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Saturday, October 5, 2024
TopicBloomberg wire

Topic: Bloomberg wire

Sri Lanka names new finance minister, after President Rajapaksa’s brother quits post

Ali Sabry will take over from Basil Rajapaksa as the head of finance. Sabry is among the key decision makers, as the president prepares for a bailout from the IMF.

Good luck trying to sanction China’s 4,762 ‘little giants’

Beijing has stepped up efforts to nurture innovative small and mid-sized enterprises, hoping some will become indispensable to multinational companies.

Cheap tickets to stay as country’s airlines squabble on fare hikes

Sunil Bhaskaran, chief executive officer of AirAsia, said Indian aviation is suffering from 'irresponsible competition' that’s kept fares low despite high taxes and fuel prices.

Hong Kong leader Carrie Lam to quit, won’t seek second term

Lam, who has been the city’s least popular chief executive, said she informed authorities in Beijing of her plan at a National People’s Congress session over a year ago.

Cost of living rises as companies pass on higher prices due to global supply squeeze

Companies passing on costs will add to inflationary pressures, but the consumer price-targeting RBI has maintained that the current spike is supply driven and best dealt with by the govt.

Mortgage financier HDFC Limited all set to merge with HDFC Bank, shares soar

Once the deal is effective, HDFC Bank will be 100% owned by public shareholders and existing shareholders of HDFC will own 41% of the bank, according to a filing Monday.

Imran Khan outsmarts Pakistan’s opposition for now, tells country to ‘prepare for elections’

A former cricket great, Khan’s Pakistan Tehreek-e-Insaf (Justice) party has 155 seats. With the help of coalition partners, he’s retained a slim majority of little more than 172.

WHO suspends procurement & supply of Covaxin, citing issues at Bharat Biotech’s facilities

The Indian vaccine maker has committed to address deficiencies in good manufacturing practices and is developing an action plan, WHO said, without specifying when the suspension will be lifted.

European Union leaders likely to warn China on support to Russia

European Commission President Ursula von der Leyen said China had a 'special responsibility' to demand that Russia respect international law and to defend Ukraine’s sovereignty.

Political turmoil in Pakistan adds to surge in default risk, triggers currency & bond loss

Pakistan’s default risk as measured by five-year credit-default swaps has climbed to highest since 2013. While its 5.625% dollar bonds due in December have already tumbled 5%.

On Camera

Is support reducing for Kolkata doctors? Mamata not the only one who has to course correct

West Bengal is ready to welcome its daughter home for Durga Puja, but the family is unable to keep the deep-rooted discord within from spilling out. At its head is Mamata Banerjee.

How Modi govt’s Atmanirbhar policy could have hobbled BSNL’s efforts to catch up in 4G race

Restrictions on use of equipment from global vendors have necessitated new indigenous technology being developed, tested & deployed—further delaying BSNL's 4G & 5G launch.

IAF chief AP Singh red-flags Tejas delay, says China ahead in technology & production capacity

Air force chief says HAL needs to churn out 24 aircraft per year. It is important for IAF to have indigenous weapons systems to deal with any security challenges, he says.

Islam doesn’t kill democracy. The army-Islam combo does

How come Indonesia, Malaysia, Turkey and Sri Lanka remain constitutional, democratic and stable despite Islam and Buddhism respectively, but Pakistan, Bangladesh and Myanmar don’t?