June, 2020

• 7 June

  China’s copper imports dip

  Bloomberg China, the world’s largest copper consumer, imported less metal and concentrate last month as pandemic-driven lockdowns in overseas mining regions disrupted supplies. Copper concentrate imports were 1.69 million tons in May, down from 2.03 million tons in April and 1.84 million tons a year ago, according to customs data. Unwrought copper and products purchases were 436,031 tons, falling from ...

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• 7 June

  Silver Lake invests fresh $602m in Reliance’s Jio

  

  Bloomberg A group led by Silver Lake Partners agreed to invest another 45.5 billion rupees ($602 million) in Indian conglomerate Reliance Industries Ltd’s digital arm, in the latest vote of confidence in billionaire Mukesh Ambani’s online push. The US private equity firm and its co-investors will hold a 2.1% stake in Reliance’s Jio Platforms unit, according to a Mumbai exchange ...

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• 7 June

  China trade surplus surges to record as exports slump

  

  Bloomberg China’s trade surplus surged to a record in May as exports fell less than expected, helped by an increase in medical-related sales, and imports slumped along with commodity prices. Exports decreased 3.3% in dollar terms from a year earlier, beating economists’ estimates, while imports plunged 16.7%. That resulted in a trade surplus of $62.93 billion. The record surplus comes ...

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• 7 June

  China’s May soybean imports surge 27%

  Bloomberg Soybean imports by China rose 27% in May from a year earlier, after crushers increased purchases from Brazil to take advantage of cheap supplies amid strong crush margins. The country shipped in 9.4 million tons in May, compared with 7.4 million tons in the same month last year, and 6.7 million tons in April, according to customs data. Chinese ...

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• 7 June

  India firm starts trials for drug for Covid-19

  

  Bloomberg Sun Pharmaceutical Industries Ltd has launched clinical trials of a plant-derived drug it’s developing to treat Covid-19, joining the race to find an effective treatment for the disease that’s killed almost 400,000 people worldwide. India’s largest drugmaker will commence Phase II trials on 210 patients across 12 centers in India and the results are expected by October, according to ...

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• 7 June

  Trump’s troop plan stuns Berlin, rocks postwar order

  

  Bloomberg President Donald Trump’s directive to pull 9,500 troops from Germany hits home hard for friends of America like Edgar Knobloch, whose Bavarian town has been home to US service members for seven decades. Like Chancellor Angela Merkel, the mayor of Grafenwoehr was caught off guard. It’s the latest sign of the US’s deterioration of ties with a loyal ally, ...

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• 7 June

  India, China agree to fix border standoff

  

  Bloomberg India and China agreed to resolve a current border standoff peacefully in line with various bilateral agreements and will keep each other engaged as talks remains deadlocked. “The two sides will continue military and diplomatic engagements to resolve the situation and to ensure peace and tranquility in the border areas,” India’s ministry of external affairs said. A meeting was ...

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• 7 June

  China denies cover-up, rejects ‘politicisation’ of coronavirus

  

  Bloomberg China lambasted suggestions that it hid information about the coronavirus outbreak, saying in a newly published white paper that it has acted transparently and informed the world of developments in a timely manner. “Some foreign politicians and media have presumed guilt for the origin of the virus, put labels on the virus and politicised the epidemic,” Xu Lin, head ...

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• 7 June

  Johnson looks beyond virus as ratings dip

  

  Bloomberg Boris Johnson will set out his plans for rebuilding the UK economy after the coronavirus as he seeks to stem the hemorrhaging of support for his government’s response to the crisis. The prime minister will use a speech later this month to commit to speeding up spending on roads, hospitals and research, his office said after three opinion polls ...

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• 7 June

  Malaysia to relax curbs on people’s movement

  

  Bloomberg Malaysia will relax restrictions on the movement of peoplke within the country from June 10 and allow almost all activities including domestic tourism to resume, PM Muhyiddin Yassin said. The nation’s borders will remain closed and overseas travel is still restricted, he said. Theme parks etc won’t be allowed to reopen yet. The new rules will be in place ...

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