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Bloomberg Uganda is seeking to amend a loan agreement it signed with China in 2015 to ensure the government doesn’t lose control of the nation’s only international airport, the Monitor newspaper reported, citing people with knowledge of the matter. The East African nation borrowed $200 million from the Export-Import Bank of China to expand the Entebbe airport, according to the ...

Bloomberg Britain’s billionaire Issa brothers are considering merging UK grocer Asda Group with EG Group, their international chain of gas stations and convenience stores, people with knowledge of the matter said. The Issas are studying a range of strategic alternatives for EG Group, which they own together with buyout firm TDR Capital, the people said, asking not to be identified ...

Bloomberg As Americans celebrated Thanksgiving with turkey prices at record highs, another poultry dish that’s a beloved holiday tradition could be in short supply: fried chicken in Japan. Convenience stores in Japan like 7-Eleven and FamilyMart are running low on fried chicken for their holiday platters due to plant closures in Thailand, one of the world’s major chicken producers, following ...

Bloomberg The investment firm for one of the world’s biggest retail fortunes is boosting its private equity bets after stepping back from public markets. David Sainsbury, whose great-grandfather founded supermarket chain J Sainsbury Plc, plans to put as much as 253 million pounds ($337 million) into private equity funds through his family office, Innotech Advisers, according to a UK registry ...

Bloomberg An unstoppable ascent in the renminbi is signalling Beijing’s growing ease with gradually freeing up one of the world’s most tightly-managed currencies. Since the renminbi hit a six-year high on a trade-weighted basis on November 17, the People’s Bank of China (PBOC) has set the currency’s daily reference rate at only mildly weaker-than-expected levels. The central bank also has ...

Bloomberg A gauge of short-term funding costs in the euro area tumbled to a record low amid a cash glut that has exacerbated the hunt for collateral before the year-end. Three-month Euribor — a benchmark based on the average rate that large banks in the region can theoretically borrow from one another — falls by 1.1 basis points, the most ...

Bloomberg Argentina’s central bank tightened access to hard currency further, the latest attempt by the crisis-prone country to contain dwindling reserves amid the growing devaluation expectations. The central bank published one rule change affecting banks and another affecting consumers, as it tries to preserve its store of dollars to help defend the value of the peso. The measures follow midterm ...

Bloomberg Nordea Bank Abp is urging its employees in Denmark to bring a Covid-19 certificate when working at the office. The biggest Nordic bank isn’t currently checking whether employees have a Covid-19 passport, but said staff are “expected to act responsibly” and follow hygiene protocols. The purpose is to limit the spread of the virus, a Nordea spokesman said in ...

Bloomberg Bank of Korea (BOK) Governor Lee Ju-yeol said interest rates are still accommodative after two hikes since August, suggesting further tightening is in the pipeline as inflation risks mount in the recovering economy. The board considered the price pressures building in the economy and financial imbalances when it decided to raise rates by 25 basis points to 1%, Lee ...

Bloomberg The explosive growth in sustainability-linked loans has exposed a number of shortcomings that need to be resolved in order to avoid greenwashing, according to the global head of sustainable finance at Danske Bank. As things stand now, there are “clear risks,” Samu Slotte, who’s based in Danske’s Helsinki office, said in an interview. “There is room for improvement.” Among ...