October, 2020

• 12 October

  Mumbai returns to normal after worst power failure

  

  Bloomberg Power supply was restored in most parts of India’s financial capital after its worst blackout in decades disrupted transport networks and briefly hit trading volume in bond markets. Mumbai, home to India’s biggest stock exchanges, financial regulators and the central bank, witnessed a power failure at around 10 am local time. Power tripping — or an overload in the ...

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• 12 October

  India court sends notice to banks on Anil Ambani

  

  Bloomberg An Indian court has reached out to a group of Chinese banks that are trying to recover money from Anil Ambani, in the latest twist in a personal bankruptcy case against the former billionaire. The trio of Chinese lenders won a ruling in a London court in May after pursuing Ambani for more than $700 million in a dispute ...

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• 12 October

  Indonesia firm targets new $80 million startup fund

  Bloomberg AC Ventures, an Indonesia-focussed venture capital firm, said it completed the first close of a planned $80 million technology investment fund. The Jakarta-based company raised $56 million at the first close, according to its partners. The fund will invest in about 30 early-stage startups in areas including e-commerce and financial technology in the next three years. AC Ventures was ...

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• 12 October

  China to take part in WHO-backed vaccine program

  

  Bloomberg China will take part in a World Health Organization-backed effort to provide a coronavirus vaccine to developing nations, filling a void in global health leadership after US President Donald Trump spurned the program. Beijing joined the $18 billion Covax initiative that aspires to give lower-income countries the same access to vaccines as wealthier nations. The move came despite China ...

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• 12 October

  Jakarta aims for SE Asia’s vaccine hub

  Bloomberg China supports Jakarta’s efforts to become the centre for vaccine production in Southeast Asia, Indonesia Coordinating Minister for Maritime Affairs and Investments Luhut Pandjaitan said after meeting Chinese Foreign Minister Wang Yi. Indonesia has the strongest capacity for vaccine production in Southeast Asia, Wang said, according to a statement issued by Pandjaitan after the two held a discussion. Wang ...

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• 12 October

  Luxury Thai hotels bet on 5-star quarantine in pandemic opening

  

  Bloomberg A slew of luxury hotels opening in Thailand amid the Covid-19 pandemic are pinning their hopes on a government plan to lure high-spending tourists, betting those seeking five-star quarantine will help cushion the devastation wrought on the travel industry. About half-a-dozen luxury hotels that opened in Bangkok during the pandemic, or will open soon, from Four Seasons, Kempinski and ...

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• 12 October

  Xi trip to Hong Kong shows China’s plan to unify region

  

  Bloomberg President Xi Jinping is set to visit Shenzhen this week to shore up plans to make southern China a global technology hub, prompting Hong Kong leader Carrie Lam to delay an annual economic policy address. Xi is scheduled to deliver an address on Wednesday and meet the leaders of Hong Kong and Macau, the official Xinhua News Agency said ...

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• 12 October

  Protests over Nigeria police brutality block main commercial hub

  

  Bloomberg Protesters blocked a key route into Nigeria’s commercial hub on Monday, a day after President Muhammadu Buhari bowed to their demands to disband a controversial police unit. Hundreds of demonstrators forced motorists trying to drive to Victoria Island in Lagos, the main business district, to turn back at the Lekki Toll Gate in the south of the city. Dozens ...

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• 12 October

  India’s new bridges may worsen standoff along tense China border

  

  Bloomberg India opened dozens of new bridges — many of them providing all-weather access along its disputed border with China — in a move that could provoke a fresh round of tensions. Eight of the bridges are in the Ladakh province, where India and China have each amassed over 50,000 soldiers, tanks, missiles and have put on fighters on stand-by, ...

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• 12 October

  China indicts Australian ‘spy’ held for two years

  Bloomberg China moved to prosecute an Australian writer detained in the mainland for almost two years on spying charges, the latest strain on an increasingly tense relationship between Beijing and Canberra. Beijing prosecutors indicted Yang Hengjun on allegations of espionage, Chinese Foreign Ministry spokesman Zhao Lijian told a regular news briefing on Monday. Yang, a Chinese-born Australian national who’s also ...

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