November, 2020

• 21 November

  Thailand moves to cool baht rally

  

  Bloomberg Thailand relaxed rules on capital outflows and will increase scrutiny of fund flows into bonds to help cool a currency rally that threatens its economic recovery from the pandemic. The Bank of Thailand (BOT) moved forward measures that were supposed to begin early next year, most of which will now take effect from end-November. The rules will make it ...

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• 21 November

  Nomura plans flexible work ‘permanently’

  

  Bloomberg Nomura Holdings Inc plans to introduce flexible work on a permanent basis for its overseas staff, the latest global financial firm to consider such a move as the pandemic reshapes office life. While the planning is at an early stage, Nomura sees both an “appetite and ability to support an operating model in which 50% of our corporate workforce ...

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• 21 November

  Bank Indonesia slashes its policy rate to record low

  

  Bloomberg Indonesia’s central bank cut its policy rate for the first time in four months, urging banks to lend more to help drive an economic recovery. Bank Indonesia cut its seven-day reverse repurchase rate by 25 basis points to 3.75%, the lowest since the benchmark was introduced in 2016, as predicted by 11 of 26 economists surveyed by Bloomberg. “I ...

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• 21 November

  PBOC set to look through credit pain as it tapers stimulus

  

  Bloomberg China’s central bank remains on course to taper its emergency support even as a string of defaults by government-linked companies sends tremors through the credit markets. Officials have been preparing investors about the possibility of withdrawing some of that stimulus as the economic recovery picks up pace. While a surge in market interest rates following the defaults appears to ...

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• 21 November

  Absa South Africa rules out dividends

  Bloomberg Absa Group Ltd said it’s unlikely to pay an ordinary dividend this year as the South African bank conserves cash to deal with the economic fallout from the coronavirus pandemic. Earnings before one-time items and accounting adjustments will probably decline more than 40% from a year earlier, Johannesburg-based Absa said. It’s withholding payouts despite having strong buffers and forecasting ...

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• 21 November

  Apple defends delay of privacy feature

  

  Bloomberg Apple slammed Facebook and other internet giants for their ad-targeting practices in response to a letter questioning a decision by the iPhone maker to delay a new privacy feature. The Cupertino, California-based technology company criticised Facebook’s approach to advertising and user tracking, according to a written reply sent to several human rights and privacy organisations, including the Electronic Frontier ...

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• 21 November

  Ford hopes to revive its Lincoln Nautilus SUV with new design

  

  Bloomberg Ford Motor Co’s Lincoln luxury line hopes some interior redecorating will revive its slowest selling sport-utility vehicle (SUV): the mid-sized Nautilus. Lincoln has built its comeback on brash behemoths like the Navigator SUV. But sales of the Nautilus, with two rows of seats, have fallen 31.2% this year even as the brand’s total SUV deliveries rose. So Ford overhauled ...

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• 21 November

  GM deepens EV bet with 35% budget boost, 30 new models

  

  Bloomberg General Motors (GM) is laying the groundwork for a bigger bet on electric vehicles, telling investors at a virtual conference it plans to boost spending on them by more than a third to $27 billion as part of a push to introduce 30 battery-powered models by 2025. The initiative represents an increased investment of $7 billion and 10 more ...

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• 21 November

  Nikon to cut staff on slump in core business

  Bloomberg Nikon Corp plans to reduce about 2,000 employees, or 10% of its total workforce, due to a slump in its core camera business, Nikkei reported. Its business was also impacted by the performance of Intel Corp, one of Nikon’s key clients of semiconductor equipment, the daily reported, without saying where it got the information. In the company’s reform agenda, ...

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• 19 November

  UAE condemns cowardly terrorist attack on ERC personnel in Taiz

  

  ABU DHABI / WAM The UAE has strongly condemned the cowardly terrorist shooting attack targeting Emirates Red Crescent (ERC) medical staff working in mobile healthcare clinics in the Yemeni city of Taiz. The Ministry of Foreign Affairs and International Cooperation (MoFAIC) said in a statement that the targeting of humanitarian workers is a flagrant violation of international norms and conventions, ...

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