Investors retreat: Foreign investors are losing interest in China, and hedge funds that target the world’s second-biggest economy are paying the price. https://tinyurl.com/bde6amu6
Long search: A $4.3 billion India fund's long-drawn hunt for a new chief executive officer is raising concerns among investors, sources say, potentially posing a risk to the government’s plans for the business. https://tinyurl.com/4j8cm9fn
Price wars: Tesla rolled out a new round of price cuts in China, sending auto stocks tumbling on concerns the move will re-spark a bruising price war that had showed signs of abating. https://tinyurl.com/4dv53xkw
Looking for insightful commentary and in-depth analyses on India? Sign up here https://bloom.bg/45jP1GP for our new India Edition newsletter to stay updated with the latest reportage on billionaires and businesses behind its rise. It's free to read.
Long search: A $4.3 billion India fund's long-drawn hunt for a new chief executive officer is raising concerns among investors, sources say, potentially posing a risk to the government’s plans for the business. https://tinyurl.com/4j8cm9fn
Price wars: Tesla rolled out a new round of price cuts in China, sending auto stocks tumbling on concerns the move will re-spark a bruising price war that had showed signs of abating. https://tinyurl.com/4dv53xkw
Looking for insightful commentary and in-depth analyses on India? Sign up here https://bloom.bg/45jP1GP for our new India Edition newsletter to stay updated with the latest reportage on billionaires and businesses behind its rise. It's free to read.
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Niger junta vows to prosecute president: Niger’s self-declared military leadership vowed to prosecute deposed President Mohamed Bazoum, even as it said it’s prepared to reopen talks with a West African regional economic bloc that has demanded the junta cede power. https://bloom.bg/3OzkYnR
BRICS to discuss accelerated use of local currencies: The BRICS group of emerging-market nations will discuss deepening the use of local currencies in trade between member states at a summit in South Africa next week, the nation’s ambassador to the bloc said. https://bloom.bg/3QxImog
Mastercard to buy stake in MTN’s fintech unit: MTN, Africa’s biggest wireless carrier, said Mastercard agreed to take a minority stake in its financial-technology business, which the company values at $5.2 billion. https://bloom.bg/3sgEJJ5
Sign up here [https://bloom.bg/3OsOf3y] for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed. Next Africa publishes every Tuesday and Friday.
BRICS to discuss accelerated use of local currencies: The BRICS group of emerging-market nations will discuss deepening the use of local currencies in trade between member states at a summit in South Africa next week, the nation’s ambassador to the bloc said. https://bloom.bg/3QxImog
Mastercard to buy stake in MTN’s fintech unit: MTN, Africa’s biggest wireless carrier, said Mastercard agreed to take a minority stake in its financial-technology business, which the company values at $5.2 billion. https://bloom.bg/3sgEJJ5
Sign up here [https://bloom.bg/3OsOf3y] for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed. Next Africa publishes every Tuesday and Friday.
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Media is too big
VIEW IN TELEGRAM
The threat of war with China is the defining issue in Taiwan's presidential election. Lai Ching-te, frontrunner in the polls, might be the one to lead Taiwan during this uncertain period.
Read The Big Take https://trib.al/9HCjHff
Read The Big Take https://trib.al/9HCjHff
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Donald Trump was indicted in Atlanta over efforts to undo his 2020 election defeat in Georgia, adding a fourth criminal case against the former president as he campaigns for the White House.
The indictment charges Trump and 18 other defendants, including former New York City Mayor Rudolph Giuliani, former White House Chief of Staff Mark Meadows, and former senior Justice Department official Jeffrey Clark. Read about the charges: https://trib.al/x72tT27
The indictment charges Trump and 18 other defendants, including former New York City Mayor Rudolph Giuliani, former White House Chief of Staff Mark Meadows, and former senior Justice Department official Jeffrey Clark. Read about the charges: https://trib.al/x72tT27
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Nigeria inflation: Nigeria’s inflation rate climbed to a fresh 18-year high on surging transport costs and food prices, adding to pressure on the central bank to raise borrowing costs when it meets next month. https://bloom.bg/446r5FL
Naira loses key support: Nigeria’s naira has lost an essential source of support after the central bank’s long-delayed financial statements revealed that effective foreign-exchange reserves at its disposal were much lower than previously disclosed. https://bloom.bg/3KHm9QL
Uganda's anti-LGBTQ law: Uganda's central bank is set to hold its key interest rate for a fifth time in a row after the World Bank’s decision to halt new funding to the country for its passage of anti-LGBTQ legislation led the local currency to weaken and because of new inflationary pressures. https://bloom.bg/3OWzqre
Sign up here [https://bloom.bg/3OsOf3y] for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed. Next Africa publishes every Tuesday and Friday.
