August, 2021

• 11 August

  Big Oil finds climate has changed forever!

  It might seem as if the combination of oil selling off just as the latest United Nations climate-change assessment landed represents a sudden realisation about the hidden costs of fossil fuels. But oil never sells off because we’re using too much of it. The latest drop is tied to that other natural disaster, the pandemic, and what Delta might do ...

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• 11 August

  Philippine economy cools as lockdowns linger to halt virus

  

  Bloomberg The Philippine economy fell back into contraction in the second quarter compared to the previous three months, as elevated numbers of Covid cases and extended lockdowns place the nation among Asia’s laggards. Gross domestic product (GDP) shrank a seasonally adjusted 1.3% in April-June from the previous quarter, the country’s statistics agency said, compared to the 1.1% contraction expected by ...

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• 11 August

  Renault signs pact with Geely to fill void in China

  

  Bloomberg Renault SA signed an agreement with Geely Holding, China’s largest privately owned auto group, to help the French carmaker reestablish a presence in the world’s biggest vehicle market. The companies will jointly introduce Renault-branded hybrid vehicles in China, according to a statement. They’ll also explore selling cars based on Geely’s Lynk & Co vehicle platforms in South Korea, where ...

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• 11 August

  Covid response ordered on Indonesia’s outer islands

  Bloomberg Indonesian President Joko Widodo ordered law enforcement and local officials on the nation’s outer islands to take immediate actions, including restrictions on movements and isolation for infected people, to stem an increase in Covid-19 cases. As of last week, new infections in areas outside Java and Bali accounted for 54% of the nationwide total, up from 44% at the ...

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• 11 August

  UpGrad scores $185mn to join India’s edtech unicorns

  

  Bloomberg UpGrad has raised $185 million from Temasek Holdings Pte and other investors over a span of a few months this year, garnering a valuation of $1.2 billion that ranks it as India’s third-largest edtech unicorn. The higher education startup doubled in valuation within 60 days of its first financing round of $120 million from Temasek, later adding another $65 ...

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• 11 August

  India’s NSE to start trading in US stocks

  

  Bloomberg India’s National Stock Exchange of India Ltd said it will start trading in select US stocks through its wholly-owned subsidiary, NSE IFSC. “The offering will be in the form of unsponsored depository receipts,” the National Stock Exchange said in a statement. “NSE IFSC will announce the operational details shortly and will launch the product at the earliest possible time.” ...

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• 11 August

  Singapore PM Lee plans to fine-tune foreign worker policies

  

  Bloomberg Singapore will recalibrate its foreign worker policies to strike a balance between accepting overseas workers and addressing the economic and social concerns of its citizens, Prime Minister Lee Hsien Loong said. The government is aware such anxieties over the foreign worker population have worsened because of uncertainties caused by the Covid-19 pandemic, and authorities are addressing them, Lee said ...

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• 10 August

  Afghan leader sees peace talks as dead, braces for civil war

  

  Bloomberg Afghan President Ashraf Ghani views peace talks with the Taliban as dead, and is looking to both arm civilians and cooperate with warlords to prevent the militant group from overrunning his administration in Kabul. Since the weekend the Taliban has captured the capitals of five northern provinces and one in the west, where they met little resistance from the ...

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• 10 August

  China’s central bank outlook fuels calls for policy easing

  

  Bloomberg China’s central bank fanned expectations of further monetary policy easing, saying in its latest quarterly report that inflation pressures are “controllable,” while highlighting risks to the economic growth outlook. The People’s Bank of China (PBOC) largely reiterated its stance of stable policy, pledging to make it more forward-looking and effective, while maintaining ample liquidity. The surge in producer inflation ...

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• 10 August

  Circle wants to become chartered crypto bank amid US crackdown

  

  Bloomberg Circle Internet Financial, the second-biggest stablecoin issuer, is looking to give US regulators even more oversight of its cryptocurrency business as executives at Tether, its larger rival, are said to be facing a criminal probe by US prosecutors. Circle has set a goal of becoming the first full-service US federally-chartered crypto bank as the skyrocketing value of cryptocurrencies has ...

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