November, 2020

• 9 November

  Philippines seeks 50 million vaccine shots

  Bloomberg The Philippines aims to have at least 50 million coronavirus vaccine shots next year to inoculate about a fourth of the population, bulk of which will likely arrive by the end of 2021 or early 2022. A vaccine could be available to the Southeast Asian nation between May through July, said Carlito Galvez, vaccine czar and chief implementer of ...

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• 9 November

  China car sales go from strength to strength as virus eases

  

  Bloomberg Car sales continued to recover in China last month as the coronavirus pandemic eased in the country and electric vehicles won more users. Retail sales of cars, SUVs and multiple-purpose vehicles increased 8% from a year earlier to 2.02 million units in October, the China Passenger Car Association (CPCA) said on Monday. Wholesales of new energy vehicles, which includes ...

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• 9 November

  Ethiopian PM expects swift end to conflict in Tigray

  

  Bloomberg Ethiopia’s prime minister said he expects conflict in the north of the country to end quickly, dismissing concerns that the fighting may escalate into a full-blown civil war. Federal soldiers continued to clash on Monday with fighters loyal to the Tigray region’s ruling party, six days after Prime Minister Abiy Ahmed ordered forces to respond to an alleged attack ...

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• 9 November

  Biden’s Covid task force to play key role in pandemic effort

  

  Bloomberg President-elect Joe Biden announced a new coronavirus task force as his transition team seeks to fulfill a campaign promise to develop a dramatically different approach than President Donald Trump’s to contain the pandemic. The 13-member task force is composed largely of doctors and public health experts, who will work with Biden, Vice President-elect Kamala Harris and the transition team ...

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• 9 November

  Suu Kyi’s party leads as Myanmar counts votes

  

  Bloomberg Myanmar’s ruling party led by Aung San Suu Kyi said it had won enough parliamentary seats to retain power in the country’s second election since the end of military rule almost a decade ago. Suu Kyi’s National League for Democracy (NLD) is on course to win about 390 seats to the national assembly, according to Myo Nyunt, a member ...

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• 9 November

  Hungary imposes coronavirus curbs

  

  Bloomberg Hungarian PM Viktor Orban announced sweeping measures to stem the spread of the coronavirus, in a policy reversal triggered by new cases threatening to overwhelm hospitals. The government will ban public gatherings, expand a curfew to between 8 pm and 5 am, shut restaurants except for take-away and switch secondary schools and universities to distance learning, Orban said on ...

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• 9 November

  Orr readying new RBNZ stimulus tool as step towards negative rates

  

  Bloomberg New Zealand central bank (RBNZ) governor Adrian Orr is set to unveil a new monetary stimulus tool aimed at driving borrowing costs to fresh historic lows to spur economic growth. Orr is expected to lay out plans on November 11 to provide cheap loans to banks, giving them scope to further reduce lending rates. The Funding for Lending Program, ...

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• 9 November

  BOE governor Cunliffe says resuming bank dividends still unclear

  

  Bloomberg Bank of England (BOE) Deputy Governor Jon Cunliffe said there is no clarity yet on allowing banks to pay dividends as there may “still be a case” for restrictions until their robustness is assessed, according to The Sunday Times. Policy makers need to study the economic outlook, bank capital and the impact of profitability and losses on the lenders ...

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• 9 November

  Goldman Sachs chops Treasury yield target

  

  Bloomberg Goldman Sachs Group Inc. cut its year-end Treasury yield forecast as the prospect of a divided Congress under a Democratic president makes another big fiscal stimulus package unlikely. The 10-year yield should fall to around 0.75% by the end of 2020, according to strategists including Praveen Korapaty. That’s well below the 1.05% target that the team had anticipated before ...

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• 9 November

  Deutsche Bank didn’t heed ECB request to pause leveraged finance

  

  Bloomberg Deutsche Bank AG didn’t heed a recommendation from the European Central Bank (ECB) to suspend parts of its leveraged finance operations after the regulator identified shortcomings in how it manages risk in that business, a person familiar with the matter said. Deutsche Bank took remedial action within the given time frame but didn’t follow the ECB’s request to halt ...

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