Latvian Finance Ministry Seeks to Impose 20% Annual Bank Tax
Latvia may raise about €140 million ($153 million) in additional tax revenue next year under a proposal that would force banks to pay taxes annually, instead of when they pay out dividends. #press
JPMorgan Sees ‘Vicious Cycle’ as Top China Trust Misses Payment
Missed payments on multiple high-yield investment products by a major Chinese shadow lender may trigger a “vicious cycle” for property developers’ financing and more delinquencies for trust products, JPMorgan Chase & Co. warns. #press
First Look With Surveillance: China Weakens, Goldman Expects
Kriti Gupta takes you through what to watch today.
(Source: Bloomberg) #press
India’s July Trade Gap Widens as Weak Demand Drags on Exports #press
Dutch F-16s Deployed as Russian Jets Flew Toward NATO Airspace
The Netherlands and Denmark deployed F-16 fighter jets Monday as two Russian bombers approached NATO airspace over the North Sea. The Russian planes turned back after being identified and never left international airspace. #press
Putin’s Key Aide Blames Central Bank for Weaker Ruble, Inflation
Kremlin economic aide Maxim Oreshkin blamed the central bank for contributing to declines in the ruble, an unusual rebuke made public just moments before the Russian currency broke through 100 to the dollar for the first time since March last year. #press
Oil Exports Rise During Sudan War as Pipeline Left Unscathed
Oil exports from Sudan rose even amid fighting between a paramilitary group and the army, as crude production from South Sudan that fills the line holds steady. #press
Sasol Slumps as It Flags Profit Hit From South African Snarl-Ups
Sasol Ltd. shares dropped the most in five months after the fuels and chemicals producer said the poor performance of South Africa’s state-owned companies has affected its business and is expected to result in lower earnings. #press
How Economic Complexity Explains Which Countries Become Rich
A podcast episode for anyone addicted to Tradle. #press
China Sets Up Task Force After Top Wealth Manager Misses Payment
China’s banking regulator has set up a task force to examine risks at Zhongzhi Enterprise Group Co., one of the nation’s top private wealth managers, after a unit missed payments on multiple high-yield investment products. #press
Country Garden Seeks to Extend Maturing Bond in First for Firm
Chinese developer Country Garden Holdings Co. is seeking to extend a maturing bond for the first time, in a sign of increasing urgency amid a worsening cash crunch that’s exacerbating the country’s broader property debt crisis. #press
Dubai-Based Shuaa Capital’s Top Investors Are Exploring Sale
Shuaa Capital PSC’s main shareholders are in early-stage talks to sell down their stakes in the Dubai-based investment bank, offering potential buyers access to one of the Gulf region’s oldest financial institutions. #press
European Stocks Subdued as China Worries Dent Risk Sentiment
Trading in European stocks was muted on Monday as investors weighed signs of trouble in the Chinese property market before turning their attention to Federal Reserve policy minutes later in the week. #press
Bloomberg Daybreak: Asia 08/14/2023
Paul Allen in Sydney and Shery Ahn in New York drive to the Asia, Australia and New Zealand market opens while wrapping the biggest stories of the previous day on Wall Street. Today's guests: Qontigo Head of APAC Applied Research Olivier d'Assier, Jefferies Head of China Financial & Property Research Shujin Chen, Oxford Economics Lead... #press
Sony Deal Spurs Hopes for More Gains in India’s No.1 Media Stock
Zee Entertainment Enterprises Ltd. may see further gains in its stock price as investors bet the Indian media company’s merger with a unit of Sony Group Corp. will boost its revenue and earnings. #press
Bloomberg Daybreak: Middle East & Africa 08/14/2023
Daybreak Middle East & Africa is your daily spotlight on one of the world's fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong... #press
Swedes Signal Optimisim on Home Prices for Third Straight Month
The outlook for Sweden’s residential property market climbed into positive territory for a third consecutive month, according to a survey from the country’s largest bank. #press
Brevan Howard Hires New Mideast CEO From Ares
Brevan Howard Asset Management has appointed Oualid Lahsini as chief executive officer of its Middle East business. #press
Yen Hovers Around 145 Level
The yen slid to its weakest in nine months as Japan’s interest rate gap with the US pushes the currency toward levels that last year saw intervention by authorities in Tokyo. David Finnerty reports on Bloomberg Television. (Source: Bloomberg) #press
Treasury Yields Inch Toward New High for Year on Inflation Woes
Treasury yields began the week on the back foot, edging up toward levels last seen in November as inflation jitters curb the demand for US debt. #press
