February, 2023

• 13 February

  Renault, Nissan investing $600m to expand their car lineup in India

  

  Bloomberg Renault SA and Nissan Motor Co unveiled their first joint project since announcing a revamp of their carmaking alliance last week. The pair will invest $600 million in India to expand their car lineup, add jobs and decarbonise a manufacturing plant in Chennai, the companies said in a joint statement. The initiative is a key element of the operational ...

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• 13 February

  India inflation returns to 6% level in Jan

    Bloomberg India’s inflation accelerated in January, breaching the top-end of the central bank’s target for the first time in three months and validating the concern of monetary authorities that price pressures are persistent and must be contained. The consumer price index rose 6.52% from a year earlier, according to data released by the Statistics Ministry on Monday. That compares ...

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• 13 February

  Adani cuts growth target in post-Hindenburg repair moves

  

    Bloomberg Gautam Adani’s conglomerate has halved its revenue growth target and plans to hold off fresh capital expenditure, according to people familiar with the matter, as the Indian billionaire seeks to rebuild investor confidence in the wake of a bruising short seller attack. The group will now aim for revenue growth of 15% to 20% for at least the ...

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• 13 February

  US shoots down fourth object as China flings new accusation

  

    Bloomberg The US military had never shot down an object in American airspace before taking out a Chinese balloon off South Carolina earlier this month. Now it’s becoming a near-daily occurrence. The sudden spate of US jets blasting unidentified objects of mysterious origin from the skies has provoked so much befuddlement — not to mention panic — that Pentagon ...

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• 13 February

  Chinese ship blinds crew of Philippine vessel with laser

  

    Bloomberg The Philippines said China should restrict its forces to prevent committing any “provocative act” after a Chinese ship directed a military-grade laser light at a Philippine coast guard vessel in an area claimed by both nations in the South China Sea. “It is time for the Chinese government to restrain its forces so that it does not commit ...

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• 13 February

  Moldovan leader accuses Russia of ouster plot in security push

  

    Bloomberg Moldova’s president called for heightened security and “maximum vigilance” after she cited fresh intelligence detailing Russian attempts to destabilise the country and overthrow her government. President Maia Sandu spoke three days after appointing a top security adviser, Dorin Recean, as prime minister, part of a government reshuffle that takes into account Moldova’s vulnerable position after Russia’s invasion of ...

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• 13 February

  Berlin vote makes Scholz’s ‘coalition’ harder

  

  Bloomberg German Chancellor Olaf Scholz faces more turbulence in his coalition after a bitter Berlin state election in which all three ruling parties lost support and one crashed out of the city’s parliament. The conservative Christian Democrats — the main opposition party at the national level — emerged as the clear winner after the vote in the German capital. They ...

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• 13 February

  Marcos says open to military access agreement with Japan

  

  Bloomberg Philippine President Ferdinand Marcos Jr said he’s open to a potential reciprocal military access agreement with Japan if it would protect the country’s fishermen and its maritime territory. “I don’t see why we should not adopt it,” Marcos said, according to a transcript of his interview with reporters. The Philippines is studying if the potential pact will indeed help ...

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• 13 February

  DBS profit beats estimates on lending, pays special dividend

  

    Bloomberg DBS Group Holdings Ltd’s fourth-quarter profit topped estimates, helped by lending gains as a strong capital base allowed the bank to deliver a special dividend. Net income increased 69% to S$2.34 billion ($1.76 billion) in the three months ended on December 31, Southeast Asia’s biggest lender said in a statement. That beat an average estimate of S$2.17 billion ...

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• 13 February

  Brexit cost every British household £1,000: BOE

  

  Bloomberg A Bank of England (BOE) policy maker has warned that a wave of business investment was “stopped in its tracks” by Brexit, dealing a blow to the UK economy worth £1,000 ($1,204) per households. Jonathan Haskel, an external member of the Monetary Policy Committee, said that the UK “suffered much more” from its productivity woes since exiting the European ...

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