October, 2020

• 6 October

  European stocks retreat after rally; Treasuries gain

  

  Bloomberg European stocks pulled back from a two-week high and US futures retreated after a rally when on Monday President Donald Trump left the hospital. Tech stocks led losses in the Europe Stoxx 600 Index. Hardware maker Logitech International SA slumped as Apple Inc. plans to launch its own audio products and stop selling rival headphones. Treasuries rise and the …

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• 6 October

  Indian rupee gets lift from stock flows, account surplus

  

  Bloomberg India’s strongest surplus in more than a decade is supporting a currency battered by the worst pandemic outbreak in Asia. The currency has advanced more than 2% in the third quarter, outperforming the Indonesian rupiah, its high-yielding counterpart that has sunk around 4%. The gains come even with an economy ravaged by 6.7 million infections. The support comes from …

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• 6 October

  Taiwan dollar gains after strongest close since 2011

  Bloomberg The Taiwan dollar extended its winning streak on Tuesday, a day after it closed at the strongest level since 2011 amid speculation the local central bank will continue to loosen its grip on the rallying currency. The advance builds on September’s 1.4% gain, one of the largest for major currencies versus the US dollar. While for months Taiwan’s central …

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• 5 October

  Businesses return to growth in top three Arab economies

  

  Bloomberg Business activity in the Arab world’s three largest economies returned to growth, with Egypt seeing its first expansion in 14 months. After a deterioration in August, the non-oil private sectors improved last month as companies adjusted to economic challenges of the global pandemic while governments eased restrictions put in place to stop the coronavirus. A measure of non-oil private …

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• 5 October

  Modi’s key economic reforms stall as virus upends India’s economy

  

  Bloomberg India’s delay in appointing a new central bank committee to decide interest rates is just the latest of Prime Minister Narendra Modi’s key economic reforms that are failing to gain traction during the nation’s worst crisis in decades. Three of his major policies — the goods and services tax, a bankruptcy and insolvency law and the Monetary Policy Committee …

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• 5 October

  Green electricity provider to create 1,000 new jobs in UK

  

  Bloomberg A UK clean energy company is seeking to create 1,000 jobs by the end of next year, expanding its technology to simplify the way consumers buy electricity. Octopus Energy said it wants to make the UK the “Silicon Valley of energy” and detailed a plan to expand its cloud-computing platform, known as Kraken, which aims to make it easier …

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• 5 October

  AirAsia’s problems increase as India hints at ‘shutdown’

  

  Bloomberg AirAsia Group Bhd is closing its affiliate operations in India, the local aviation minister said over the weekend, a comment his office later suggested was taken out of context. “AirAsia’s shop is anyway shutting down,” Hardeep Singh Puri said in televised comments that were widely circulated on social media. “Their parent company has problems.” A spokesman for AirAsia India, …

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• 5 October

  No-frills Indian carrier SpiceJet to start flights to London

  

  Bloomberg SpiceJet Ltd, India’s second-biggest airline, will start regular flights to London from Delhi and Mumbai, a move it has long been pursuing. The no-frills airline will fly Airbus SE A330-900 neo aircraft on the routes, Chairman Ajay Singh said in an online briefing with reporters on Monday. The flights will start from December 4 and there will be two …

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• 5 October

  Virgin Atlantic Air trials Covid testing for crews

  

  Bloomberg Virgin Atlantic Airways Ltd will carry out rapid pre-flight coronavirus testing for cabin crew and pilots from its base at London’s Heathrow airport, the company said on Monday. The carrier said it launched a trial on flights to Shanghai and Hong Kong on September 30 and is planning a wider roll-out that will involve testing every operating crew at …

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• 5 October

  GIC, TPG to invest $1b in Ambani’s retail unit

  Bloomberg Singapore’s GIC Pte and private-equity firm TPG will invest a combined $1 billion in Indian billionaire Mukesh Ambani’s retail unit, taking total inflows into the business to about $4.4 billion. GIC will spend 55.1 billion rupees ($753 million) for a 1.22% stake in Reliance Retail Ventures Ltd, while US-based TPG will take 0.41% for 18.4 billion rupees, the Indian …

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