October, 2019

• 5 October

  North Korea officials in China for Kim likely visit

  Bloomberg North Korea sent a group of working-level officials to Dandong, China, to prepare for a possible visit by its leader Kim Jong-un, according to South Korean newspaper Dong-A Ilbo. “It won’t be surprising if Kim visits China soon,” a person familiar with North Korean issues was quoted by the newspaper as saying. An unnamed South Korean official told the ...

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• 5 October

  Hong Kong in near shutdown after ‘dark day’

  

  Bloomberg Hong Kong went into near shutdown as businesses closed and rail services were suspended for the first time in more than 20 years after overnight violence described by Chief Executive Carrie Lam as a “very dark day.” A person was shot and injured during a scuffle between a plain-clothes police officer and demonstrators who had attacked his car. The ...

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• 5 October

  Cameroon president orders to free jailed opposition leader

  

  Bloomberg Cameroon president Paul Biya has ordered the release of opposition leader Maurice Kamto, who was detained in January for organising demonstrations in the central African nation. The president ordered all proceedings pending before the Yaounde Military Tribunal against Kamto discontinued, according to a statement read on state radio by the secretary general. Supporters of the Cameroon Renaissance Movement had ...

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• 5 October

  Gibraltar thrown into disarray before Brexit deal

  

  Bloomberg When Fabian Picardo became chief minister of Gibraltar — the rocky relic of British colonialism at the tip of Spain — he could scarcely have imagined that his main concern one day would be keeping shelves stocked at the local supermarkets. That was before Brexit posed the greatest risk to the tiny territory and its 32,000 inhabitants in decades. ...

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• 5 October

  RBI vows to ease as ‘long as necessary’ after 5th rate cut

  

  Bloomberg India’s central bank Governor Shaktikanta Das pledged further monetary policy easing if needed after reducing interest rates for a fifth time to boost a flailing economy. The Reserve Bank of India (RBI) lowered its benchmark repurchase rate by 25 basis points to 5.15 percent, in line with the forecasts of a majority of economists surveyed by Bloomberg. Echoing Mario ...

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• 5 October

  Yes Bank CEO expects to raise up to $1.2bn

  

  Bloomberg Yes Bank Ltd Chief Executive Officer Ravneet Gill said he expects to complete raising as much as $1.2 billion “much sooner than the market expects,” after sales of pledged shares eliminated an overhang on the lender’s stock. Gill reiterated in an interview his target of selling $1 billion to $1.2 billion of new shares to private equity investors, technology ...

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• 5 October

  Brexit complicates EU money-laundering fight

  

  Bloomberg The UK’s withdrawal from the European Union is complicating the bloc’s fight against money laundering in the financial system, according to EU authorities. Firms relocating from Britain could overwhelm the national bodies that supervise anti-money laundering systems, the three EU financial regulators said in a joint report. A no-deal Brexit would make things even more difficult by disrupting the ...

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• 5 October

  Vista mulls sale of stake in $10bn fintech giant

  Bloomberg Vista Equity Partners is considering the potential sale of a stake in Finastra in a deal that could value the financial technology company at more than $10 billion including debt, people familiar with the matter said. Billionaire Robert F Smith’s buyout firm is working with Goldman Sachs Group Inc to gauge interest from potential buyers, according to the people, ...

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• 5 October

  Colombia isn’t mulling FX intervention: Banker

  Bloomberg Colombia’s central bank isn’t discussing taking measures to ease declines in the peso, even as the currency hit a record-low earlier this week, according to one member of the monetary policy committee. The peso has plunged 7.5 percent in the past three months, making it the worst performing emerging market currency after the Argentine peso, amid slowing global growth, ...

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• 5 October

  Coinbase resumes UK fast payments post Barclays breakdown

  

  Bloomberg US cryptocurrency exchange Coinbase Inc has a new banking partner in Britain that will provide real-time payments for customers, three months after losing the service when it broke with Barclays Plc. The San Francisco-based firm, which lost its Barclays account in July, is now a client of ClearBank, a lender that started operations in 2017, according to a person ...

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