December, 2019

• 24 December

  North Korean workers abroad under scrutiny by US, allies at UN

  

  Bloomberg The US and its allies called on United Nations members to reveal whether they’re complying with UN-imposed sanctions requiring the repatriation of North Korean workers, part of an effort to squeeze Pyongyang of much-needed foreign currency inflows. As part of a series of resolutions passed in 2017, UN member states were required to send back all North Korean laborers ...

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• 24 December

  Japan, South Korea tone down feud at summit yet row remains

  

  Bloomberg In a landmark summit, the leaders of Japan and South Korea signaled they wouldn’t let relations spin out of control even as they made little progress in resolving disputes that have plunged relations to new depths. South Korean President Moon Jae-in told Japanese Prime Minister Shinzo Abe that cooperation was crucial in the face of regional security threats as ...

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• 24 December

  Modi government to start population register scorned by opposition leaders

  

  Bloomberg Prime Minister Narendra Modi’s government said it will start building a comprehensive identity database of all those living in India, amid a growing public uproar over the administration’s move to grant citizenship to undocumented migrants based on religion. The plan to create a National Population Register has been criticized by the opposition as a precursor to countrywide citizens register ...

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• 24 December

  Typhoon hits Philippines, disrupts Christmas travel

  Bloomberg An intensifying storm struck the Philippines on Christmas Eve, disrupting holiday travel plans in Asia’s largest Catholic nation. Typhoon Phanfone, called Ursula locally and upgraded from a tropical storm, hit the central Philippines on Tuesday, stranding thousands of travelers and prompting authorities to advise residents in flood- and landslide-prone areas to leave their homes. Phanfone made landfall in Eastern ...

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• 24 December

  Asia’s richest man added $17 billion to his fortune this year

  

  Bloomberg It’s been a good year for Asia’s richest man, Mukesh Ambani. The Indian tycoon added almost $17 billion to his wealth as of December 23, the most in Asia, taking his net worth to about $61 billion, according to the Bloomberg Billionaires Index. In comparison, Alibaba Group founder Jack Ma’s net worth grew $11.3 billion, while Jeff Bezos lost ...

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• 24 December

  HK residents eye homes overseas amid protests

  

  Bloomberg Residents of Hong Kong are hunting for homes all over the world as tense anti-government protests look set to drag into the new year. Real estate brokers from Australia to Canada have seen a surge in interest over the past few weeks, with the desire to secure a safer future prompting many to look beyond the Asian financial hub. ...

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• 24 December

  Slowdown in India sparks LBOs lending

  Bloomberg India’s slowing economy is sparking a wave of consolidation, creating opportunities for Asian lenders. It’s worked like this: Banks desperate for higher yields have turned to lending for leveraged buyouts in India. The loans have supported private equity funds executing the deals. Foreign-currency syndicated LBO loan volumes involving India have jumped to $891 million across four deals in 2019, ...

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• 24 December

  Japan Post $10bn share sale to face delay after scandals

  

  Bloomberg Japan’s government is considering holding off on its plan to sell about $10 billion worth of shares in Japan Post Holdings Co through this fiscal year following scandals involving its insurance unit, according to people familiar with the situation. Concern over corporate governance and the tumbling stock price have made it difficult to sell the third and final tranche ...

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• 24 December

  China widens economic policy blitz with cash injection move

  

  Bloomberg The Chinese government is trying to set the economy up for a stronger start to 2020, with a multi-pronged policy push ranging from easier monetary settings to freer trade. The latest pledge came when Premier Li Keqiang signalled that further cuts in the amount of cash that banks have to park as reserves will be forthcoming. In theory, that ...

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• 24 December

  Thailand narrows CPI target as price growth is subdued

  

  Bloomberg Thailand will narrow its inflation target from next year as consumer-price growth remains subdued in the Southeast Asian nation. The central bank’s new goal is to keep annual headline inflation within a 1%-3% range, compared with 1%-4% previously, Narumon Pinyosinwat, a government spokeswoman, said on Tuesday in Bangkok following a cabinet meeting that approved the change. Speaking to reporters ...

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