November, 2020

• 16 November

  This is no time for India to turn away from trade

  

  After almost a decade of “negotiating with blood, sweat and tears,” as Malaysia’s trade minister put it, the Regional Comprehensive Economic Partnership was signed this weekend at the conclusion of an Association of Southeast Asian Nations summit. Fifteen countries — all of ASEAN, alongside Japan, South Korea, Australia, New Zealand and China — will be part of this giant trading ...

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• 16 November

  Is everyone back to buying cars?

  

  Going by sales and stock prices, is everyone buying and making cars in China again? Not quite. A quick review of the numbers: Passenger vehicle sales rose 9.5% in October from a year earlier, and have grown every month since May. Green cars, like hybrids and pure electrics, are standouts: Sales are up more than 50%. Stock prices for companies ...

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• 16 November

  That bond issuer never meant to pay you back

  China’s $4.1 trillion corporate bond market can be tricky to navigate. If 2018 was known as the year private businesses started to fumble, this one will go down for its wave of ugly defaults among state-owned enterprises (SOE). Some are so unseemly that even state banks are cutting their exposure. A default, on its own, is unpleasant but not unacceptable ...

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• 16 November

  Europe is planning its very own e-currency

  The European Central Bank (ECB) appears serious about a digital euro. Barely a month after the central bank issued a major report on the topic, and opened a public consultation, President Christine Lagarde said “her hunch” is that the euro zone could have its own electronic currency within two to four years. Provided the rest of the institution’s governing council ...

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• 16 November

  Korean Air aims for world ranking with Asiana deal

  

  Bloomberg South Korea’s two biggest airlines plan to merge, with Korean Air Lines Co acquiring Asiana Airlines Inc for 1.8 trillion won ($1.6 billion) following an injection via its parent, Hanjin Kal Corp. The main goal of the acquisition is to stabilise South Korea’s aviation industry amid the coronavirus pandemic and improve its competitiveness, said Hanjin Group, which operates airlines ...

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• 16 November

  Reliance Retail acquires Urban Ladder for $24m

  

  Bloomberg Reliance Retail Ventures Ltd acquired a 96% stake in Urban Ladder, an online furniture seller for 1.82 billion rupees ($24.4 million), expanding the company’s reach in the world’s second-most populous nation. The unit of Reliance Industries Ltd plans to invest a further 750 million rupees in the next three years, it said in a statement. It also said it ...

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• 16 November

  Philippine mall titan quickens shift to China-style mixed retail

  

  Bloomberg SM Investments Corp, the owner of the Philippines’ largest mall operator, is speeding up efforts to develop “omni-channel” options for shoppers as people shift to a mix of online and in-store purchases amid the coronavirus pandemic. The group is tapping personal shoppers, ramping up delivery and pick-up services, and boosting its online presence, said Steven Tan, president of SM ...

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• 16 November

  Walmart to sell most of Japan’s Seiyu to Rakuten, KKR

  

  Bloomberg Walmart Inc is selling most of Japanese retailer Seiyu to KKR & Co and Rakuten Inc in a deal that values the supermarket chain at 172.5 billion yen ($1.6 billion), as the US giant retreats from its two-decade attempt to crack Japan’s retail market. Under the agreement, private equity fund KKR will become the majority owner with a 65% ...

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• 16 November

  American Air reduces London flights in Dec

  Bloomberg American Airlines Group Inc said it’s reducing flights from major US airports to London next month due to low demand, damping hopes that the holiday season would facilitate a recovery in travel. The airline will stop London flights from New York, Chicago and Charlotte, North Carolina, in December. Passengers can travel to London via its partner British Airways from ...

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• 16 November

  HK to S’pore flight searches triple in hours

  Bloomberg Online searches for flights from Hong Kong to Singapore surged 300% within three hours of the announcement an air travel bubble would open between the two financial hubs on November 22, according to Trip.com. Searches for Singapore to Hong Kong flights jumped 200%, and volume climbed for hotels in both cities as well, the online travel services provider said. ...

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