November, 2019

• 23 November

  Singapore economy to recover in 2020

  

  Bloomberg Singapore’s economy expanded at a faster pace in the third quarter than earlier estimated, with the city-state projecting the recovery will take hold next year. The final reading of gross domestic product showed the economy grew an annualised 2.1% in the third quarter from the previous three months, versus a previous projection of 0.6%, the Ministry of Trade & ...

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• 23 November

  Modi makes huge privatisation push to jumpstart economy

  

  Bloomberg India’s prime minister Narendra Modi is putting the flagging economy back on centre stage after announcing the biggest privatisation drive in more than a decade and making renewed attempts to ring fence the crisis-ridden shadow banking sector. The country is in the midst of a deepening slowdown amid waning consumption — the bedrock of the $2.7 trillion economy. And ...

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• 23 November

  Vietnam bans items with disputed map

  

  Bloomberg Vietnam wants its importers to ensure that what they’re bringing into the country won’t contain a disputed South China Sea map that’s been spotted in items from vehicle navigation to solar inverter software. The ministry of industry and trade, in a statement on the website, said companies must review contracts and improve their monitoring of the imported goods. For ...

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• 23 November

  Alibaba listing attracts 200,000 retail buyers

  Bloomberg Alibaba Group Holding Ltd has attracted about 200,000 investors to apply for the retail portion of its Hong Kong share sale, Hong Kong Economic Times reported, citing unidentified sources. It would make Alibaba the most popular listing of the year by the number of subscribers, the paper said, while adding that the number of retail buyers is less than ...

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• 23 November

  Indonesia overhauls energy giant to reduce oil imports

  Bloomberg Indonesian president Joko Widodo ordered an overhaul of the management of state-owned oil giant PT Pertamina, as the former Opec member seeks to reduce crude oil imports to rein in the current-account deficit. Former Jakarta governor Basuki Tjahaja Purnama will become president commissioner of Pertamina, while Emma Sri Martini, chief executive officer of state-owned PT Telekomunikasi Selular, will be ...

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• 23 November

  Two Australians plan to export solar power

  Bloomberg Two of Australia’s richest people, Atlassian Corp co-founder Mike Cannon-Brookes and Fortescue Metals Group Chairman Andrew Forrest, are investing in an ambitious project to export solar power from a giant plant in Australia to Singapore via a 4,500 kilometre transmission cable. The project raised tens of millions of Australian dollars, said developer Sun Cable’s CEO David Griffin.

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• 23 November

  Japan and South Korea rescue intelligence pact after US push

  

  Bloomberg Japan and South Korea struck a last-minute deal to rescue their expiring intelligence-sharing pact, after a push from the Trump administration averted a blow to US efforts to strengthen its Asian alliance network. South Korea will suspend its plans to pull out of the General Security of Military Information Agreement (GSOMIA) and temporarily withdraw a complaint it made against ...

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• 23 November

  Nigeria’s Buhari not to seek third term

  

  Bloomberg Nigerian president Muhammadu Buhari ruled out the possibility of changing the constitution to seek a third term in office, Punch newspaper reported. The head of state, 76, was re-elected in March for a second four year mandate, the last he is permitted under the west African country’s constitution. Speculation is already turning to who the ruling All Progressives Congress ...

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• 23 November

  Hong Kong to hold first vote since protests began

  Bloomberg Millions of Hong Kong residents will vote on Sunday in local elections, marking their first chance to weigh in at the polls after five months of increasingly violent protests calling for greater democracy in the former British colony. Ahead of the District Council election, Hong Kong officials warned the vote could be postponed after some candidates came under attack ...

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• 23 November

  Modi’s BJP makes comeback in Indian state

  

  Bloomberg Indian PM Narendra Modi’s Bharatiya Janata Party (BJP) agreed to a surprise alliance with the rival Nationalist Congress Party (NCP) to form the government in the western state of Maharahstra, home to the country’s financial capital, Mumbai. Modi tweeted his congratulations to BJP’s Devendra Fadnavis, who was sworn in as chief minister of the state. Ajit Pawar of the ...

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