November, 2022

• 25 November

  A rival’s misstep helped Anwar finally land Malaysia’s top job

  

  Bloomberg When Malaysia’s King Sultan Abdullah Sultan Ahmad Shah asked the two men vying to be the next prime minister if they would agree to form a unity government after neither had majority, one of them completely rejected the idea. The politicians before him —opposition leader Anwar Ibrahim and ex-premier Muhyiddin Yassin— were scrambling to draw support from parties and ...

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• 25 November

  Xi resumes in-person summits despite Covid spike

  

  Bloomberg A maskless President Xi Jinping met Cuban counterpart Miguel Diaz-Canel in Beijing, resuming his flurry of in-person summits even as a record Covid surge fanned lockdown fears in the Chinese capital. Xi expressed a willingness to “deepen trust” between the two nations during the talks, according to a video clip posted by state broadcaster China Central Television on Friday. ...

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• 25 November

  China vote-buying suspicions spur Taiwan to carry out raids

    Bloomberg Authorities in Taiwan carried out raids and questioned a group of people on suspicion they were buying votes on behalf of China in Saturday’s island-wide election. Law-enforcement officers searched four locations and detained three people using warrants issued under the Anti-Infiltration Act, which was passed in late 2019 and bars “foreign hostile forces” from interfering in elections, Taiwan’s ...

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• 25 November

  UK faces $19.42 billion bill for three months of energy subsidy

  

    Bloomberg Energy regulator Ofgem will raise its price cap for the average UK home by 21% to £4,279 ($5,173) from January, underscoring the growing gap the government has to plug to maintain its price freeze. The UK has been subsidising Ofgem’s price cap since October in an attempt to shield households from the worst energy crisis in decades. That ...

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• 25 November

  EU puts energy crisis steps on hold to address natural gas price cap

  

    Bloomberg The European Union (EU) paused efforts to approve a package of emergency measures to curb the fallout from high natural gas prices as member states struggled to resolve a deep split over a push to cap the cost of gas. Energy ministers holding an extraordinary meeting in Brussels agreed on the content of several emergency measures, but will ...

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• 25 November

  Renault signs France’s largest green power-purchase deal

  

    Bloomberg Renault SA is buying solar power from Voltalia SA over 15 years in what is France’s biggest renewable corporate power-purchase agreement. Voltalia will install 100 megawatts of solar panels on the carmaker’s sites across France from 2025, with that number rising to 350 megawatts by 2027, the Paris-based company said. The deal, which is part of the carmaker’s ...

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• 25 November

  Asia LNG prices jump to 7-week high

    Bloomberg Asia’s liquefied natural gas (LNG) spot price rallied to the highest level since early October on concern disruptions to production and the arrival of colder weather in key markets will further tighten supply. The Japan-Korea Marker, North Asia’s LNG benchmark, jumped 20% in the week to Wednesday to $34.24 per million British thermal units, according to traders citing ...

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• 25 November

  Germany sets windfall tax at 90% for clean power generators

  

    Bloomberg Germany has set out its plan to claw back 90% of the earnings from some clean power generators as the government seeks funding for its consumer aid package. The government is planning to skim 90% of earnings above €130 a megawatt-hour for solar, wind and nuclear, according to a draft law seen by Bloomberg News. Politicians are trying ...

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• 25 November

  China local governments face debt squeeze worth $2 trillion

  

    Bloomberg Signs are growing in China that local government debt burdens are becoming unsustainable. China’s 31 provincial governments have a stockpile of outstanding bonds that’s close to the Ministry of Finance’s risk threshold of 120% of income. Breaching that line could mean regions will face more regulatory hurdles to borrow, hampering their ability to drive up economic growth. In ...

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• 25 November

  India seeking to shrink budget deficit: Minister

  

    Bloomberg India wants to narrow its budget deficit by at least 50 basis points, according to people familiar with the matter, as authorities balance global investor scrutiny with the need for higher spending as the nation enters an election year. Finance Minister Nirmala Sitharaman will seek to shrink the shortfall to less than 6% of gross domestic product in ...

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