July, 2019

• 7 July

  New Delhi considers creating own Davos

  Bloomberg India is contemplating organising an annual global investors’ meet in the country, akin to the World Economic Forum in the alpine resort of Davos, to carve out a bigger global role for itself. The move will help create a niche for Asia’s third-biggest economy within the international financial system, Finance Minister Nirmala Sitharaman said in her budget speech. China ...

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• 7 July

  Telenor unit calls Bangladesh moves to restrict access ‘illegal’

  

  Bloomberg Grameenphone, the Bangladesh division of Norway’s Telenor Group, said the local telecom regulator’s move to restrict internet bandwidth for its services was “illegal”, as the company continues to pursue arbitration over an audit demand of nearly $1.5 billion. Bangladesh’s largest mobile company said at a press conference the regulator’s move to restrict internet access was “specially designed to put ...

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• 7 July

  India raises taxes on gold for first time in six years

  

  Bloomberg India, the world’s biggest consumer of gold after China, increased the import tax on the precious metal for the first time since 2013, spurring domestic prices to a record. Shares of jewellers slumped. The import tax on gold and other precious metals will be raised to 12.5 percent from 10 percent, Finance minister Nirmala Sitharaman said while presenting the ...

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• 7 July

  In Phuket, India rides to rescue as China visits ebb

  

  Bloomberg Thailand’s struggling tourism industry is finding support with visitors from the population colossus to its west, just as the years of bumper arrivals from the giant to its north are beginning to wane. At a beachfront hotel on the tropical island of Phuket, the occupancy rate from Chinese clientele has stalled, while bookings from India have begun to rise. ...

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• 7 July

  Berlin faces pressure to spend amid growing ‘economic risks’

  

  Bloomberg Trade tensions and uncertainty surrounding Brexit are raising economic risks for the euro area, prompting France to urge Germany to loosen its purse strings to support growth. “It would be irresponsible not to examine the need for new investments in the euro zone,” French Finance Minister Bruno Le Maire said at an annual economic conference in Aix-en-Provence, in southern ...

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• 7 July

  ‘Orange CEO must quit if convicted in trial’

  

  Bloomberg Orange SA Chief Executive Officer Stephane Richard will have to resign if he’s convicted next week on decade-old allegations of fraud, a top finance ministry official said. A Paris court will decide on July 9 whether Richard helped businessman Bernard Tapie cheat the government out of about 403 million euros ($455 million) in 2008, when he was chief of ...

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• 7 July

  Heatwave shows Germany needs more action on climate: Merkel

  

  Bloomberg The blistering heatwave that struck Germany and other parts of Europe last month shows the country needs to take further action to protect the environment, Chancellor Angela Merkel said in her weekly podcast. “Extreme weather events are becoming more common,” Merkel said. “Together we must react to the situation.” The increased use of renewable energy, along with efforts to ...

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• 7 July

  Starbucks apologises to Arizona police chief

  Bloomberg Starbucks Corp issued an apology to Tempe, Arizona Police Chief Sylvia Moir and her department after six officers were asked to leave a store in the city following a request by a customer on July 4. The barista approached the officers as a customer didn’t feel safe in their presence, the Tempe Officers Association said in a series of ...

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• 7 July

  Gates says Steve Jobs cast ‘spells’ to keep Apple from dying

  

  Bloomberg Apple’s Steve Jobs was singular in his ability to take a company “on a path to die” and turn it into the world’s most valuable — in part by “casting spells,” billionaire Bill Gates said. Gates spoke of Jobs, the Apple Inc co-founder and chief executive officer who died of pancreatic cancer in 2011, in a segment on leadership ...

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• 7 July

  Iran breaches nuclear deal limits set under 2015 pact

  

  Bloomberg Iran said it would pursue nuclear talks with European nations in the coming days, while ratcheting up pressure on its partners to salvage the landmark 2015 deal by announcing it had abandoned restrictions on uranium enrichment. Deputy Foreign Minister Abbas Araghchi said his country hasn’t closed the diplomatic pathway with Europe, and that the US could join talks if ...

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