February, 2023

• 16 February

  Adani rout rattles confidence in local insurer assets: Bain

    Bloomberg Embattled tycoon Gautam Adani’s challenges have knocked the confidence of strategic insurance investors seeking to establish partnerships in India, according to Bain & Co’s mergers and acquisitions head for Asia Pacific. Global firms, which typically hold significant stakes in the government-regulated sector, are worried about finding strong local partners who they can trust, said Bain’s Harshveer Singh. “They ...

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• 16 February

  Global warming is making India prone to extreme weather events

  

  Bloomberg India is likely to witness more extreme weather events, including intense heat waves, heavy flooding and severe drought that pose challenges to food and energy security for the second-most populous nation. “The extremes are increasing — hot is becoming hotter and cold is becoming colder,” said M Ravichandran, the top bureaucrat at the country’s earth sciences ministry. This trend ...

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• 16 February

  Malaysia to focus on living costs, raising wages

    Bloomberg Prime Minister Anwar Ibrahim is exploring how to boost wages for Malaysian workers, as gloomy economic prospects pose headwinds to his fledgling administration. Malaysia plans to set a wage growth target for all workers and formulate policies to support this, Economy Minister Rafizi Ramli told a press conference. The National Economic Action Council will meet in March to ...

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• 16 February

  Dabur mulls acquisitions to expand across India, SE Asia

  

    Bloomberg Dabur India Ltd, a major consumer goods maker controlled by the billionaire Burman family, is scouting for acquisitions at home and in Southeast Asia as it works to establish its presence in a new overseas market amid heated domestic competition. On the back of its $71 million purchase of spice producer Badshah Masala Pvt Ltd in October, the ...

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• 16 February

  US says 3 mystery objects likely private, with no China link

  

    Bloomberg The Biden administration suspects that three unidentified objects downed served commercial purposes and weren’t used for spying, a judgment that may help ease anxiety over a Chinese balloon that traversed the US before being shot down. The intelligence community believes the objects — unlike the giant airship shot down on February 4 — “could just be balloons tied ...

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• 16 February

  Turkey has right to decide on Finland, Sweden bids: Nato

  

  Bloomberg Turkey has the right to decide how it wants to ratify Finland and Sweden’s Nato memberships, the alliance’s Secretary General Jens Stoltenberg said, even as he urged Ankara to give the green light to both Nordic countries. “It is for Turkiye to decide whether they ratify both — and I recommend that — or whether they ratify only one ...

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• 16 February

  Nicola Sturgeon resigns as Scotland’s first minister

  

  Bloomberg Scottish First Minister Nicola Sturgeon resigned after more than eight years as head of the country’s government and independence movement in a surprise move that will reverberate across UK politics. Sturgeon, 52, has headed the semi-autonomous administration in Edinburgh since 2014. The decision to step down comes after an unusually turbulent time for Sturgeon. It leaves her Scottish National ...

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• 16 February

  Khan’s party to court arrest in push for early vote

  

  Bloomberg Pakistan’s former Prime Minister Imran Khan said his party will court arrest to protest the government’s refusal to hold early elections and fight the tough measures being put in place to unlock a crucial loan from the International Monetary Fund (IMF). Khan’s Pakistan Tehreek-e-Insaf party will continue its campaign to push for early elections — and will take to ...

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• 16 February

  Keir Starmer blocks Corbyn from standing for UK Labour at vote

    Bloomberg UK Labour Party leader Keir Starmer blocked his predecessor Jeremy Corbyn from standing as a candidate for the party at the next general election, as the opposition seeks to draw a line under the antisemitism scandals that have plagued its recent past. “Jeremy Corbyn will not stand for Labour at the next general election,” Starmer said morning, in ...

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• 16 February

  Barclays profit declines 8% as fixed income traders fall short

  

  Bloomberg Barclays Plc slumped after posting a surprise drop in profit as revenue missed estimates across every major business line. Inside the corporate and investment bank, dealmakers faced a continued drought, traders fell short of hopes and the bank recorded further losses tied to its leveraged finance portfolio. At the firm’s UK franchise, the net interest margin — a key ...

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