple entities into Network18 Media & Investments Ltd to help simplify the structure of the assets. The broadcasting business, TV18 Broadcast Ltd, will be housed in Network18, while the cable and internet services will be folded under two separate wholly owned ...

Bloomberg India is open to greater market access for American farm and dairy products and lower duties on Harley-Davidson Inc motorcycles as it seeks to conclude a trade deal with the US in time for President Donald Trump’s scheduled visit next week, according to people with knowledge of the matter. New Delhi is willing to allow market access for US-produced ...

Bloomberg As Nissan Motor Co’s shareholders met on Tuesday to place new management on the board, the backdrop was grim. Sales and profitability are declining, a turnaround plan isn’t due for another three months and the stock is hovering near decade lows. Chief Executive Officer Makoto Uchida, Chief Operating Officer Ashwani Gupta, Executive Vice President Hideyuki Sakamoto and Renault SA ...

Bloomberg Singapore unveiled a series of support packages in its budget on Tuesday to help cushion the economy against the coronavirus outbreak and job risks. Finance Minister Heng Swee Keat said he will set aside S$800 million ($575 million) to fight the spread of the coronavirus outbreak, and provide two economic support packages totalling S$5.6 billion to support businesses and ...

Bloomberg China will start accepting applications for tariff waivers on a wide range of American commodities as it seeks to show commitment to keeping its side of the trade deal with the Trump administration. China’s Ministry of Finance on Tuesday published a list of 696 American products including soybeans, beef, corn, wheat, crude oil and liquefied natural gas that will ...

Bloomberg European carmakers started off the year with their first sales decline in five months after changes to emission rules and consumer incentives crimped demand for some models. January passenger-car registrations declined 7.4% to 1.1 million vehicles in the EU, EFTA and the UK, according to a statement on Tuesday from the European Automobile Manufacturers Association. Some sales that would ...

Bloomberg Chancellor of the Exchequer Rishi Sunak said he is preparing to deliver the UK budget as planned on March 11, an announcement that ends days of speculation that his sudden appointment to the post last week would force a delay. “Cracking on with preparations for my first budget on March 11,” Sunak said on Twitter. “It will deliver on ...