November, 2022

• 21 November

  Ukraine nuclear site damaged by powerful explosions, UN says

  

  Bloomberg Powerful explosions shook the area around Ukraine’s Zaporizhzhia nuclear power plant over the past day, causing damage at the site, the United Nations atomic agency said. Damage was seen at several buildings and equipment, though none so far has been critical to nuclear safety and security, the International Atomic Energy Agency said on its website, citing plant management. More ...

  Read More »
• 21 November

  Turkey bombs Kurdish militia in reprisal for deadly Istanbul attack

  

  Bloomberg Turkey carried out air strikes against US-backed Kurdish militant groups in Iraq and northern Syria in retaliation for a deadly bombing that targeted civilians in Istanbul a week ago. The offensive could shore up flagging domestic support for Turkish President Recep Tayyip Erdogan ahead of the 2023 election. Yet it risks stoking tensions with Washington, which supports Kurdish forces ...

  Read More »
• 21 November

  Malaysian coalitions start maneuvering after hung parliament

  

  Bloomberg Two Malaysian coalitions said they’re confident of getting enough support from outside their existing alliances to form a new government after the country’s first-ever hung parliament. Anwar Ibrahim’s Pakatan Harapan coalition got the most parliamentary seats — 82 of 220 — in Saturday’s vote, with former premier Muhyiddin Yassin’s Perikatan Nasional not far behind at 73. Prime Minister Ismail ...

  Read More »
• 21 November

  Europe reasserts middle path on China

  

  Bloomberg President Xi Jinping started his week overseas mending ties with the US, and ended it with European leaders making the case for resisting the Biden administration’s sweeping chip curbs on China. The shift in sentiment amounts to a victory for Xi on just his second foray outside of China since the pandemic began —a span that had seen Beijing’s ...

  Read More »
• 21 November

  Kamala Harris meets Xi as US-China tensions ease

    Bloomberg US Vice President Kamala Harris and China’s Xi Jinping met briefly on the sidelines of an Asian summit, in another signal of easing tensions between the world’s two largest economies. Harris said in a tweet that she used the exchange at the Asia-Pacific Economic Cooperation forum Saturday in Bangkok to stress the need for open lines of communication ...

  Read More »
• 21 November

  JPMorgan gives new parents 16 weeks of leave as perks boosted

  

    Bloomberg JPMorgan Chase & Co. made sweeping improvements to time off for bereavement, sick days, and caring for ill family members — including for the first time giving 16 weeks of leave to either parent for the birth or adoption of a child, regardless of which is the primary caregiver. The changes put the bank more in line with ...

  Read More »
• 21 November

  PBOC’s warning on inflation signals policy easing may be limited

  

    Bloomberg The People’s Bank of China (PBOC) warned inflation may accelerate as overall demand in the economy picks up, suggesting the scope for further monetary policy easing may be limited. The central bank “will pay serious attention to the underlying possibility of rising inflation, especially changes in the demand side,” it said in its quarterly monetary policy report. At ...

  Read More »
• 21 November

  Indonesia, Philippines deliver large interest-rate increases

  

    Bloomberg Monetary authorities in Indonesia and the Philippines delivered large interest-rate increases to curb inflation and support their currencies, while signalling their approaches to policy tightening may differ from here on. Bangko Sentral ng Pilipinas raised the key rate by a previously announced 75 basis points to 5%. Shortly after, Bank Indonesia lifted its benchmark rate by half-point to ...

  Read More »
• 21 November

  IMF urges Nigeria to let banks set naira rate

  

  Bloomberg The International Monetary Fund (IMF) has urged the Central Bank of Nigeria to reduce its interventions on the foreign-exchange market and allow banks to set the naira’s conversion rate. This will stop speculation around possible devaluation fuelled by dollar shortages, rising inflation, limited debt servicing capacity and restrictions on dollar transactions, the IMF said after a mission. “These factors ...

  Read More »
• 20 November

  Apple prepares to get made-in-US chips in pivot from Asia

  

  Bloomberg Apple Inc is preparing to begin sourcing chips for its devices from a plant under construction in Arizona, marking a major step towards reducing the company’s reliance on Asian production. Chief Executive Officer Tim Cook made the disclosure during an internal meeting in Germany with local engineering and retail employees as part of a recent tour of Europe, according ...

  Read More »