Bloomberg Pakistan’s former premier Imran Khan said his lawmakers are quitting regional legislative assemblies, ending his months-long protest, to mount further pressure for snap elections days after the appointment of a new army chief. “We won’t be part of this system anymore,” he said at a packed rally in the garrison town of Rawalpindi, an event that he pressed on ...

Bloomberg Indonesian President Joko Widodo urged his supporters to vote for a “fully white-haired” leader, his most upfront show of support yet for a presidential hopeful. “Look at the leader’s hair too, if it’s fully white, that means they are thinking about the people,” Jokowi, as the president is popularly known, said to his almost 150,000 supporters gathered at a ...

  Bloomberg Venezuela’s battling political factions restarted negotiations in Mexico, signing a rare deal to work together on a humanitarian spending plan and setting the stage for the US to ease rules on Chevron to operate in the country. Representatives of the Venezuelan government and the opposition signed a humanitarian agreement that seeks to get access to some of the ...

    Bloomberg The European Central Bank (ECB) is imposing higher capital requirements on lenders including BNP Paribas SA and Deutsche Bank AG, arguing that they have ignored warnings to cut risk in the lucrative business of leveraged finance, according to people familiar with the matter. The French and German investment banks are among a handful of institutions who are ...

Bloomberg India’s banking regulator asked a unit of Paytm to resubmit its application for approval required to provide payment aggregator services, a potentially lucrative business the company is trying to expand into. The Reserve Bank of India (RBI) asked Paytm Payments Service Ltd. to resubmit its application after seeking necessary approvals from its parent to comply with foreign direct investment ...

  Bloomberg Goldman Sachs Group Inc. plans to set up shop in Munich to strengthen its coverage of Germany’s biggest, and newest, companies. The US investment bank is close to signing a lease for an office on upmarket Maximilianstrasse from the end of 2023, people familiar with the matter said, asking not to be identified discussing confidential information. It will ...

  Bloomberg Pakistan unexpectedly raised its benchmark interest rate by a full percentage point to prevent stronger-than-anticipated inflation from spiraling out of control. State Bank of Pakistan increased the target rate to 16%, a move expected by just one of 44 economists in a Bloomberg survey while the rest had predicted no change. The authority also raised its annual inflation ...

  Bloomberg China’s central bank cut the amount of cash lenders must hold in reserve for the second time this year, ramping up support for an economy racked by surging Covid cases and a continued property downturn. The People’s Bank of China (PBOC) reduced the reserve requirement ratio for most banks by 25 basis points, it said in a statement. ...

  Bloomberg The UK is on course to botch the shift away from the combustion engine and end up a carmaking minnow. This week, mostly UK-based electric-van startup Arrival announced its CEO and president were stepping down. Last week, the CEO of Britain’s biggest auto manufacturer, Jaguar Land Rover, resigned after making little headway on an all-electric shift announced almost ...

  Bloomberg Foxconn Technology Group has begun offering 10,000 yuan ($1,400) to any workers who choose to leave, an unusual decision intended to appease disgruntled new hires who played a central role in violent protests that rocked the world’s largest iPhone factory. Apple Inc.’s main global production partner said in an online notice the sum, to be paid out in ...