December, 2022

• 9 December

  China reveals gold buying after purchases

    Bloomberg China reported an increase in its gold reserves for the first time in more than three years, shedding some light on the identity of the mystery buyers in the bullion market. The People’s Bank of China (PBOC) raised its holdings by 32 tons in November from the month before, according to data on its website. That brought its ...

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• 9 December

  Most valuable Indian startup seeks easier terms on $1.2b loan

  

    Bloomberg Indian online-education provider Byju’s is seeking to restructure its $1.2 billion loan as it struggles with steep losses and cost reduction targets, according to people familiar with the information. The nation’s most valuable startup, valued at $22 billion, has appointed an adviser to discuss tweaks in covenants of the term loan B with creditors, the people said, asking ...

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• 9 December

  Strikes in Russia leave Ukraine allies uneasy at Putin reply

  

  Bloomberg While this week’s drone attacks on Russian airfields that the Kremlin blamed on Ukraine were of largely symbolic value, Kyiv’s apparent readiness to take the war to Vladimir Putin may be constrained by nervousness among its allies over his potential reaction. The strikes at three airfields, including ones used on bombing missions against Ukraine’s civilian infrastructure, boosted morale among ...

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• 9 December

  Malaysia to probe ex-PM on links to funds case

  

  Bloomberg Malaysia’s anti-graft agency will summon former premier Muhyiddin Yassin and two ex-cabinet ministers who served in his administration for the alleged misappropriation of 600 billion ringgit ($136 billion) of public funds for tackling the pandemic. The other two are former health minister Khairy Jamaluddin and ex-finance minister Zafrul Aziz, who now heads the international trade and industry ministry in ...

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• 9 December

  Modi’s BJP retains power in Gujarat in landslide poll victory

  

  Bloomberg Indian Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP) won a landslide election in his home turf Gujarat, showing his appeal with voters remains intact despite higher living costs. The victory in the western state of Gujarat will help the 72-year-old leader build momentum for national elections due in less than 18 months. Modi is looking to extend his ...

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• 9 December

  S Africa’s oppn puts Ramaphosa at mercy of his party in key vote

    Bloomberg South Africa’s main opposition parties want President Cyril Ramaphosa to be subjected to impeachment proceedings after an advisory panel found he may have breached the constitution, leaving him reliant on the governing ANC to shield him from a parliamentary probe. The panel headed by Sandile Ngcobo, a former chief justice, issued a scathing assessment of Ramaphosa’s handling of ...

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• 9 December

  US set to pass military bill to boost Taiwan

  

  Bloomberg The US is set to pass legislation ramping up weapons sales to Taiwan and restricting government use of Chinese semiconductors, strengthening the White House’s hand while excluding measures considered most objectionable to Beijing. Language in the must-pass annual defense legislation reflects how lawmakers on both sides of the aisle have shown a growing willingness to confront China, despite White ...

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• 9 December

  Croatia set to join visa-free Schengen area from January

    Bloomberg Croatia won the EU’s endorsement to join the region’s visa-free travel area while Bulgaria and Romania’s bid was delayed. EU home affairs ministers agreed in Brussels that Croatia should be allowed to join the so-called Schengen area on January 1. This means the country will no longer be bound by the bloc’s internal border controls and paves the ...

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• 8 December

  US likely to enter recession next year, warns Citi’s CEO

  

  Bloomberg Citigroup Inc is seeing countries around the world roll into recessionary environments, with the US economy on track to follow them in the second half of next year, said Chief Executive Officer Jane Fraser. The New York-based bank is worried in particular about Europe, which Fraser said has already entered a recession. It may take years for countries across ...

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• 8 December

  Yuan faces reality check on China reopening rally

  

    Bloomberg The yuan rally spurred by China’s reopening optimism is set to face a reality check as doubts grow on whether any economic rebound will match the currency’s rapid gains. The yuan wiped out nearly a third of its yearly loss last month before surging past the key 7 per dollar level. Its appreciation beyond 6.95 would suggest the ...

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