October, 2019

• 22 October

  US ‘concerned’ about Kashmir, urges India to restore normalcy

  

  Bloomberg The US has raised concerns about the ongoing detention of residents and political leaders in India’s Muslim-majority state of Jammu and Kashmir amid months-long restrictions on communication and movement across the region. President Donald Trump’s administration has “closely monitored” the situation in Kashmir after India changed the state’s legal status to create two new union territories — Jammu and ...

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• 22 October

  India considers trade curbs on Turkey, Malaysia over Kashmir

  

  Bloomberg India is considering placing curbs on some imports from Turkey and Malaysia, in response to their leaders’ comments on the autonomy of Kashmir, people familiar with the matter said. Prime Minister Narendra Modi’s government is exploring the possibility of both tariff and non-tariff measures to limit import of goods from the two countries, the people said, asking not to ...

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• 22 October

  Manila grants tax perks to lure back investors

  

  Bloomberg The Philippine capital is granting tax perks as it seeks to restore the historic city to its glory, Mayor Francisco Domagoso said in his speech before businessmen. Companies that build along Escolta Street in the country’s old business district will be exempted from business and real property taxes for 15 years, Domagoso said in a speech at the Management ...

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• 22 October

  Infosys drags Indian stock makets lower

  

  Bloomberg Infosys Ltd dragged India stocks lower after an anonymous whistle-blower complaint alleged the software exporter used irregular practices to shore up profits. The S&P BSE Sensex declined 0.9% to 38,963.84 in Mumbai. The NSE Nifty 50 Index slipped 0.6%. Infosys sank 16%, weighing the most on both gauges and offsetting post-earning gains in HDFC Bank Ltd and Reliance Industries ...

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• 22 October

  HK unveils measures to boost economy

  

  Bloomberg Hong Kong Financial Secretary Paul Chan unveiled a range of relief measures worth about HK$2 billion ($255 million) targeting tourism and the transportation industry in a renewed effort to help businesses grappling with the economic fallout of ongoing political turmoil. Widening the scope of a 50% rent reduction announced in an earlier package to include some car parks, restaurants ...

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• 22 October

  China is struggling to offload its overseas businesses

  

  Bloomberg China Inc is struggling to offload overseas businesses and the accompanying debt in an increasingly volatile market. In just a few weeks, companies from yacht makers to luxury clothing and pizza outlets — acquired by Chinese firms in recent years — have either scrapped planned initial public offerings or sought alternatives to reduce their debt piles. Ferretti SpA, the ...

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• 22 October

  India set to frame rules to regulate social media

  Bloomberg India plans to introduce rules to regulate social media because it can cause “unimaginable disruption” to democracy, PM Narendra Modi’s government said in a legal document filed in the nation’s Supreme Court. The government needs three months to formulate the rules to regulate social media platforms offered by companies such as Twitter and Facebook to curb circulation of fake ...

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• 22 October

  World’s priciest oil auction may raise $50b in Brazil

  

  Bloomberg An auction next month of oilfields in Brazil may be the priciest ever held, raising at least $50 billion in licensing fees and compensation, according to people familiar with government estimates. Exxon Mobil Corp., Royal Dutch Shell Plc and other energy giants are set to vie for deep-sea deposits that could hold 15 billion barrels of oil, almost twice ...

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• 22 October

  Coal-fired power plant construction stalls in SE Asia

  

  Bloomberg Construction of coal-fired power plants in Southeast Asia has slowed significantly since 2016, with only Indonesia starting any new stations in the first half of this year, according to a report by Global Energy Monitor. The region, which has been targeted as a growth center in coming years for coal-fired power, saw 1,500 megawatts of capacity enter construction in ...

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• 22 October

  Brexit may tie Northern Ireland to EU forever, says Irish judge

  

  Bloomberg UK Prime Minister Boris Johnson’s Brexit deal could permanently bind Northern Ireland to European Union law, according to an Irish judge at the bloc’s second-highest court, who suggested the accord may eventually bring the people of the island of Ireland together. Johnson’s agreement — still awaiting a sign-off from the UK parliament — would have “very long-term consequences for ...

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