August, 2022

• 6 August

  China announces sanctions on Nancy Pelosi over Taiwan trip

  

  Bloomberg China announced sanctions on US House Speaker Nancy Pelosi over her landmark trip to Taiwan this week, making her the highest-ranking US official designated for penalties by Beijing. The Chinese Foreign Ministry announced the unspecified sanctions against Pelosi and her immediate family after the speaker departed from Japan late Friday. Earlier, Foreign Ministry spokeswoman Hua Chunying told a regular ...

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• 6 August

  India cracks down on opposition protests against rising prices

  

  Bloomberg Police swarmed parts of central Delhi and detained some leaders of India’s main opposition Congress party as they took to the streets of the capital to protest against soaring prices and unemployment. Dressed in black to symbolize their anger, Congress lawmakers, including former party chief Rahul Gandhi, were protesting near the parliament building Friday. His sister and Congress party ...

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• 6 August

  The US-led drive to isolate Russia and China is falling short

  

  Bloomberg When Group of Seven leaders gathered in the Bavarian Alps in June, they pledged to stand with Ukraine for the long haul. Their Group of 20 counterparts are proving less supportive. Comprising nations that account for some 85% of global economic output, the G-20 is supposed to be more reflective of the world. Yet only half its number has ...

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• 6 August

  Peru’s congress closer to ousting president

  

  Bloomberg Peruvian lawmakers are closer to the 87 votes needed to oust President Pedro Castillo amid a judicial investigation into the head of state, according to an opposition legislator pushing for the removal. A group of parties in Peru’s congress are writing a third impeachment motion against Castillo that could lead to his removal from office and his replacement with ...

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• 6 August

  Rwanda is backing rebels fighting Congo: UN report

    Bloomberg Rwanda is equipping and fighting alongside a rebel group in Democratic Republic of Congo, a report by a United Nations group of experts on Congo showed. The panel presented evidence based on eyewitness testimony and drone footage that the Rwanda Defence Force has supported the M23 rebel group since November, according to the report sent to the UN ...

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• 6 August

  Credit Suisse mulls cutting thousands of jobs globally

  

    Bloomberg Credit Suisse Group AG executives are discussing reducing thousands of roles globally as the struggling European lender seeks to slash its overall cost base by an additional $1 billion. The bank, which began trimming front line roles in Asia last month, is mulling an aggressive plan to reduce its headcount, which stood at 51,410 at the end of ...

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• 6 August

  HDFC signs ‘world’s biggest’ social loan

  

  Bloomberg India’s top mortgage lender Housing Development Finance Corp. (HDFC) said it has secured the world’s biggest social loan, a $1.1 billion facility to fund affordable residences, underscoring potential for sustainability-linked financing. The loan package has been priced at a margin of 90 basis points over secured overnight financing rate. MUFG Bank Ltd. was the lead social loan coordinator and ...

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• 6 August

  UK banks set to hike mortgage rates amid falling house prices

  

    Bloomberg UK lenders are expected to hike mortgage prices in quick response to the Bank of England’s decision to raise rates by the most since 1995, the latest headwind for the country’s slowing property market. “I expect we will see a raft of increases from lenders pretty speedily, often with little notice, in the coming days,” said Andrew Montlake, ...

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• 6 August

  DBS denies interest in IDBI Bank

    Bloomberg DBS Group Holdings Ltd, Singapore’s largest lender that has been investing in India, said buying a stake in government-owned IDBI Bank Ltd. is not on its radar, even though it remained bullish about country’s growth prospects. Chief Executive Officer Piyush Gupta said the lender isn’t looking at a deal for the bank. His comments come after Indian media ...

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• 6 August

  Credit Agricole’s investment bank drives earnings beat

  

  Bloomberg Credit Agricole SA’s corporate and investment bank helped the group soar above expectations in the second quarter after traders made double-digit gains during heightened volatility. The Paris-based bank said revenue at its CIB unit rises by more than a quarter to almost 2 billion euros ($2 billion), making it the busiest quarter on record. Underlying revenue from financing activities ...

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