Naira loses key support: Nigeria’s naira has lost an essential source of support after the central bank’s long-delayed financial statements revealed that effective foreign-exchange reserves at its disposal were much lower than previously disclosed. https://bloom.bg/3KHm9QL
Uganda's anti-LGBTQ law: Uganda's central bank is set to hold its key interest rate for a fifth time in a row after the World Bank’s decision to halt new funding to the country for its passage of anti-LGBTQ legislation led the local currency to weaken and because of new inflationary pressures. https://bloom.bg/3OWzqre
Sign up here [https://bloom.bg/3OsOf3y] for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed. Next Africa publishes every Tuesday and Friday.
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FYI: We've launched a new Telegram channel focused on bringing you the latest crypto news as it happens.
Join the Bloomberg Crypto Telegram channel here: https://tttttt.me/bloombergnewscrypto
Join the Bloomberg Crypto Telegram channel here: https://tttttt.me/bloombergnewscrypto
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Diversifying supply chain: Apple's partner is kicking off production in southern India to deliver iPhone 15s just weeks after they start shipping from factories in China. https://tinyurl.com/5erj5rfw
Curbing selloff: Chinese authorities asked some investment funds to avoid net selling stocks this week as a market selloff deepened, sources say. https://tinyurl.com/5575w8nn
Drawing scrutiny: The recreational marijuana industry is pouring money into products with high THC levels, and early-to-legalize states are rethinking their laws because of it. Read The Big Take. https://tinyurl.com/2s47n8cs
Looking for insightful commentary and in-depth analyses on India? Sign up here https://bloom.bg/45jP1GP for our new India Edition newsletter to stay updated with the latest reportage on billionaires and businesses behind its rise. It's free to read.
Curbing selloff: Chinese authorities asked some investment funds to avoid net selling stocks this week as a market selloff deepened, sources say. https://tinyurl.com/5575w8nn
Drawing scrutiny: The recreational marijuana industry is pouring money into products with high THC levels, and early-to-legalize states are rethinking their laws because of it. Read The Big Take. https://tinyurl.com/2s47n8cs
Looking for insightful commentary and in-depth analyses on India? Sign up here https://bloom.bg/45jP1GP for our new India Edition newsletter to stay updated with the latest reportage on billionaires and businesses behind its rise. It's free to read.
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COMING SOON: Sign up here: [ http://bloom.bg/45jP1GP ] for the India Edition newsletter by Menaka Doshi – an insider's guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise, delivered weekly. It is free to read.
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Nigeria Eurobonds: Nigeria’s eurobonds were the worst performers in emerging-market credit for a second day on Wednesday, after the government said it will suspend increases to gasoline prices even against the backdrop of rising crude. https://bloom.bg/3L5QkBF
Rand swings: Rand traders are starting to look to next year’s South African election, betting that it will bring with it whispsaws in the currency. https://bloom.bg/3YDwZNB
Miners face class action: BHP, South32 and a unit of Seriti Resources may face a class action from coal miners with lung disease in South Africa who worked at the companies’ operations over the last six decades. https://bloom.bg/3QBxgi5
Sign up here [https://bloom.bg/3OsOf3y] for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed. Next Africa publishes every Tuesday and Friday.
Rand swings: Rand traders are starting to look to next year’s South African election, betting that it will bring with it whispsaws in the currency. https://bloom.bg/3YDwZNB
Miners face class action: BHP, South32 and a unit of Seriti Resources may face a class action from coal miners with lung disease in South Africa who worked at the companies’ operations over the last six decades. https://bloom.bg/3QBxgi5
Sign up here [https://bloom.bg/3OsOf3y] for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed. Next Africa publishes every Tuesday and Friday.
