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Bloomberg Iran admitted it accidentally shot down a Ukrainian jetliner that it mistook for a threat during hostilities with the US, marking a dramatic reversal after repeatedly denying such a scenario and accusing Western governments of spreading lies. Ukraine International Airlines Flight 752 was flying close to a sensitive Islamic Revolutionary Guard Corps military site when it was downed because ...

Bloomberg A convoy of US troops was hit by a roadside bomb in Afghanistan’s province of Kandahar on Saturday, AP reported, citing unidentified NATO and local officials. Two US troops were killed and two injured when the explosive device hit the military vehicle, military officials said. The Taliban earlier claimed responsibility for the attack through its spokesman Qari Yousuf Ahmadi. ...

Bloomberg President Tsai Ing-wen won a landslide victory over China-friendly opposition challenger Han Kuo-yu to clinch a second term in Taiwan’s presidential election, dealing a blow to Beijing, which has long sought to bring the democratically run island under its control. Han conceded defeat just before 9 pm at his headquarters in the southern city of Kaohsiung. Tsai had a ...

Bloomberg North Korea won’t rely on the personal relationship between its leader Kim Jong-un and US President Donald Trump as it doesn’t intend to trade its nuclear weapons for a lift of sanctions, its state-run media said, citing a foreign ministry adviser. “There will never be such negotiations as that in Vietnam, in which we proposed exchanging a core nuclear ...

Bloomberg Raghuram Rajan, former head of the Reserve Bank of India (RBI) and an outspoken critic of several of prime minister Narendra Modi’s economic and social policies, said student-led protests in the country show that the ideals of the secular nation are still valued by the youth. “It is they, who never marched to win freedom, but today march to ...

Bloomberg Tunisia’s parliament rejected the government put together by PM Habib Jemli, a move that could delay efforts to implement reforms in the North African nation. Jemli won the votes of 72 of the 217 deputies in parliament in the vote of confidence, according to the Watania 1 television station. The move gives President Kais Saied a key role in appointing ...

Bloomberg Jerome Powell was an early adopter of the view that US unemployment could fall further than thought, but back then didn’t parlay that insight into a more dovish stance on interest rates. Transcripts of Fed meetings in 2014 showed then-governor and now-Chairman Powell was already among the most optimistic Fed officials about how many Americans could be drawn back ...

Bloomberg Canadian Imperial Bank of Commerce hired former Conservative Party lawmaker Lisa Raitt as a vice-chair for global investment banking. Raitt joins CIBC on January 27 and will focus on developing and fostering senior-level client relationships and business development globally for CIBC’s capital markets division, the Toronto-based bank said in a statement. She’ll be based in Toronto. “Lisa’s experience leading ...

Bloomberg The World Bank cut its forecast for Ethiopia’s economic growth in the 2020 fiscal year to 6.3%, well below the government’s projection. The National Bank of Ethiopia has forecast that gross domestic product growth would accelerate to 10.8% for the fiscal year ending in July, up from a 9% pace in fiscal 2019 as the government implements a blueprint ...

Bloomberg American Express Co cleared a key hurdle in its bid to accessing China’s $27 trillion payments market after the central bank accepted its application to start a bank card clearing business. The People Bank of China made the announcement on its official Wechat account, without giving more details. The decision to accept the application signals that it’s moving closer ...