April, 2023

• 26 April

  Factory slump hits Taiwan as industrial output plummets

  

  BLOOMBERG Taiwan’s industrial production plunged in March, weighed down by a manufacturing sector struggling to overcome a slump in global demand. Industrial output shrank 14.5% last month compared to a year ago, the Economics Ministry said in a statement. Economists surveyed by Bloomberg had forecast a 12.3% drop. March’s decline was the biggest contraction since May 2009 — in the ...

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• 26 April

  Adani Group starts first bond buyback after Hindenburg attack

  

  BLOOMBERG Adani Group bonds rose after a key company started the first debt buyback by Indian billionaire Gautam Adani’s conglomerate since it was targeted by a short seller in January. Adani Ports & Special Economic Zone Ltd plans to buy back as much as $130 million of its July 2024 bonds and similar amounts in each of the next four ...

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• 26 April

  Japan’s top insurer sees BOJ tweaking curve control in June

  

  BLOOMBERG Nippon Life Insurance Co expects the Bank of Japan (BOJ) will adjust its yield-curve control policy in June and will accelerate the purchase of local bond holdings when it does so, according to its annual allocation plan. The central bank will allow benchmark yields trade in a range of 1% around zero, compared to a current cap of 0.5%, ...

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• 26 April

  Xi speaks with Zelensky for first time since war began

  

  BLOOMBERG Chinese President Xi Jinping told Volodymyr Zelenskiy that the only way to achieve peace for Ukraine is through negotiations with Russia. In their first conversation since the Russian invasion last year, Xi also told the Ukrainian leader that China will send an envoy to visit Kyiv. Ukrainian officials said the nearly one-hour conversation was an “important dialogue.” The talks ...

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• 26 April

  Joe Biden airs 90 second TV ad hours after entering race

  

  BLOOMBERG President Joe Biden launched the first television ad of his newly launched reelection campaign on Wednesday, backed by a first-week expenditure of more than $250,000 — mostly in six battleground states. The 90-second ad — extraordinarily long in modern television advertising — comes 24 hours after making his candidacy official with an online video. The paid ad echoes many ...

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• 26 April

  US to boost nuclear deterrence for South Korea as tensions rise

  

  BLOOMBERG The US will strengthen the deterrence it provides South Korea against nuclear threats, securing a pledge from Seoul to honour commitments to not pursue its own atomic arsenal. US President Joe Biden and South Korean President Yoon Suk-yeol will announce the agreement when they meet at the White House, according to senior American administration officials who spoke on condition ...

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• 26 April

  Turkey’s Erdogan cancels campaign trips

  

  BLOOMBERG Turkish President Recep Tayyip Erdogan cancelled three scheduled campaign appearances less than a month before high-stakes elections after falling ill during a live television interview. Broadcasting was disrupted for several minutes after Erdogan, 69, became sick with what he said was stomach flu. In power for the past two decades, Erdogan has developed a reputation as a tireless strongman ...

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• 26 April

  Retail investors turning bearish on Japan stocks

  

  BLOOMBERG Even as Warren Buffett’s blessing and buying by the foreign investors helps drives outperformance in Japanese stocks this year, retail investors are turning increasingly bearish. The blue-chip Nikkei 225 Stock Average has risen more than 9% so far to above 28,000, while the MSCI Asia Pacific Index Excluding Japan Index is up less than 1%. Gains have been helped ...

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• 26 April

  China stock selloff pauses after $446 billion in value wiped out

  

  BLOOMBERG A rout in Chinese stocks paused after a $446 billion wipeout in value for mainland shares this month, but a meaningful rebound may be hard to come by as geopolitical tensions simmer. The benchmark CSI 300 Index ended little changed on Wednesday. The MSCI gauge of Chinese shares advanced as much as 1.6% after a six-day slide, though it’s ...

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• 26 April

  Adafza reports two-fold rise in leased-out spaces, properties

  

  ABU DHABI / WAM Abu Dhabi Airports Free Zone (Adafza), a subsidiary of Abu Dhabi Airports, has recorded a two-fold increase in leased-out spaces and properties in 2022. The achievements reaffirm the Free Zone status as a unique preferred business destination for local, regional and international organisations across several economic sectors. This strong performance was dually driven by growth in ...

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