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Debt restructuring: Chinese $137 billion shadow banking giant Zhongzhi, whose cash crunch has fanned contagion fears, is planning to restructure its debt and has hired KPMG for an audit, sources say. https://tinyurl.com/y49nmt7c
Cheapest tickets: Cathay Pacific plans to start selling some of its cheapest tickets in more than three-and-a-half years on Thursday, offloading 100,000 round-trip economy seats at steep discounts. https://tinyurl.com/5c549urd
Crypto hell: It was "Vicky’s" job to defraud people through social engineering. But what started as a game of cat and mouse with a scammer became a descent into crypto hell. Read The Big Take. https://tinyurl.com/4tbr42h9
Cheapest tickets: Cathay Pacific plans to start selling some of its cheapest tickets in more than three-and-a-half years on Thursday, offloading 100,000 round-trip economy seats at steep discounts. https://tinyurl.com/5c549urd
Crypto hell: It was "Vicky’s" job to defraud people through social engineering. But what started as a game of cat and mouse with a scammer became a descent into crypto hell. Read The Big Take. https://tinyurl.com/4tbr42h9
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Coup threatens regional chaos: Tensions are ratcheting up in West Africa, with foreign powers jockeying for position in what was the last bastion of stability in a hotspot of jihadist activity. https://bloom.bg/3QH2hB4
Kenya 'Hustler Fund': Kenya is in talks with the World Bank and European Union to ramp up its “Hustler Fund” project that is already providing cheap credit to more than 20 million of the country’s poor. https://bloom.bg/44c30xl
Barbeque Index shows food inflation slowing: Food prices increased at the slowest pace in at least nine months as the cost of cooking oil plunged, Bloomberg’s Shisa Nyama Index shows, vindicating the central bank’s decision to leave its benchmark rate unchanged after overall inflation slowed. https://bloom.bg/47EGRKX
Sign up here [https://bloom.bg/3OsOf3y] for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed. Next Africa publishes every Tuesday and Friday.
Kenya 'Hustler Fund': Kenya is in talks with the World Bank and European Union to ramp up its “Hustler Fund” project that is already providing cheap credit to more than 20 million of the country’s poor. https://bloom.bg/44c30xl
Barbeque Index shows food inflation slowing: Food prices increased at the slowest pace in at least nine months as the cost of cooking oil plunged, Bloomberg’s Shisa Nyama Index shows, vindicating the central bank’s decision to leave its benchmark rate unchanged after overall inflation slowed. https://bloom.bg/47EGRKX
Sign up here [https://bloom.bg/3OsOf3y] for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed. Next Africa publishes every Tuesday and Friday.
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Hiring for India: UBS plans to rebuild its team in India as it prepares to create more products to compete for managing the wealth of rich Indians. https://tinyurl.com/pj72anx5
Crisis widens: China’s state-owned property developers are warning of widespread losses, fueling concerns that the housing crisis is expanding from the private sector to companies with government backing. https://tinyurl.com/3vd9ws9a
EV graveyards: A subsidy-fueled boom helped build China into an electric-car giant. But that lightning-fast development also left behind plenty of casualties with obsolete cars piling up in cities. Read The Big Take. https://tinyurl.com/5e3fwh7b
Looking for insightful commentary and in-depth analyses on India? Sign up here https://bloom.bg/45jP1GP for our new India Edition newsletter to stay updated with the latest reportage on billionaires and businesses behind its rise. It's free to read.
Crisis widens: China’s state-owned property developers are warning of widespread losses, fueling concerns that the housing crisis is expanding from the private sector to companies with government backing. https://tinyurl.com/3vd9ws9a
EV graveyards: A subsidy-fueled boom helped build China into an electric-car giant. But that lightning-fast development also left behind plenty of casualties with obsolete cars piling up in cities. Read The Big Take. https://tinyurl.com/5e3fwh7b
Looking for insightful commentary and in-depth analyses on India? Sign up here https://bloom.bg/45jP1GP for our new India Edition newsletter to stay updated with the latest reportage on billionaires and businesses behind its rise. It's free to read.
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Xi's visit to South Africa: Chinese President Xi Jinping will attend the BRICS summit in South Africa next week, a rare journey abroad for the leader who has preferred to stay home this year amid mounting political problems. https://bloom.bg/47wqnVn
Senegal leader hunger strike: Senegalese opposition leader Ousmane Sonko, widely seen as the main challenger to the ruling coalition in presidential elections next year, has been hospitalized. https://bloom.bg/3P00NAS
Zimbabwe carbon credit regulations: Three months after Zimbabwe roiled the $2 billion carbon credit market by suddenly canceling projects and claiming half of all proceeds, the country now says it will accept a smaller share of revenue and has begun the process of reinstating scrapped projects. https://bloom.bg/45dF5Pv
Sign up here [https://bloom.bg/3OsOf3y] for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed. Next Africa publishes every Tuesday and Friday.
