May, 2017

• 29 May

  North Korea launches ballistic missile, ignoring G-7 warning

  

  Bloomberg North Korea conducted another ballistic missile test early Monday, drawing condemnation from South Korea and Japan just days after world leaders urged Kim Jong Un to abandon his nuclear weapons program. The missile, which appears to be a Scud variant, was fired at 5:39 a.m from Wonsan off North Korea’s east coast and flew 450 kilometers towards Japan, according ...

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• 29 May

  Philippines says fight with IS militants nearing end

  Bloomberg Philippine forces said they’re in control of most of Marawi, the southern city where almost 100 people were killed and 60,000 displaced following clashes in the past week between the military and Muslim extremists linked to IS. “Our ground commanders have assured that the end is almost there,” Brigadier General Restituto Padilla said in a televised briefing in Manila ...

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• 29 May

  Macron hosts Putin as Merkel insists Europe must assert itself

  Bloomberg French President Emmanuel Macron was expected to give Russia’s Vladimir Putin a tour of the royal palace at Versailles near Paris on Monday, following up his debut at the Group of Seven meeting last week. On their first encounter, the two leaders have a range of tricky topics to discuss, including what Macron called Russia’s “invasion” of Ukraine and ...

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• 29 May

  Reliance extends tumble on concerns over debt

  

  Bloomberg Shares and bonds of billionaire Anil Ambani’s Reliance Communications Ltd. tumbled, extending their declines from last week, amid mounting concerns about the Indian phone carrier’s debts. The stock plunged as much as 24 percent, hitting an intra-day record low of 19.70 rupees, in Mumbai trading on Monday and was the day’s worst performer on S&P BSE500 index. Shares of ...

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• 29 May

  Hong Kong throngs of thousands defy bid to cool home market

  

  Bloomberg Snaking queues of thousands of prospective apartment buyers in Hong Kong signalled authorities have made no progress in cooling a red-hot property market, where prices are at records. People were lining up and over the weekend at Victoria Skye, a luxury project at the former airport site of Kai Tak, and at the Ocean Pride development by Cheung Kong ...

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• 29 May

  Vietnam PM confident of 6.7% growth without adding inflation

  

  Bloomberg Vietnamese Prime Minister Nguyen Xuan Phuc said he is confident economic growth this year will meet a government goal of 6.7 percent without adding to inflation, despite weak expansion last quarter. Vietnam is taking steps to bolster the economy as the nation seeks to retain its status as one of the world’s fastest-growing economies, the premier said in an ...

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• 29 May

  China developers surge as Evergrande hits record

  Bloomberg Chinese developers extended Asia’s biggest rally this year, with China Evergrande Group surging to a record in Hong Kong. Evergrande soared 23 percent at the close, while Country Garden Holdings Co. and Sunac China Holdings Ltd. gained more than 9 percent. Lianhua Supermarket Holdings Co. rallied 24 percent after Alibaba Group Holding Ltd. agreed to buy a stake in ...

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• 29 May

  Swiss economic growth still left in shade by Germany

  

  Bloomberg If the Swiss economic growth is still left in the shade by Germany this week, its central bank knows exactly why. Two-and-a-half years after suffering an exchange-rate shock that made its exports even more expensive, Switzerland has yet to rediscover its knack of outperforming neighboring Germany. While the two economies boast significant similarities, prompting the Swiss to dub their ...

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• 29 May

  ‘US duties to drive Canada wood exports to China’

  

  Bloomberg A rise in US tariffs on Canadian softwood will help drive an increase in lumber exports to China and other Asian markets, Canada’s top trade official said. “There’s an enormous opportunity,” said Trade Minister Francois-Philippe Champagne in an interview in Singapore. “Diversification is the key, that’s why Canada has an ambitious trade agenda.” With other Canadian industries also bracing ...

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• 29 May

  London’s hottest home markets see price cuts

  

  Bloomberg On the less fashionable fringes of London, home sellers are quickly finding out just what the market can bear. Buyers fleeing the capital’s costly center turned peripheral boroughs into London’s hottest property markets. Now, more sellers in those areas are being forced to cut their prices after values quickly outstripped the spending power of the average buyer. The number ...

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