Tag: Bloomberg

Valued at $203 billion, India readies LIC IPO, its biggest ever (Suvashree Ghosh, Vrishti Beniwal, Baiju Kalesh, Bloomberg, Al Jazeera)

In Mumbai’s sleek skyscrapers, harried bankers race the clock to appraise a company that hasn’t been valued in decades. Bureaucrats burn the midnight oil...

As digital lending explodes in India, the threats mount (Malavika Kaur Makol, Bloomberg, Al Jazeera)

When V. Rajapandian was pushed out of his job at a heat treatment plant in India, the reason had nothing to do with performance...

Gas shortage hits Pakistan’s exports, adding to economic stress (Ann Kohm, Bloomberg, Al Jazeera)

Pakistan’s natural gas shortage is hurting its most important export industry, putting even more stress on an economy already struggling with accelerating inflation and...

5 things to know about Erdogan’s plan to shore up Turkey’s lira (Asli Kandemir, Bloomberg, Al Jazeera)

Turkey’s President Recep Tayyip Erdogan unveiled an emergency plan to curb the lira’s unprecedented depreciation and protect investors against wild swings in the currency....

Indian rupee to end year as Asia’s worst-performing currency (Ronojoy Mazumdar and Subhadip Sircar, Bloomberg, Al Jazeera)

The Indian rupee is set to end a tumultuous year as Asia’s worst-performing currency with foreign funds fleeing the nation’s stocks. The currency declined 2.2%...

Turkey: Stock trading halted twice as lira crashes to new low (Onur Ant, Bloomberg, Al Jazeera)

Turkey halted trades on all listed stocks after sharp declines triggered a market-wide circuit breaker, with the lira extending declines to a record low. Trading...

Ecuador declares force majeure on all oil contracts (Stephan Kueffner, Bloomberg, Al Jazeera)

Ecuador declared force majeure on all oil contracts, including exports and imports, as the threat of soil erosion forced the shutdown of the country’s...

NSO Group explores shut down of its Pegasus spyware unit, sale (Yaacov Benmeleh and Eliza Ronalds-Hannon, Bloomberg, Al Jazeera)

NSO Group Ltd., the scandal-plagued spyware company that’s in danger of defaulting on its debts, is exploring options that include shutting its controversial Pegasus...

Blockchain to Ease Logjams as Supply Chains Ditch Paper for Digital (Enda Curran, Bloomberg)

The Covid-19 pandemic is speeding up a technological transformation of global trade as supply chains play catchup in shifting from paper to digital transactions. That’s...

A Taliban ban on women in the workforce can cost economy $1bn (Eltaf Najafizada, Bloomberg, Al Jazeera)

The Taliban’s move to restrict women from working could immediately cost the Afghan economy up to $1 billion, or 5% of GDP, the United...

Turkey’s central bank sells foreign reserves to stem lira crash (Onur Ant and Selcan Hacaoglu, Bloomberg, Al Jazeera)

Turkey’s central bank fought to shore up the plunging lira, directly intervening in foreign-exchange markets for the first time in seven years. The central bank...

US Fed chief says Omicron poses ‘downside risks’ (Bloomberg, Al Jazeera)

Federal Reserve Chair Jerome Powell, in his first public remarks on the omicron variant of the coronavirus, said it poses risks to both sides...

Twitter’s new CEO is latest on list of India-born US tech honchos (Vlad Savov and Saritha Rai, Bloomberg, Al Jazeera)

Twitter Inc. on Monday became the latest Silicon Valley titan to appoint an Indian-born chief executive officer, joining the likes of Microsoft and Google...

US jobless claims plunge to the lowest level since 1969 (Molly Smith, Bloomberg, Al Jazeera)

Applications for U.S. state unemployment benefits plunged last week to a level not seen since 1969, which if sustained would mark the next milestone...

New York City Is Building a Wall of Oysters to Fend Off Floods (Julia Hotz, Bloomberg)

A row of plastic bins sits in a gravel lot next to Brooklyn’s Domino Park promenade; each holds small pieces of New York City’s...

US suspends duty-free access to Ethiopia over human rights abuses (Samuel Gebre and Fasika Tadesse, Bloomberg, Al Jazeera)

The U.S. suspended duty-free access to Ethiopian exports because of a yearlong civil war that’s spawned a humanitarian crisis in the Horn of Africa...