Senegal leader hunger strike: Senegalese opposition leader Ousmane Sonko, widely seen as the main challenger to the ruling coalition in presidential elections next year, has been hospitalized. https://bloom.bg/3P00NAS
Zimbabwe carbon credit regulations: Three months after Zimbabwe roiled the $2 billion carbon credit market by suddenly canceling projects and claiming half of all proceeds, the country now says it will accept a smaller share of revenue and has begun the process of reinstating scrapped projects. https://bloom.bg/45dF5Pv
Sign up here [https://bloom.bg/3OsOf3y] for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed. Next Africa publishes every Tuesday and Friday.
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Battery factory: Tata Sons is in discussions with multiple startups as the conglomerate seeks technical know-how for its $5.1 billion UK battery plant. https://tinyurl.com/55xprbyc
New world order: The world’s leading emerging market powers have complained for years about being sidelined by wealthy nations. Now they are mounting their most ambitious challenge yet to the status quo.
https://tinyurl.com/bp7b3jhj
Running it cold: Xi Jinping’s quest to rewrite the playbook that drove China’s economic miracle for a generation is facing its sternest test yet. Read The Big Take. https://tinyurl.com/5ec65xxm
Looking for insightful commentary and in-depth analyses on India? Sign up here https://bloom.bg/45jP1GP for our new India Edition newsletter to stay updated with the latest reportage on billionaires and businesses behind its rise. It's free to read.
New world order: The world’s leading emerging market powers have complained for years about being sidelined by wealthy nations. Now they are mounting their most ambitious challenge yet to the status quo.
https://tinyurl.com/bp7b3jhj
Running it cold: Xi Jinping’s quest to rewrite the playbook that drove China’s economic miracle for a generation is facing its sternest test yet. Read The Big Take. https://tinyurl.com/5ec65xxm
Looking for insightful commentary and in-depth analyses on India? Sign up here https://bloom.bg/45jP1GP for our new India Edition newsletter to stay updated with the latest reportage on billionaires and businesses behind its rise. It's free to read.
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BRICS expansion: South African President Cyril Ramaphosa expressed support for an expansion of the BRICS group of emerging market powers, which will gather for its annual summit in Johannesburg this week. https://bloom.bg/3OK4kSp
Somalia suspends social media: The Somali government has suspended TikTok, Telegram, and 1XBET, a gambling company, arguing that they are used by terrorists and groups that promote immorality in the East African country. https://bloom.bg/3P2u1iw
World Bank's decision to pause Uganda funding: Academic experts are questioning the role of the World Bank after its decision to halt new loans to Uganda following the introduction of harsh anti-LGBTQ laws in the country. https://bloom.bg/3E0PLVL
Sign up here [https://bloom.bg/3OsOf3y] for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed. Next Africa publishes every Tuesday and Friday.
Somalia suspends social media: The Somali government has suspended TikTok, Telegram, and 1XBET, a gambling company, arguing that they are used by terrorists and groups that promote immorality in the East African country. https://bloom.bg/3P2u1iw
World Bank's decision to pause Uganda funding: Academic experts are questioning the role of the World Bank after its decision to halt new loans to Uganda following the introduction of harsh anti-LGBTQ laws in the country. https://bloom.bg/3E0PLVL
Sign up here [https://bloom.bg/3OsOf3y] for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed. Next Africa publishes every Tuesday and Friday.
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Breaking News: Ex-property tycoon Srettha Thavisin will be Thailand's next prime minister, tasked to steer the $500 billion economy after months of political deadlock. https://trib.al/D0sCKMr
Super app: Asia’s richest man Mukesh Ambani wants to develop an Indian version of WeChat app, breaking ground in the country's $1.8 trillion financial sector. https://trib.al/PQzeRj1
Big Take: AI and deepfakes will drive $8 trillion in cybercrime and scams this year — and they’re coming after your parents. https://trib.al/HsJhM0i
Looking for insightful commentary and in-depth analyses on India? Sign up here https://bloom.bg/45jP1GP for our new India Edition newsletter to stay updated with the latest reportage on billionaires and businesses behind its rise. It's free to read.
Super app: Asia’s richest man Mukesh Ambani wants to develop an Indian version of WeChat app, breaking ground in the country's $1.8 trillion financial sector. https://trib.al/PQzeRj1
Big Take: AI and deepfakes will drive $8 trillion in cybercrime and scams this year — and they’re coming after your parents. https://trib.al/HsJhM0i
Looking for insightful commentary and in-depth analyses on India? Sign up here https://bloom.bg/45jP1GP for our new India Edition newsletter to stay updated with the latest reportage on billionaires and businesses behind its rise. It's free to read.
