March, 2016

• 12 March

  Who will be Myanmar’s next president?

  

  On Thursday, Myanmar’s parliament met to put forward presidential candidates four months after opposition leader Aung San Suu Kyi’s National League for Democracy (NLD) swept historic elections in the country. Under Myanmar’s complicated selection process, the country’s next president is chosen from among three vice-presidents elected by its parliament or Pyidaungsu Hluttaw, with one candidate from the lower house (Pyithu ...

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• 12 March

  China’s startups weather the economic slowdown

  

  Currency depreciation is not always bad for a country’s economy, but after a series of stock market crashes this past summer, the Chinese economy seems to be going down on what many experts perceive to be a spiral of decline. Many wealthy Chinese people have been going out of their way to move their financial assets abroad, aiming to get ...

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• 12 March

  The cost of Cambodia’s progress

  

  When Ieng Ty first stepped onto Otres beach in southern Cambodia, it was empty. He stood for a while, looking over translucent green waters to the hazy blue sky. Behind him, scrubby trees swayed in the firm breeze. An upsetting memory surfaced and, for a second, the surf sounded like the raspy breath of those people he’d seen starve in ...

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• 12 March

  China industrial output, retail sales slow as property gains

  

  BEIJING/ Bloomberg China’s industrial production and retail sales both slowed in the first two months of the year, highlighting the pressure leaders will face to meet this year’s annual growth target even as the central bank governor said major stimulus wasn’t needed. Industrial output rose 5.4 percent from a year earlier in January and February, the National Bureau of Statistics ...

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• 12 March

  Nestle recall in US jolt for convenience meal revamp

  

  Bloomberg Nestle SA recalled 12 types of products under the DiGiorno, Lean Cuisine and Stouffer’s brands in the US because they may contain small pieces of glass, a setback for brands that the Swiss food company has been trying to revitalise. No injuries have been reported, according to the Vevey, Switzerland-based company, which announced the recall of a “limited” number ...

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• 12 March

  Ulta shares jump after forecast tops analysts’ estimates

  

  Bloomberg Ulta Salon, Cosmetics & Fragrance Inc. rallied the most since 2014 after its first-quarter forecast topped analysts’ estimates, helped by growing demand for beauty products. Earnings will be $1.25 to $1.30 a share in the period, the Bolingbrook, Illinois-based company said in a statement. Analysts’ had estimated $1.22 on average, according to data compiled by Bloomberg. The company, which ...

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• 12 March

  Casino’s Big C Vietnam stores all set to draw Lotte, TCC bids

  

  Bloomberg South Korea’s Lotte Group is among suitors that submitted bids for French retailer Casino Guichard-Perrachon SA’s Vietnam grocery business, which could fetch as much as $800 million, people with knowledge of the matter said. Billionaire Charoen Sirivadhanabhakdi’s TCC Holding Co. and Central Group, controlled by Thailand’s Chirathivat family, also submitted first-round offers by the March 10 deadline, the people ...

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• 12 March

  Buckeye pipeline leak doesn’t affect JFK jet-fuel supply

  

  Bloomberg A leak discovered on a Buckeye Pipe Line Company LP pipe that is the primary source of jet fuel for John F. Kennedy (JFK) International Airport hasn’t affected operations at the hub, according to the Port Authority of New York and New Jersey. “JFK has enough jet fuel for three days, so the airport is equipped to respond to ...

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• 12 March

  Altering levy: British banks slam UK Treasury

  

  LONDON / Bloomberg Britain’s banks have criticised the UK Treasury’s plan to pare back the scope of the bank levy to lenders’ domestic businesses only, warning international operations could still be subject to taxation after the changes. Under the government’s current proposal, funds raised at a UK holding company level and then passed down to an international subsidiary would continue ...

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• 12 March

  Oil crash: Azeri crisis depletes Central Bank

  

  BAKU / Bloomberg The once-in-a-generation crash in oil prices sent the Azeri economy staggering into a crisis and the central bank is running out of options to stop the unraveling. Every seventh lender is now shut, the currency is testing new lows and by one measure Azerbaijan’s international reserves are as thin as Ukraine’s. The central bank has little to ...

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