October, 2022

• 18 October

  Lava eyes India venture with Chinese partner

    Bloomberg Indian smartphone maker Lava International Ltd. is in advanced talks with China’s Huaqin Technology Co. to create an electronics manufacturing venture in the South Asian nation. The venture would aim to win contracts from US and Chinese customers for research and development, design, and manufacturing of electronics products, according to a letter from Lava to India’s technology ministry ...

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• 18 October

  Defiant Xi tells world China is ready to stand its ground

  

  Bloomberg President Xi Jinping had a clear message to those who want to thwart China’s rise: You will fail. In a speech running almost two hours on Sunday, Xi let the world know that China wouldn’t change course even as it faces “dangerous storms” in a more hostile world. Instead, he declared the “rejuvenation of the Chinese nation is now ...

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• 18 October

  Russia hits Ukrainian capital Kyiv with kamikaze drones

    Bloomberg Four drone strikes hit central Kyiv on Monday morning as Russia used Iranian kamikaze drones to attack critical infrastructure, the second attack on the city in a week. Drones damaged several residential houses and a fire broke out in a non-residential building, Kyiv mayor Vitali Klitschko said on Telegram. Some streets were closed for traffic in the center ...

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• 18 October

  Ethiopia signals escalation in war with plan to seize airports

    Bloomberg Ethiopia said it plans to seize airports and other federal facilities in the northern Tigray region, signaling fighting will intensify after the US and African Union appealed for a cease-fire. The Ethiopian authorities also warned civilians and humanitarian groups to stay away from military assets controlled by the dissident Tigray People’s Liberation Front, according to a statement posted ...

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• 18 October

  Pakistan’s Khan wins majority of seats in by-polls

  

    Bloomberg Pakistan’s former prime minister Imran Khan won the majority of seats in by-elections on Sunday, building momentum in his campaign to pressure the six-month-old government into calling an early national vote. Khan contested seven of eight seats and has won six, according to data from the Election Commission of Pakistan. The Pakistan Peoples Party, a member of the ...

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• 18 October

  Swedish parliament votes for Kristersson as prime minister

    Bloomberg Sweden’s Moderate Party leader Ulf Kristersson won a vote to become the next prime minister, setting the stage for his nationalist-backed coalition to govern Nordic region’s largest economy as it heads toward a recession. The parliamentary ballot confirmed backing for Kristersson by four parties, including the Sweden Democrats. Now the country’s second-largest party, the anti-immigrant force will not ...

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• 18 October

  Truss faces whim of markets and mutinous UK MPs in key week

  

  Bloomberg Britain’s beleaguered prime minister Liz Truss is battling to rescue her premiership this week, when financial markets will deliver a fresh verdict on her screeching economic reset while mutinous backbenchers plot to oust her. Only 40 days in office, Truss spent Sunday huddling with new Chancellor of the Exchequer Jeremy Hunt, her pick to restore stability after a humiliating ...

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• 18 October

  Germany faces $85bn hit as labour shortages intensify

  

    Bloomberg As Germany grapples with an energy crisis threatening its future as an industrial leader, an acute shortage of workers is compounding problems for manufacturers already struggling to stay competitive. The lack of qualified labour — brought on by an aging population and exacerbated by the pandemic — is starving manufacturers from Airbus SE to BMW AG to BASF ...

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• 18 October

  Double-digit inflation all set to return in UK

  

    Bloomberg Double-digit inflation is set to return in the UK and linger through the end of this year despite the government’s effort to cap energy bills, a survey of economists shows. The findings gathered by Bloomberg also suggest the economy is now in a recession that will last until the second half of 2023 and that the Bank of ...

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• 18 October

  Vodafone plans $7 billion fiber venture with Altice in Germany

  

  Bloomberg Vodafone Group Plc will roll out fiber to the home in Germany in a deal with Altice Europe NV to share a $7 billion investment in its biggest market. The 50-50 fiber venture with French billionaire Patrick Drahi’s Altice will build fiber optic lines to as many as 7 million homes in Germany, the companies said in a statement ...

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