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Hong Kong plans to spend $6.4 billion to defend currency peg

Bloomberg This round of currency intervention in Hong Kong is far from over. That’s according to analysts, who’re watching the interplay between the amount of money in the city’s financial system and local borrowing costs. Shorting the Hong Kong dollar will remain profitable until the latter starts to go up sharply, and the monetary authority will spend at least another ...

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New Zealand to change gun laws after mosque massacre

Bloomberg New Zealand Prime Minister Jacinda Ardern said she will change gun laws as the country reels from a terrorist attack at two mosques that left 49 people dead and several still fighting for their lives. “While the nation grapples with a form of grief and anger that we have not experienced before, we are seeking answers,” Ardern told a ...

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Indonesia’s anti-graft agency names key Joko Widodo ally as suspect

Bloomberg The head of an Indonesian political party backing President Joko Widodo’s bid for a second term has been named a suspect in a graft case involving job postings at the Religious Affairs Ministry. A politician only identified by his initials RMY, and two ministry officials are suspects, said Laode Muhammad Syarif, deputy of the Corruption Eradication Commission, in a ...

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