February, 2023

• 27 February

  Germany, India to boost cooperation in renewables, defense

  

  BLOOMBERG Germany and India agreed to partner on technology to make a transition to renewable energy easier, and deepen defense cooperation and trade during Chancellor Olaf Scholz’s first visit to the South Asian nation as leader. “We want to further strengthen trade ties between the European Union and India,” Scholz said in New Delhi after meeting Indian Prime Minister Narendra ...

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• 27 February

  Germany faces $1trn challenge to plug its massive power gap

  

  BLOOMBERG Germany has set aside more than €260 billion ($275 billion) to deal with the immediate risks of an energy crisis triggered by Russia’s war in Ukraine, but the ultimate fix will be much costlier — if the country can pull it off at all. The pending price tag for future-proofing the country’s energy system is projected to amount to ...

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• 27 February

  Thai election campaign intensifies with key parties promising perks

  

  BLOOMBERG Thailand’s major political parties are ramping up their policy promises to cement a foothold in regional bastions ahead of a general election in May. Campaigning in north Thailand’s Chiang Rai province, the main opposition Pheu Thai Party vowed to triple farmers’ income during the first four years in office if elected. That will be achieved by introducing new farming ...

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• 27 February

  India’s ‘new alliance’ take on Modi in 2024 vote

  

  BLOOMBERG India’s main opposition Congress party said it will forge alliances with some regional groups to challenge Prime Minister Narendra Modi’s government in next year’s general elections. Congress had formed coalition governments from 2004 to 2014 with “friendly allies” and will forge alliances with like-minded political groups for the 2024 polls, party President Mallikarjun Kharge said. Congress’ top leadership are ...

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• 27 February

  Northern Ireland deal could be struck in ‘matter of days’: Raab

  

  BLOOMBERG A deal with the European Union over trade barriers in Northern Ireland could be struck in the coming  days, deputy Prime Minister Dominic Raab has said. “Hopefully there’ll be good news in a matter of days, not weeks.” Raab said in an interview with Sky News’ Sophy Ridge. “We are not there yet. But we are obviously in a ...

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• 27 February

  China to host Belarus leader after seeking ceasefire in Kyiv

  

  BLOOMBERG China will host the president of Belarus in a state visit this week, welcoming an ally of Vladimir Putin as the US expresses concerns that Beijing may yet decide to provide weapons support to Russia that would assist it in its war in Ukraine. Alexander Lukashenko is visiting at the invitation of President Xi Jinping, China’s foreign ministry said ...

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• 27 February

  Goldman Sachs sees 8% risk premium in shekel

  

  BLOOMBERG Analysts at Goldman Sachs Group Inc are reluctant to call the worst is over for the shekel after a “significant” risk premium built up in the Israeli currency as a result of domestic political turmoil. The currency’s close correlation with global technology stocks began to break in late January, a deviation that’s continued despite the central bank’s larger-than-forecast hike ...

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• 27 February

  Argentina in talks with IMF to ease ‘key targets’ amid drought

  

  BLOOMBERG Argentine officials intend to lower a key target in the country’s $44 billion agreement with the International Monetary Fund (IMF) as a severe drought weakens the economic outlook, according to an Argentine government official. Both sides are discussing a smaller figure for net reserve accumulation in 2023, a cornerstone of the deal seen as the only major anchor providing ...

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• 27 February

  HSBC looks to halve space for head office in London

  

  BLOOMBERG HSBC Holdings Plc is looking for a new global headquarters less than half the size of its current space in London’s Canary Wharf, according to the Sunday Times. The bank is considering a new head office of between 400,000 and 500,000 square feet, the newspaper reported. HSBC has been reviewing its workplace needs once its current lease ends in ...

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• 27 February

  ECB policy will be as restrictive as needed, says Italy’s Visco

  

  BLOOMBERG The European Central Bank (ECB) will raise interest rates as high as necessary to bring inflation back down to 2%, said Governing Council member Ignazio Visco. It’s impossible for now to say what level borrowing costs will have to reach to achieve that target, Visco, who also heads Italy’s central bank, said in a Bloomberg TV interview. Policy will ...

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