October, 2021

• 5 October

  Bezos invests in Indonesian e-commerce startup Ula

  Bloomberg Amazon founder Jeff Bezos participated in a $87 million Series B funding for Indonesian startup Ula, marking his first-ever investment in Southeast Asia’s e-commerce space. Bezos Expeditions, Northstar group, AC Ventures and Citius joined the round co-led by Prosus Ventures, Tencent and B-Capital, the e-commerce marketplace Ula said. The previous fundraising included $10.5 million seed round in June 2020 ...

  Read More »
• 5 October

  Tesco set to unveil share buyback plan

  Bloomberg Tesco will announce a share buyback program this week when it reports first-half results, the Sunday Times reported. The retailer will maintain its normal dividend along with the buyback plan, although a special payout is not thought to be on the cards, according to the report. Tesco will be disciplined in its approach to buybacks, the report cited unidentified ...

  Read More »
• 5 October

  Kim Jong Un boosts S Korea’s Moon in bid for concessions

  

  Bloomberg North Korea has labelled Moon Jae-in a meddlesome mediator and reduced to rubble a $15 million liaison office that was one of the South Korean president’s biggest diplomatic achievements. On Monday, however, Kim Jong Un’s regime abruptly restored communication with South Korea via hotlines that Pyongyang had let fall silent for about two months. The move came after Kim’s ...

  Read More »
• 5 October

  Indian farm protests gather momentum after 4 demonstrators killed

  

  Bloomberg India’s yearlong farmers’ protests against federal agricultural laws have reached a new flash-point after eight people, including four protesters, were killed in the poll bound northern state of Uttar Pradesh. Farm groups have alleged the deaths occurred after a convoy of cars connected to a junior federal minister ran over angry demonstrators, fired shots and attacked a protest leader ...

  Read More »
• 5 October

  US trade chief to engage with China on trade-deal shortfalls

  

  Bloomberg The Biden administration will directly engage with Beijing in the coming days to enforce commitments in their trade deal and start a new process to exclude certain products from US tariffs in an effort to help American workers and businesses, senior administration officials said. US Trade Representative Katherine Tai is set to speak to Chinese Vice Premier Liu He ...

  Read More »
• 5 October

  Kishida elected as Japan’s PM

  

  Bloomberg Japan’s Fumio Kishida was appointed prime minister by parliament on Monday, and is set to reveal a new cabinet lineup as he seeks to revive support for his ruling party ahead of a general election that could likely come this month. The ruling Liberal Democratic Party (LDP) used its majority to formally elect Kishida, who will be the second ...

  Read More »
• 5 October

  UK set to scrap $107 billion lifeline for poorest families

  

  Bloomberg The UK government is ending two of its pandemic-era safety net programs that pumped almost 80 billion pounds ($107 billion) into the economy, a move that campaigners say will leave more working families in poverty and widen the gap between the rich and the poor. Over the next week, furlough support for wages that helped 8.9 million workers at ...

  Read More »
• 5 October

  Economy rebounds in Canada amid wider business reopenings

  

  Bloomberg Canada’s economy returned to growth as consumers headed back to restaurants and entertainment venues, propelling spending on services. Gross domestic product rises 0.7% in August, Statistics Canada said in a flash estimate from Ottawa. That’s a reversal from July, which showed a 0.1% contraction, according to the report. Economists were predicting a 0.2% drop in output for July, after ...

  Read More »
• 5 October

  Inflation in euro area surges to 13-year high with more to come

  

  Bloomberg Inflation in the euro area accelerated more than expected to the highest level in 13 years, adding fuel to a debate over how long the post-crisis spike will last. Consumer prices rise 3.4% in September, compared with an estimate for a 3.3% gain, according to figures released by Eurostat. A measure stripping out volatile components such as food and ...

  Read More »
• 5 October

  Hungary plans to boost pensions

  

  Bloomberg Hungary’s government is planning to pay out a pension bonus to offset the effects of high inflation for the elderly, Prime Minister Viktor Orban said during a weekly interview on state broadcaster Kossuth radio. “Inflation is higher than we would have presumed in our right mind at the beginning of the year,” Orban said. “We must correct pensions against ...

  Read More »