March, 2021

• 28 March

  At least 14 injured in suspected bomb attack on Indonesia church

  

  Bloomberg An explosion hit a Catholic church in central Indonesia during Palm Sunday celebrations, leaving at least 14 injured. The suspected suicide bombing occurred outside the Sacred Heart of Jesus Cathedral in Makassar city, Sulawesi island at about 10:30 am on Sunday just as mass had finished, national police spokesperson Argo Yuwono said in a briefing. Most of the victims ...

  Read More »
• 28 March

  EU risks alienating Denmark as wage dispute provokes disbelief

  

  Bloomberg Denmark’s relationship with the European Union (EU) has historically mirrored that of the UK. Both countries applied for membership the same year (1961) and ultimately joined the same year (1973). Now, the government in Copenhagen says the EU’s intention to weigh in on a minimum-wage framework across the bloc might be more than Denmark is willing to swallow. In ...

  Read More »
• 28 March

  Total evacuates its workers from Mozambique project after attack

  

  Bloomberg French oil giant Total SE is evacuating most of the remaining employees from its liquefied natural gas project in northern Mozambique as insurgents attacked a town nearby, throwing Africa’s biggest private investment into disarray. The fresh violence that follows attacks at the turn of the year suggests Mozambique’s armed forces are struggling to regain control of the region surrounding ...

  Read More »
• 28 March

  Australian broadcaster Nine says cyber-attack affected its live show

  

  Bloomberg Australia’s largest locally-owned media business, Nine Entertainment Co., said it suffered a cyber-attack that disrupted its live television programming on Sunday. The attack prevented Nine from being able to broadcast its Weekend Today show on Sunday morning in Australia, the company said. Nine requested assistance from country’s cyber-intelligence agency, Australian Signals Directorate, after disruption, Sydney Morning Herald reported. “Our ...

  Read More »
• 28 March

  African banks may lose $48b to virus rebound risks in 3 years

  

  Bloomberg African banks need to improve operating efficiencies and mitigate other risks quickly to avoid a revenue slump of as much as $48 billion over the next three years. If risks go unchecked, multiple years of low profitability will likely follow, according to a report by McKinsey. “Lessons from the 2008 economic crisis suggest that, in times of crisis, speed ...

  Read More »
• 28 March

  JPMorgan unveils plan to recruit 300 Black, Latino wealth advisers

  

  Bloomberg JPMorgan Chase & Co. said it plans to hire 300 additional Black and Latinx wealth advisers by 2025 to serve more clients from those communities and allow employees from diverse backgrounds to advance in their careers. “We want to drive a step change in the representation of financial advisers” at JPMorgan, Kristin Lemkau, chief executive officer of the bank’s ...

  Read More »
• 28 March

  China’s central bank estimates potential growth of under 6%

  

  Bloomberg China’s central bank estimated the maximum the economy can expand without fueling inflation, known as the potential growth rate, is under 6% in the next five years. In a working paper, the statistics department of the People’s Bank of China (PBOC) said potential growth was projected at 5%-5.7% in the period covering the government’s latest five-year plan through 2025. ...

  Read More »
• 28 March

  Colombia central bank holds key rate at 1.75%

  Bloomberg Colombia’s central bank voted unanimously to reject arguments for more stimulus, ending the split between board members seen at the previous two monetary policy meetings. The bank held its key interest rate at a record low of 1.75% for a sixth straight month, in line with expectations. At the December and January meetings, a minority of two policy makers ...

  Read More »
• 28 March

  Bank of Korea governor sees no rate hike rush

  

  Bloomberg Bank of Korea (BOK) governor Lee Ju-yeol said he expects faster inflation and economic growth this year, but dismissed the view that the central bank needs to tighten policy early to tackle rising financial risks. In comments, Lee pointed to improving exports and investment, along with an extra budget pending parliamentary approval, as factors likely to drive economic growth ...

  Read More »
• 28 March

  BOE’s divisions resurface on UK economic outlook

  

  Bloomberg With confidence growing that a recovery is just around the corner in the UK, divisions are hardening at the Bank of England (BOE) over how the economy will unfold. Those splits were on display in a series of appearances by members of the Monetary Policy Committee. They pit BOE Chief Economist Andy Haldane, who believes Britain is set for ...

  Read More »