January, 2022

• 6 January

  Malaysia’s Senheng targets doubling market share

  

    Bloomberg Malaysia’s biggest electronics retailer Senheng New Retail Bhd., which is set for a debut this month on the local exchange, is aiming to double its market share by 2025 as it expands its brick-and-mortar and virtual stores. In an interview before the January 25 listing, Chairman Lim Kim Heng said that his target is to capture 30% of ...

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• 6 January

  Cathay slashes cargo capacity, hitting key earnings crutch

  

    Bloomberg Cathay Pacific Airways Ltd. will operate only about 20% of its pre-pandemic cargo capacity this month, a sharp reduction in what has been a rare bright spot during the most challenging period in the carrier’s history. While the Hong Kong-based airline will resume some long-haul cargo services from Friday after a weeklong suspension, the January schedule is way ...

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• 6 January

  Nike says Lululemon’s Mirror infringes digital patents

  

    Bloomberg Nike Inc sued Lululemon Athletica Inc claiming its Mirror Home Gym and mobile app infringes its patents for digital home exercise equipment. The Nike suit is the latest in the thriving home fitness industry, where companies are turning to the courts to protect their own products from competition while expanding into new lines of business. Lululemon, once solely ...

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• 6 January

  UK scraps pre-departure Covid test

    Bloomberg The UK will no longer require vaccinated travellers to take a Covid-19 test before boarding a flight to the country, after airlines hard-hit by the Omicron variant lobbied for the rules to be eased. A lateral-flow test must still be taken within two days of entering England, but the requirement for a more-costly PCR assessment will be eliminated, ...

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• 6 January

  Russia-led bloc sends troops to Kazakhstan amid protests

  

    Bloomberg Russia and its allies sent troops to help quell protests in Kazakhstan that posed the biggest threat to the central Asian country’s leadership since it gained independence in 1991. Dozens of anti-government protesters were killed by security forces and hundreds wounded, authorities said Thursday, after President Kassym-Jomart Tokayev announced an “anti-terrorist operation” to put down the demonstrations. He ...

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• 6 January

  Test shows progress towards hypersonic missile: North Korea

  

    Bloomberg North Korea said it test-fired a “hypersonic” missile for the second time in about four months, as it continues to develop nuclear-capable weapons designed to evade interception by the US and its allies. According to the account provided by North Korea’s official media, the latest test showed marked improvements from its last attempt to fire a hypersonic missile ...

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• 6 January

  Omicron is biggest risk to Korea’s recovery: BOK

  

    Bloomberg Bank of Korea (BOK) Governor Lee Ju-yeol said omicron is the biggest threat to the economy’s recovery, sounding a cautious note ahead of a policy meeting later this month. The threat posed by the virus variant comes on top of other external risks including rising global inflationary pressure, policy normalisation by major economies and a possible economic slowdown ...

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• 6 January

  Bitcoin $100,000 a possibility by taking on gold, says Goldman

  

    Bloomberg Bitcoin will continue to take market share from gold as part of broader adoption of digital assets, making the often touted price prediction of a $100,000 by advocates a possibility, according to Goldman Sachs Group. Goldman estimates that Bitcoin’s float-adjusted market capitalisation is just under $700 billion. That accounts for 20% share of the “store of value” market ...

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• 6 January

  Standard Chartered resuming split teams in HK on virus threat

  

    Bloomberg Standard Chartered Plc will start working in split teams again in Hong Kong as the spread of the omicron variant threatens a fifth wave of infections in the Asian financial hub. In a memo to staff, the bank said it will resume a “hard-split A/B team arrangement” for “critical functions” to ensure business continuity. It urged employees to ...

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• 6 January

  Bank of Japan tapers by stealth first and explains later

  

    Bloomberg The Bank of Japan (BOJ) is taking a stealthier approach than its peers to winding back pandemic stimulus without rattling the markets. As the BOJ, Federal Reserve and others convene meetings this week, the Japanese are, on some fronts, already ahead of the pack after sharply cutting back purchases of exchange traded funds and trimming buying of corporate ...

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