August, 2019

• 13 August

  Singapore cuts its economic growth outlook to near zero

  

  Bloomberg Singapore’s government cut its forecast for economic growth this year to almost zero as the escalating US-China trade war dampens the region’s most trade-reliant economies. Singapore’s economy now is seen growing 0.0%-1.0% this year, down from a previous projection of 1.5%-2.5%, the Ministry of Trade and Industry said on Tuesday, with growth expected to come in near the midpoint ...

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• 13 August

  India’s car sales drop most in two decades as slowdown deepens

  

  Bloomberg Passenger vehicle sales in India dropped the most in nearly two decades, with the decline extending for a ninth straight month amid a broader slowdown in Asia’s third-largest economy. Car sales fell 36% from a year earlier to 122,956 units in July, data released by the Society of Indian Automobile Manufacturers showed. Passenger vehicle sales slumped 31%, while truck ...

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• 13 August

  Saudi Aramco plans to buy 20% stake in Reliance refining unit

  

  Bloomberg Saudi Aramco plans to buy a stake in the refining and chemicals business of India’s Reliance Industries Ltd., moving to diversify from Saudi Arabia. The purchase by Aramco, the largest oil exporter and the most profitable company in the world, precedes a planned public offering that could be held as early as next year. Aramco will buy a 20% ...

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• 13 August

  Putin’s missile is far better than Trump’s missile, says Kremlin

  

  Bloomberg Russia said it’s far ahead of the US in developing new nuclear-powered missiles despite a failed test that prompted President Donald Trump to boast of American superiority in the field. President Vladimir Putin “has repeatedly said that Russian developments in this area surpass the level achieved by other countries, and are quite unique,” Kremlin spokesman Dmitry Peskov told reporters ...

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• 13 August

  Xi faces tough choice over ending HK unrest

  

  Bloomberg China’s signalling it’s prepared to send in security forces to suppress the uprising in Hong Kong. The question now is what President Xi Jinping will do. State-run media have posted videos of the People’s Armed Police assembling across the border in Shenzhen, while Chinese officials describe the protests as a “color revolution” and “terrorism” — a term used to ...

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• 13 August

  Lawmakers’ challenge to ‘Brexit plan’ gets court date

  Bloomberg A Scottish court challenge to Prime Minister Boris Johnson’s proposal to suspend parliament will be heard on September 6 under an accelerated timetable, a judge said on Tuesday. A group of more than 70 British lawmakers want the court in Edinburgh to say it wouldn’t be legal to ask the Queen to suspend parliament. Johnson has refused to rule ...

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• 13 August

  Duterte ‘selling out’ Philippines to China

  

  Bloomberg Philippine Vice President Leni Robredo said citizens were worried Rodrigo Duterte was “selling out” to Beijing and called on the president to take a stronger stand to protect the country’s sovereignty in the disputed South China Sea. Robredo, who is keeping her options open regarding the presidential race in 2022, said in an interview the president had not taken ...

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• 13 August

  Thai govt majority under threat as party pulls out

  

  Bloomberg Thailand’s ruling coalition has moved closer to losing its razor-thin majority after one party pulled its support less than a month after the Cabinet was sworn in. The Thai Civilized Party, with one seat in parliament, is leaving the coalition because it’s unsatisfied with government policies, its leader Mongkolkit Suksintharanon said at a briefing in Bangkok. The party will ...

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• 13 August

  Bannon floats idea of Michelle Obama run against Trump

  

  Bloomberg Democrats eager to oust President Donald Trump in 2020 could pin their hopes on an eleventh-hour bid by former first lady Michelle Obama rather than the roughly two dozen candidates now in the mix, former White House strategist Steve Bannon suggested. “I don’t see anybody that’s on this stage right now that can take President Trump one-on-one,” Bannon, a ...

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• 13 August

  Nissan, BMW in talks to pull South Africa into electric car era

  

  Bloomberg Nissan Motor Co, BMW AG and Volkswagen AG are among carmakers in talks to bring the electric-car revolution to South Africa, as the nation’s auto-factory floors risk being left behind in the global switch to greener vehicles. The industry is preparing a unified stance on electrification to present to the government by the end of the year, Mike Mabasa, ...

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