February, 2019

• 12 February

  Enabling trade must for post-conflict nations’ development

  

  DUBAI / WAM A new study on how post-conflict trade opportunities can be developed by emerging countries was published on the concluding day of the World Government Summit in Dubai. ‘Post-Conflict Trade: Case studies and lessons for Ethiopia and Eritrea’ was launched by the Economist Intelligence Unit after being commissioned to conduct the research by DP World. Identifying sensible opportunities ...

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• 12 February

  Trump wants to meet Xi ‘very soon’ over trade talks: Advisor

  

  Bloomberg The Trump administration said the US president still wants to meet China’s Xi Jinping in an effort to end the trade war, a sign of optimism as negotiators from the world’s two-biggest economies start their latest round of talks this week. “He wants to meet with President Xi very soon,” White House adviser Kellyanne Conway said on Fox News. ...

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• 12 February

  Nissan books $83mn Ghosn-related charges as profit forecast cut

  

  Bloomberg Nissan Motor Co. took an $83 million charge related to the compensation of former Chairman Carlos Ghosn as the Japanese automaker reeling from the shock arrest of the iconic executive warned of its lowest profit in six years. Operating profit will be 450 billion yen ($4.1 billion) this fiscal year, Nissan said on Tuesday. That’s down from Nissan’s previous ...

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• 12 February

  Malaysia takes steps to rid its new financial district of ‘1MDB ghosts’

  

  Bloomberg Malaysia is taking steps to rid its new financial district of the 1MDB taint. The Exchange TRX precinct has brought in fresh funds of $527 million in what Finance Minister Lim Guan Eng said is a sign of faith in the country’s ability to put the past behind. Kuala Lumpur is also set to see its iconic Petronas Twin ...

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• 12 February

  Sony names new PlayStation chief

  

  Bloomberg Sony Corp. promoted a marketing executive to become the new chief of its PlayStation business, the second management shuffle in less than two years at one of the company’s most important divisions. Jim Ryan will take over as president of Sony Interactive Entertainment effective April 1 after previously leading the division’s sales and marketing teams, the Tokyo-based company said ...

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• 12 February

  Indian tea sales to wilt in 2019

  

  Bloomberg Tea exports from India, the world’s second-biggest producer, may shrivel this year as a bumper crop in Kenya raises the risk of oversupply. Shipments could drop by 8 million to 10 million kilograms in the year through March from a record of 256.57 million in 2017-18 as Kenya’s output is likely to rise by as much as 60 million ...

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• 12 February

  Zilingo raises $226mn to expand fashion site

  

  Bloomberg Zilingo Pte, a Singapore-based online fashion marketplace, raised $226 million to fund an expansion into the Philippines, Indonesia and Australia. Investors in the series D financing included Sequoia Capital, Temasek Holdings Pte, Burda Principal Investments, Sofina and EDBI, the company said on Tuesday without disclosing a valuation. The startup is valued at $970 million, according to people familiar with ...

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• 12 February

  Indonesia poultry stocks soaring on supply woes

  Bloomberg Indonesia’s chicken shortage could worsen this year, driving further gains in poultry stocks, according to CGS-CIMB Sekuritas. The nation’s poultry association projects that the supply of chicks will drop to 3 billion in 2019 from 3.2 billion last year, after the government banned the use of antibiotics in chicken feed, analyst Patricia Gabriela wrote in a report. A shortage ...

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• 12 February

  Stocks rise, bonds slip on shutdown, trade hopes

  

  Bloomberg Stocks across Europe and Asia advanced and US futures rose after news emerged of a tentative deal among American lawmakers to avert another government shutdown. Treasury yields climbed. Carmakers led the advance in the Stoxx Europe 600 Index, while contracts on the Dow, Nasdaq and S&P 500 all pointed to a firmer open. The dollar held on to most ...

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• 12 February

  Traders with $515bn boycott stocks for cash

  Bloomberg Investors with $515 billion surveyed by Bank of America Merrill Lynch aren’t convinced by the new-year equity rally and prefer cash to stocks. Global equity allocations in February fell to the lowest level since September 2016, according to BofA, even as the MSCI All Country World Index is up almost 8 percent in 2019. That indicates a deep lack ...

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