July, 2019

• 17 July

  Singapore’s export slumps amid trade war

  Bloomberg Singapore’s exports plummeted in June amid a worsening trade war, spelling more bad news for the city state’s economy. Non-oil domestic exports contracted 17.3 percent from a year ago after falling a revised 16.3 percent in May, Enterprise Singapore said. That was worse than the median estimate of a 9.6 percent decline in a Bloomberg survey of economists. The ...

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• 17 July

  Visa invests in Go-Jek to push digital pay in SE Asia

  

  Bloomberg Visa Inc has become the latest investor in ride-hailing giant Go-Jek as the two companies push digital payments across Southeast Asia. The world’s biggest payments network has invested an undisclosed amount in Go-Jek as part of the Indonesian company’s ongoing series F fundraising round, the two companies said. The move follows Go-Jek’s announcement this month it had secured funding ...

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• 17 July

  India’s Apollo Hospitals family seeks investors, asset sales to cut debt

  

  Bloomberg The family that controls Apollo Hospitals Enterprise Ltd, India’s largest private hospital chain, is looking to sell assets or bring an outside investor into their holding company to pay down debt. The aim is to reduce the Apollo shares pledged by the family as collateral to lenders, to 20 percent of their total holding in the company from about ...

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• 17 July

  India mulls splitting world’s top coal firm to boost output

  

  Bloomberg India may spin off units of Coal India Ltd, the world’s largest coal miner, into separate listed companies to boost competition and raise government funds, according to people with knowledge of the matter. The state-run company and the coal ministry are studying a proposal by the finance ministry’s Department of Investment & Public Asset Management to list four of ...

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• 17 July

  China’s DouYu raises $775m in US IPO

  

  Bloomberg Chinese video-game live-streaming platform DouYu International Holdings Ltd and its shareholders raised $775 million after pricing its US initial public offering at the bottom of its marketed range. The company, which delayed its IPO amid market jitters in May, sold 44.9 million American depository shares for $11.50 each, according to a statement. Its existing investors sold 22.5 million shares ...

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• 17 July

  French-US clash over tech tax casts shadow over G-7

  

  Bloomberg A French-US clash over digital taxation overshadowed the start of a Group of Seven (G-7) finance chiefs meeting as France refused to flinch on its levy that would hit tech giants from Facebook to Alphabet’s Google. Just before an encounter with US Treasury Secretary Steven Mnuchin at the G-7 near Paris, French Finance Minister Bruno Le Maire pledged to ...

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• 17 July

  Ericsson earnings miss estimates, says 5G in Asia to weigh on profit

  

  Bloomberg Ericsson AB posted earnings that missed analyst estimates for the first time in six quarters and warned its rollout of 5G mobile networks in Asia would weigh on profits, in a rare setback to CEO Borje Ekholm’s turnaround efforts. With Ericsson battling Finland’s Nokia Oyj and China’s Huawei Technologies Co for pole position in 5G, Ericsson said the first ...

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• 17 July

  Siemens to resume $6.7b train deliveries to Deutsche Bahn

  

  Bloomberg Siemens AG will resume deliveries on a 6 billion-euro ($6.7 billion) high-speed train order from its biggest customer, Deutsche Bahn AG, ending a three-month freeze that followed the discovery of an equipment fault, according to a person familiar with the matter. An announcement of the resumption in the handover of its flagship ICE 4 trains to the German rail ...

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• 17 July

  US housing starts fall on ‘multifamily units’

  

  Bloomberg US new-home construction fell in June for a second month as a drop in apartment building outweighed a pickup in single-family projects. Residential starts declined 0.9 percent to a 1.25 million annualised rate, the slowest in three months, according to government figures. Permits, a proxy for future construction, dropped 6.1 percent to a 1.22 million rate, also reflecting a ...

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• 17 July

  European car sales fall 7.9% in June, resume downward spiral

  

  Bloomberg European car registrations fell sharply in June, resuming a downward spiral this year that has seen profit warnings at German manufacturer Daimler AG and a quarterly automotive division loss at rival BMW AG. Sales dropped 7.9 percent to 1.49 million cars, the European Automobile Manufacturers’ Association said, the worst monthly decline since December. France and Spain had falls of ...

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