March, 2019

• 10 March

  US, China reach consensus on many vital issues, Yi says

  

  Bloomberg China and the US have reached consensus on many “crucial” issues and have discussed the need to observe the “autonomy” of each other’s monetary policy, People’s Bank of China (PBOC) Governor Yi Gang said. “The two sides discussed issues surrounding the yuan including the need to abide by previous commitments made by Group of 20 nations not to engage ...

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• 10 March

  Pakistan set to receive $2bn UAE loan soon

  Bloomberg Pakistan will soon get a $2 billion loan from the United Arab Emirates (UAE) as part of a package that will help boost its dwindling finances. The South Asian nation already received $1 billion in January in the first tranche of a $3 billion agreement between the Abu Dhabi Fund for Development (ADFD) and the State Bank of Pakistan, ...

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• 10 March

  Philippines 17.5bn shopping bags create plastic waste mess

  

  Bloomberg The Philippines uses 17.5 billion plastic shopping bags and about 60 billion plastic sachets a year, generating so much waste that local governments are unable to cope, according to the Global Alliance for Incinerator Alternatives, a non-governmental organization. Filipinos also use about 45 million thin film bags daily, the organisation said in a statement, citing a study conducted in ...

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• 10 March

  Alibaba, Ant to form oversight committee to tighten control

  

  Bloomberg Alibaba Group Holding Ltd. and Ant Financial will establish a steering committee led by the e-commerce giant to spearhead joint business initiatives and ensure their long-term interests are aligned, according to people familiar with the matter. China’s top online retailer and its biggest internet financial services giant will create a so-called “new economy body,” headed up by Alibaba Chief ...

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• 10 March

  Hong Kong’s small-cap IPO numbers down 45%

  

  Bloomberg Hong Kong’s stock market has seen price surges so wild that senior officials have said they feared for the city’s reputation as a global financial center. A subsequent crackdown appears to be working. Actions by the local exchange and securities regulator contributed to a 45 percent fall in initial public offering (IPO) applications for the city’s small-company venue last ...

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• 10 March

  Rupiah slips most in eight months

  

  Bloomberg The rupiah slid the most in eight months, leading losses among Asia’s emerging-market currencies, amid rising concern global growth is slowing. Indonesia’s central bank said it intervened to limit a sell-off in the currency and local bonds. The rupiah tumbled as much as 1.4 percent, the biggest intraday drop since June, to hit a two-month low of 14,335 per ...

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• 10 March

  A key source of funding for Indian founders is drying up

  

  Bloomberg India’s business titans are facing a worrying new development: in recent weeks, shadow lenders have been cutting them off from a key financing channel. Company founders have long fueled dreams to expand their business empires with loans they get by pledging stakes in their firms. But recent scares have prompted at least two major shadow banks to turn off ...

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• 10 March

  Murk around no-deal Brexit tariffs confounds business

  

  Bloomberg Confusion around which goods will be subjected to UK import tariffs in a no-deal Brexit is exasperating companies as they seek to finalise preparations for the split. The government will reveal details of the plan only if Prime Minister Theresa May’s deal to quit the European Union is rejected by Parliament next week, an official said, without providing a ...

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• 10 March

  Canadian job market is off to best start to a year since 1981

  

  Bloomberg Canada’s economy posted its second-straight surprise job surge, making the labour market a lone bright spot for an economy in the middle of a sharp slowdown. Employment increased by 55,900 in February, all full-time jobs, Statistics Canada said in Ottawa, building on a 66,800 gain in January. The two-month gain is the best start to a year since 1981. ...

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• 10 March

  Spotify, Google appeal ruling that boosted songwriter payments

  

  Bloomberg Spotify Technology SA and other technology giants appealed a ruling that increased the royalties they must pay to songwriters, a move that threatens to further damage the companies’ already-tenuous relationship with the music industry. Songwriters celebrated last year when the Copyright Royalty Board ruled that they will get at least a 15.1 percent share of streaming revenues over the ...

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