International News

Bloomberg If the resilience of emerging markets to rising interest rates is all about the growth outlook, then data from China this week will be key. The country, the world’s biggest emerging market, releases gross domestic product statistics. Less than a week after Angola abandoned its dollar peg, another African nation— Morocco —is due to make good on a promise ...

Bloomberg India’s proposal to curb drug prices by stripping generic medicines of their brand names has stalled after the plan faced pushback from the country’s pharmaceutical companies, according to people with knowledge of the matter. The Draft Pharmaceutical Policy circulated in 2017 by the Department of Pharmaceuticals has made no progress since opposition emerged from the industry and among some ...

Bloomberg Hong Kong retained its title as Asia’s most expensive rental city for expatriates, while Singapore fell further down the ranking due to a slower economy and fewer relocations, according to consultancy firm ECA International. Hong Kong sat atop the list with an average price of $10,461 per month for an unfurnished, three-bedroom apartment in expatriate neighbourhoods, according to results ...

Bloomberg The European Union has stepped up the demands for concessions that the UK must make during the transition period that follows Brexit, pushing back the cut-off date for the acquisition of rights for EU citizens, according to revised draft negotiating directives obtained by Bloomberg. The UK won’t be able to apply new immigration rules to EU citizens arriving during ...

Bloomberg US transportation regulators plan to take another step towards rewriting federal rules hampering the development and adoption of autonomous technologies— from cars and trucks to buses and trains. Department agencies will issue additional requests for comment to gather input from companies and the public on what rules affecting transport should change or be eliminated, Transportation Secretary Elaine Chao said. ...

Bloomberg BMW AG is betting an overhauled 5Series sedan and new X2 crossover will boost sales this year as the world’s second-biggest luxury carmaker works on its pledge to retake the global lead from Mercedes-Benz. Those models, plus an updated X3 utility vehicle, should carry BMW to gains in all markets, including the US and China, Chief Financial Officer Nicolas ...

Bloomberg The collapse of Carillion Plc with more than half a billion pounds of unfunded pension commitments may increase pressure on some of the nation’s biggest companies to plug their own funding gaps. The construction and services giant employs almost 20,000 people in Britain and has a pensions shortfall of 587 million pounds ($811 million). The government-backed Pension Protection Fund ...

Bloomberg Xiaomi Corp. selected Morgan Stanley and Goldman Sachs Group Inc. among international banks for its planned initial public offering, a person with direct knowledge of the matter said. Credit Suisse Group AG and Deutsche Bank AG have also been chosen to work on the IPO that could see the company target a valuation of as much as $100 billion, ...

Bloomberg Naspers Ltd. is in talks to lead an investment of as much as $200 million in India’s Swiggy to increase its stake in the online food-delivery company, according to two people familiar with the matter. Africa’s biggest company by market value plans to team up with China’s Tencent Holdings Ltd. to put together the new financing round, said the ...

Bloomberg China is escalating its clampdown on cryptocurrency trading, targeting online platforms and mobile apps that offer exchange-like services, according to people familiar with the matter. While authorities banned cryptocurrency exchanges in 2017, they’ve recently noted an uptick in activity on alternative venues. The government plans to block domestic access to homegrown and offshore platforms that enable centralised trading, the ...