December, 2022

• 27 December

  India to spend $24.1bn on free grains

    Bloomberg India will provide free grains to about 800 million people for one year, a move that could help the ruling party reap political benefits and set the tone for PM Narendra Modi’s reelection for a third term. The government will spend 2 trillion rupees ($24.1 billion) on the program, Food Minister Piyush Goyal said after a cabinet meeting. ...

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• 27 December

  Advent to buy majority stake in Suven Pharma for $762mn

  

    Bloomberg Advent International Corp, one of the world’s largest private equity firms, will purchase a controlling stake in India’s Suven Pharmaceuticals Ltd for at least 63.13 billion rupees ($762 million), triggering an open offer to buy further shares in the family-run firm. The buyout firm agreed to acquire 50.1% of Suven from the Jasti family, according to an exchange ...

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• 26 December

  China holds biggest military drill near Taiwan since Pelosi trip

  

  Bloomberg China sent 71 warplanes near Taiwan as a part of its biggest display of military might since US House Speaker Nancy Pelosi visited the democratically run island, with Taipei accusing Beijing of “military intimidation.” The Ministry of Defense in Taipei said the flights included 47 Chinese military aircraft that crossed either the median line of the Taiwan Strait or ...

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• 26 December

  Drone attack on Russian bomber air base leaves three servicemen dead

  

  Bloomberg Three servicemen were killed during a Ukrainian drone attack at a military air base in southern Russia that hosts strategic bombers, the Defense Ministry in Moscow said. The military personnel died from falling wreckage when Russian air defenses shot down the drone, the state-run Tass news service reported, citing the ministry. No aircraft were damaged, it said. It’s the ...

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• 26 December

  Brazil to boost security for Lula inauguration after bomb threat

    Bloomberg Brazil will reevaluate the procedures for President elect Luiz Inacio Lula da Silva’s inauguration after an explosive near capital Brasilia’s international airport was disarmed, the country’s incoming justice minister said. Flavio Dino wrote in his official Twitter account that all procedures in the inauguration, set for January 1, “will be reassessed, with a view to strengthen security.” “President ...

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• 26 December

  Seoul deploys jets after North sends drones

  

    Bloomberg South Korea suspended some commercial flights and scrambled military assets to shoot at drones from North Korea that crossed their heavily armed border on Monday. South Korea’s Joint Chiefs of Staff (JCS) said the military detected multiple “unidentified objects” in the country’s airspace presumed to be unmanned aerial vehicles crossing the border from 10:25 am in Gyeonggi province, ...

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• 26 December

  China to end quarantine for Hong Kong border on Jan 3

    Bloomberg China may remove quarantine requirements for cross-border travellers between Hong Kong and the mainland as early as January 3, the South China Morning Post (SCMP) reported, citing mainland official sources. A policy known as “0+3” is being considered, under which travellers to the mainland would no longer be required to undergo five days of quarantine and instead only ...

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• 26 December

  Aid groups stop operations as Taliban ban women NGO staff

  

  Bloomberg Several aid groups are suspending operations in Afghanistan after the Taliban imposed a new ban on women working in non-governmental organisations, potentially disrupting humanitarian assistance to millions during the harsh winter months. “If we are not allowed to employ women, we are not able to deliver to those in need,” said the International Rescue Committee (IRC), one of Afghanistan’s ...

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• 26 December

  Vietnam’s TPBank sees 15% rise in 2023 profit

  

    Bloomberg Vietnam’s Tien Phong Commercial Joint Stock Bank (TPBank) expects its pretax profit to rise 15% next year as the nation’s pioneer in adopting automation technology benefits from cost savings, according to Chief Executive Officer Nguyen Hung. “We see a 15% rise in pretax profit next year is quite doable as we aim to increase using robotic process automation ...

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• 26 December

  Kuroda emphasises BOJ’s new policy tweaks ‘are not an exit’

  

    Bloomberg Bank of Japan (BOJ) Governor Haruhiko Kuroda stressed that the bank’s latest tweaks on its bond yield control program were not the beginning of an exit of monetary easing, but a way to make it sustainable and run smoothly. “This is definitely not a step towards an exit,” Kuroda said in a speech at an event hosted by ...

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