August, 2019

• 19 August

  Philippines dangles tax perks to drive businesses out of Manila

  

  Bloomberg Businesses located in some of Manila’s offices, hotels and casinos could lose their investment incentives over the next five years as the Philippines looks to overhaul its corporate taxation. Under a new bill, the government wants to phase out its current set of tax perks, among Southeast Asia’s most generous, and businesses will have to reapply for incentives that ...

  Read More »
• 19 August

  Axiata draws interest for its tower unit

  Bloomberg Buyers are circling Axiata Group Bhd.’s wireless tower business, even as the Southeast Asia telecom giant presses ahead with plans for a broader merger with Telenor ASA’s Asian operations, people with knowledge of the matter said. Axiata has received preliminary expressions of interest in recent months about a potential takeover of its Edotco Group Sdn. unit, according to the ...

  Read More »
• 19 August

  Malaysia expects UK trade deal with palm producers post Brexit

  Bloomberg The UK will have the opportunity to make a trade deal with Southeast Asian nations, including the world’s top palm oil producers, once it leaves the European Union, and to steer clear of getting entangled in any potential trade war, according to Malaysian Prime Minister Mahathir Mohamad. “The key is to rethink the European Union’s misguided policy on palm ...

  Read More »
• 19 August

  Thailand economy grows at slowest pace in five years

  

  Bloomberg Thailand’s economy grew at the slowest pace in almost five years in the second quarter as exports and tourism were buffeted by US-China trade tensions and a strong local currency. Gross domestic product (GDP) rose 2.3% from a year ago, down from 2.8% in the first quarter, the National Economic and Social Development Council said on Monday. That’s the ...

  Read More »
• 19 August

  SoftBank plans to lend employees $20b for fund

  

  Bloomberg SoftBank Group Corp. is planning to lend as much as $20 billion to its employees to buy stakes in its second venture capital fund following the success of an earlier $100 billion fund to invest in tech start-ups, the Wall Street Journal reported. The second Vision Fund aims to raise $108 billion, SoftBank said earlier. In addition to its ...

  Read More »
• 19 August

  Jobless rate in HK rises for first time since 2017

  Bloomberg Hong Kong’s jobless rate rose for the first time since 2017 in July, led by weakness in the retail and restaurant industries as the government warned of further pressure on the city’s slumping economy in the months ahead. The seasonally adjusted unemployment rate rose to 2.9%, including a “relatively notable increase” in the food and beverage service sector, the ...

  Read More »
• 19 August

  Japan exports fall again in July

  

  Bloomberg Japanese exports fell for an eighth straight month in July, weighed down by shipments of auto parts and semiconductors, as slowing economic growth and trade battles raise fears of a global recession. The value of shipments abroad dropped 1.6% in July from a year earlier, according to the finance ministry. Economists surveyed by Bloomberg had estimated a 2.3% drop. ...

  Read More »
• 19 August

  Germany says it could spend extra $55 billion if crisis hits

  

  Bloomberg Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Finance Minister Olaf Scholz suggested Germany could muster 50 billion euros ($55 billion) of extra spending in an economic crisis, putting a number on a possible fiscal stimulus for the first time. While Scholz signaled that action by Germany isn’t imminent, ...

  Read More »
• 19 August

  ‘Apple CEO worried about losing edge to Samsung with tariffs’

  

  Bloomberg President Donald Trump said Apple Inc. Chief Executive Officer Tim Cook voiced concerns about chief competitor Samsung Electronics getting an edge because its products, unlike Apple’s, won’t be subject to tariffs when imported by the US. Cook and Trump had dinner, while the president was at his golf club in Bedminster, New Jersey. Trump described the conversation to reporters ...

  Read More »
• 19 August

  ‘Fighting climate change will help economic growth’

  

  Bloomberg Slowing the pace of climate change in line with the Paris Agreement has clear economic benefits as global warming is increasingly seen as a risk to financial stability and the economy. Abiding by the Paris Agreement and limiting annual average temperature increases to 0.01 degree celsius reduces global income by 1.07% by 2100. That compares with a 7.22% hit ...

  Read More »