June, 2019

• 26 June

  UAE, Barbados to host UNCTAD events in ’20

  GENEVA / WAM The United Arab Emirates and Barbados have joined forces to co-host major United Nations Conference on Trade and Development (UNCTAD) events in 2020. Barbados will host the 15th UNCTAD quadrennial conference in Bridgetown, while the UAE will host the World Investment Forum and the first eCommerce Week for Asia in Abu Dhabi. The two countries will co-chair ...

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• 26 June

  US companies find legal ways around ‘Huawei blacklist’

  

  Bloomberg American technology companies have resumed selling certain products to Huawei Technologies Co after concluding there are legal ways to work with the Chinese telecom giant in spite of its inclusion on a Trump Administration blacklist. Micron Technology Inc, the largest US maker of computer memory chips, said that it had started shipping some components to Huawei after its lawyers ...

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• 26 June

  China can fish in Philippines’ exclusive waters, says Duterte

  

  Bloomberg China can fish in parts of the South China Sea where the Philippines holds exclusive rights, President Rodrigo Duterte’s spokesman said, despite warnings from other officials this would be unconstitutional. Duterte is giving China this “privilege” out of friendship, and because of funding and trade relations extended by Beijing to his government, presidential spokesman Salvador Panelo said in an ...

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• 26 June

  ‘Asia’s monster trade pact possible this year’

  Bloomberg As a monster Asian trade pact enters its next round of deliberations this weekend, Deborah Elms is upbeat about its prospects for completion this year — though perhaps without all 16 members. The Regional Comprehensive Economic Partnership — which includes all 10 Southeast Asian economies plus China, Japan, South Korea, India, Australia, and New Zealand — could be finalised ...

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• 26 June

  Indonesia eyes remote islands to relocate prisons

  Bloomberg Indonesian prisons are overflowing with convicts and authorities worried about their negative influence on city dwellers are exploring shifting them to some of the uninhabited islands in the archipelago. Overcrowded jails mean petty criminals like chicken thieves are lodged together with drug traffickers and terrorists, according to Indonesia’s Coordinating Minister for Politics, Legal, and Security Affairs Wiranto. The inability ...

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• 26 June

  India considers tougher rules for audit firms

  

  Bloomberg India is considering tougher rules for audit firms, including a cap on the number of listed companies they can examine, according to a person with knowledge of the matter, as the government seeks to tighten oversight after a recent spate of governance lapses. To stamp out conflicts of interest, the corporate affairs ministry is also weighing either a complete ...

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• 26 June

  Macron calls for strengthening of Renault, Nissan ‘flagship’

  

  Bloomberg French President Emmanuel Macron offered a political boost to the fraught partnership between Renault SA and Nissan Motor Co, calling for their car-making alliance to be strengthened. The combination is “a giant and a force that must not only be preserved but developed through synergies and alliances in all their forms to make it stronger in the face of ...

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• 26 June

  Tech stocks rise on earnings; Treasuries fall, dollar rises

  

  Bloomberg Technology shares gained on strong earnings from a leading chipmaker, while Treasuries fell with gold. The Nasdaq indexes rose after Micron Technologies Inc’s profit topped estimates. Chipmakers Intel Corp and Cisco Systems Inc also rallied. The S&P 500 pared early gains as heathcare shares and consumer staples weighed on benchmarks. Futures spiked higher overnight after a CNBC report that ...

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• 26 June

  Bitcoin surge pushes weekly gain to 30%

  

  Bloomberg Bitcoin’s furious run is starting to look more and more like it did at the height of crypto-mania two years ago. The virtual currency surged as much as 14 percent on Wednesday, topping $12,900 for the first time since January 2018, and bringing its gain to about 30 percent. The digital asset has climbed more than 200 percent since ...

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• 26 June

  FedEx sees improving outlook for e-commerce in ‘transition year’

  

  Bloomberg FedEx Corp. predicted a “transition year’’ for fiscal 2020, with an improving outlook for e-commerce profits tempered by concerns that international trade tensions will worsen. Revenue per package in the ground-delivery operation rose 2.2 percent in the quarter ending on May 31 as volume growth accelerated to 8.8 percent, FedEx said in a statement. That signalled progress in the ...

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