August, 2021

• 25 August

  JD.com surges after sales beat allays tech crackdown fears

  

  Bloomberg JD.com Inc’s shares soared as much as 10.5% after the e-commerce giant reported revenue that beat estimates, defying a crackdown on the Chinese internet sector that has depressed growth across the industry. The e-commerce giant’s shares gained by the most in almost a month in Hong Kong after it posted a better-than-expected 26% rise in revenue to 253.8 billion ...

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• 25 August

  Jindal Steel plans $2.4bn spend to double output

  

  Bloomberg Jindal Steel & Power Ltd plans to spend $2.4 billion over the next six years to ramp up capacity, joining its peers in announcing massive expansions as a recovery from the pandemic boosts demand. The steelmaker plans to raise total crude steel capacity to 15.9 million tons by March 2025 from 8.6 million tons, the New Delhi-based company said ...

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• 25 August

  Malaysia leads SE Asia GDP downgrades amid Delta grip

  Bloomberg Malaysia leads growth downgrades by economists across Southeast Asia as the delta variant forces countries to reimpose pandemic restrictions. Malaysia’s growth outlook for this year was downgraded the most, a swing of 1.4 percentage points to a 4.3% expansion, according to the latest economist survey results compiled by Bloomberg. Thailand, downgraded to 1.2% from 2.4% in May’s survey, is ...

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• 25 August

  India bookkeeping app raises $100m from Tribe, Moore

  

  Bloomberg Indian fintech startup Khatabook raised $100 million, seeking to expand its offerings beyond bookkeeping for merchants as smartphones win over users in the world’s second-most populous country. The round led by US venture capital firms Moore Strategic Ventures and Tribe Capital valued Khatabook at close to $600 million, the company said in an emailed statement. Alkeon Capital, Tencent Holdings ...

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• 25 August

  India’s Delhivery plans $1b IPO filing

  Bloomberg Delhivery Pvt, an Indian logistics and supply chain startup, plans to file a draft prospectus as soon as October for its initial public offering that could raise about $1 billion, according to people with knowledge of the matter. The company, backed by SoftBank Vision Fund and Carlyle Group Inc, is targeting a Mumbai listing before March next year, said ...

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• 25 August

  China reopens terminal at world’s third-busiest port

  

  Bloomberg The Meishan terminal at China’s second-busiest port reopened following a two-week shutdown that further snarled already stressed shipping routes in Asia. The terminal was expected to start the resumption of normal operations on Wednesday, a port official said at a press conference in the city of Ningbo. The terminal was about a quarter of the Ningbo-Zhoushan port’s capacity and ...

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• 25 August

  Malaysia oppn hails ‘good start’ with new PM

  

  Bloomberg Malaysia Prime Minister Ismail Sabri Yaakob’s meeting with opposition leaders on Wednesday left Anwar Ibrahim positive about working with the new government to heal the nation that’s seen change of three administrations since 2018. The meeting, which lasted over an hour at the premier’s office, was focused on finding common ground to best handle the Covid crisis, save lives ...

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• 25 August

  China warns of retaliation over US report on virus

  Bloomberg China threatened retaliation against those questioning whether the coronavirus leaked from its labs, a warning that comes days before the US releases findings from an intelligence investigation into the pandemic’s origins. “We will continue to cooperate with international organisations like the WHO in their research and in their search for the origins,” said Fu Cong, director-general of the Foreign ...

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• 25 August

  Taliban must deal with Afghanistan’s leaders, warlords to avoid civil war

  

  Bloomberg The Taliban’s military takeover of Afghanistan was swift and decisive. Forming an inclusive government to avoid another civil war is proving to be much harder. The extremist group has been holding meetings in Kabul with Hamid Karzai, the first president after the US invasion, and Abdullah Abdullah, No. 2 in the ousted administration, after leader Ashraf Ghani fled the ...

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• 25 August

  Canada set to ban foreign home buyers if Trudeau is re-elected

  

  Bloomberg Prime Minister Justin Trudeau promised to introduce a two-year ban on foreign home buyers to tackle housing affordability in Canada if he’s re-elected. The proposed restriction is an attempt to cool a housing market that has soared during the Covid-19 pandemic. Surging prices have become a central issue in the campaign for the September 20 vote, in which Trudeau ...

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