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BRICS to focus on reducing dollar reliance : Leaders of the BRICS nations will focus on ways to reduce dependence on the US dollar when they meet starting Tuesday, South Africa said. https://bloom.bg/3KO2MFG
Mozambique health workers strike: Mozambique’s public health services were paralyzed after medical workers such as nurses and pharmacists joined a month-long strike by doctors demanding better salaries and working conditions. https://bloom.bg/45G87an
Africa's largest startup IPO Plans: Flutterwave, Africa’s largest startup, is pressing ahead with plans for an IPO after making headway in resolving allegations of financial impropriety in Kenya. https://bloom.bg/3P5TQy9
Sign up here [https://bloom.bg/3OsOf3y] for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed. Next Africa publishes every Tuesday and Friday.
Mozambique health workers strike: Mozambique’s public health services were paralyzed after medical workers such as nurses and pharmacists joined a month-long strike by doctors demanding better salaries and working conditions. https://bloom.bg/45G87an
Africa's largest startup IPO Plans: Flutterwave, Africa’s largest startup, is pressing ahead with plans for an IPO after making headway in resolving allegations of financial impropriety in Kenya. https://bloom.bg/3P5TQy9
Sign up here [https://bloom.bg/3OsOf3y] for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed. Next Africa publishes every Tuesday and Friday.
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Moon race: India is set to become the first country to land a spacecraft near the moon’s south pole after Russia’s attempt at a lunar touch down in the same area ended in failure. https://rb.gy/ctway
BRICS latest: China publicly backed expansion of the BRICS bloc and used the annual gathering of emerging market powers to sound an upbeat note on the country’s economy. https://rb.gy/p5k9n
Big Take: In a remote, dusty corner of New Mexico, so near to the Texas border that if you wander too close your smartphone changes time zones, sits a pristine factory that is the best chance for the US to wean itself off an addiction that few knew it had: uranium enriched in Russia. https://shorturl.at/rzDSX
BRICS latest: China publicly backed expansion of the BRICS bloc and used the annual gathering of emerging market powers to sound an upbeat note on the country’s economy. https://rb.gy/p5k9n
Big Take: In a remote, dusty corner of New Mexico, so near to the Texas border that if you wander too close your smartphone changes time zones, sits a pristine factory that is the best chance for the US to wean itself off an addiction that few knew it had: uranium enriched in Russia. https://shorturl.at/rzDSX
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Kenya plans to revive railway line to Ethiopia: Kenya plans to begin construction in 2025 of a $13.8 billion high-speed electric railway from its Indian Ocean port of Lamu to Ethiopia and South Sudan. https://bloom.bg/3QM5krX
Dollar shift: BRICS members has agreed to hold more talks on how to reduce their reliance on the dollar, including bolstering direct use of their own currencies to trade, South African President Cyril Ramaphosa said. https://bloom.bg/3OL8SrM
Zimbabwe election voting: Zimbabweans began voting Wednesday amid high inflation and rampant poverty in an election that human rights groups say has been tainted from the get-go. https://bloom.bg/3E9FDtU
Sign up here [https://bloom.bg/3OsOf3y] for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed. Next Africa publishes every Tuesday and Friday.
Dollar shift: BRICS members has agreed to hold more talks on how to reduce their reliance on the dollar, including bolstering direct use of their own currencies to trade, South African President Cyril Ramaphosa said. https://bloom.bg/3OL8SrM
Zimbabwe election voting: Zimbabweans began voting Wednesday amid high inflation and rampant poverty in an election that human rights groups say has been tainted from the get-go. https://bloom.bg/3E9FDtU
Sign up here [https://bloom.bg/3OsOf3y] for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed. Next Africa publishes every Tuesday and Friday.
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Yevgeny Prigozhin, the man who led a mutiny against Russian President Vladimir Putin, is presumed dead in a private-jet crash, which eerily took place on the two-month anniversary of his rebellion. http://bloom.bg/3YN1ikS
Investigators began a probe into the causes of the crash. The jet was cruising straight and level from Moscow to St. Petersburg until it suddenly began behaving erratically and then dropped from the sky. US officials were quick to suggest Prigozhin may have faced Putin’s retribution. http://bloom.bg/44o5ubW
Here's a look at his rise from "Putin's chef" to mercenary leader of the Wagner Group: http://bloom.bg/3E7P8th
Investigators began a probe into the causes of the crash. The jet was cruising straight and level from Moscow to St. Petersburg until it suddenly began behaving erratically and then dropped from the sky. US officials were quick to suggest Prigozhin may have faced Putin’s retribution. http://bloom.bg/44o5ubW
Here's a look at his rise from "Putin's chef" to mercenary leader of the Wagner Group: http://bloom.bg/3E7P8th
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