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Britain believes it has chosen the ideal moment to throw its weight behind a financial innovation that might help save the world. As part of Prime Minister Boris Johnson’s blueprint to fight the climate emergency, the UK is exploring the creation of a London-based international market in carbon offsets, carbon credits and derivatives linked to emissions-cutting investments. The plan sounds ...

Bloomberg Afghanistan’s government is struggling to maintain its grip on power after President Donald Trump’s decision to accelerate US troop withdrawal from the war-torn nation emboldened the Taliban and other extremists groups. The United Nations has noted a dramatic surge in violence since Afghanistan President Ashraf Ghani’s government and the Taliban began peace talks in September, ranging from attacks on ...

Bloomberg Ethiopia’s Prime Minister Abiy Ahmed said he will meet with the three envoys appointed by the African Union, dismissing a move by the regional body to mediate a conflict between the federal government and the northern region of Tigray. The African Union named three former heads of state as envoys. The PM’s office said that news of envoys traveling ...

Bloomberg Hungary’s central bank is about to take its $2.5 billion asset-purchase program to the next level as it prepares to buy the bonds of a company owned by one of its entities. The debt sale under the central bank’s plan, flagged in a corporate filing, may further blur what’s become a hazy boundary on what central banks around the ...

Bloomberg Thailand relaxed rules on capital outflows and will increase scrutiny of fund flows into bonds to help cool a currency rally that threatens its economic recovery from the pandemic. The Bank of Thailand (BOT) moved forward measures that were supposed to begin early next year, most of which will now take effect from end-November. The rules will make it ...

Bloomberg Nomura Holdings Inc plans to introduce flexible work on a permanent basis for its overseas staff, the latest global financial firm to consider such a move as the pandemic reshapes office life. While the planning is at an early stage, Nomura sees both an “appetite and ability to support an operating model in which 50% of our corporate workforce ...

Bloomberg Indonesia’s central bank cut its policy rate for the first time in four months, urging banks to lend more to help drive an economic recovery. Bank Indonesia cut its seven-day reverse repurchase rate by 25 basis points to 3.75%, the lowest since the benchmark was introduced in 2016, as predicted by 11 of 26 economists surveyed by Bloomberg. “I ...

Bloomberg China’s central bank remains on course to taper its emergency support even as a string of defaults by government-linked companies sends tremors through the credit markets. Officials have been preparing investors about the possibility of withdrawing some of that stimulus as the economic recovery picks up pace. While a surge in market interest rates following the defaults appears to ...

Bloomberg Absa Group Ltd said it’s unlikely to pay an ordinary dividend this year as the South African bank conserves cash to deal with the economic fallout from the coronavirus pandemic. Earnings before one-time items and accounting adjustments will probably decline more than 40% from a year earlier, Johannesburg-based Absa said. It’s withholding payouts despite having strong buffers and forecasting ...

Bloomberg Apple slammed Facebook and other internet giants for their ad-targeting practices in response to a letter questioning a decision by the iPhone maker to delay a new privacy feature. The Cupertino, California-based technology company criticised Facebook’s approach to advertising and user tracking, according to a written reply sent to several human rights and privacy organisations, including the Electronic Frontier ...