Bloomberg

2023-09-29 16:17:28 Debt forgiveness: UBS is in talks with the Mozambican government to forgive as much as $100 million of debt as part of a settlement over Credit Suisse’s role in a financing scandal in the African nation. https://bloom.bg/3PD8RGB

South Africa-Kenya climate stance divide: Kenyan President William Ruto is preaching self-reliance and investment, while South Africa’s Cyril Ramaphosa is extending the begging bowl and chastising the rich world. Read more: https://bloom.bg/3PzMMcg

Coup bonds: The coup in Gabon that ousted a key French ally in Africa shook up bond investors by destabilizing one of the region’s few international borrowers. https://bloom.bg/456MizP

Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday. Open / Comment

2023-09-29 14:30:12 As the Paris Fashion Week unfolds this week, pressure is growing for brands like Dior to do more to recognize the highly skilled artisans in Mumbai and suppliers elsewhere — the hidden hands shaping red carpet looks for Cannes and the Met Gala, and gowns worn by celebrities. https://trib.al/95yNLyc

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2023-09-29 12:42:34 Diplomatic row: US Secretary of State Antony Blinken met with his Indian counterpart as tensions between two of Washington’s key allies, Canada and India, grow over the killing of a Sikh leader. https://tinyurl.com/mr2weuww

New hire: Ambani's JioCinema plans to appoint former Google general manager as CEO, sources say, leading the streaming service's efforts to broaden its reach among mobile customers. https://tinyurl.com/5es8yucz

Falling beer sales: Vietnam’s sluggish economy is hitting many where it hurts the most: their thirst for beer. https://tinyurl.com/ycxjtcd3 Open / Comment

2023-09-28 14:31:14 The rivalry between Asia’s two biggest countries has gone extraterrestrial.

After India landed its Chandrayaan-3 rover on the moon last month — becoming the first country to put a spacecraft near the lunar south pole, and breaking China’s record for the southernmost lunar landing — a top Chinese scientist says claims about the accomplishment are overstated.

Ouyang Ziyuan, lauded as the father of China’s lunar exploration program, told a science newspaper the rover actually landed 619 kilometers (385 miles) from the polar region. Read more here: https://trib.al/Tqqa3Kq Open / Comment

2023-09-28 11:56:33 Trading halt: Chinese property giant Evergrande and its units suspended trading in Hong Kong, a day after its founder was placed under police control. https://trib.al/KdSyhcg

Here’s all you need to know about the rise and fall of its detained rags-to-riches founder Hui Ka Yan. https://trib.al/MLIgSPz

Apple woes: Some of the first owners of Apple’s iPhone 15 Pro and Pro Max are complaining that the new devices get too hot during use or while charging. https://trib.al/VtuoOWT

Free to read: Does the India-Canada clash benefit China the most? Here's what’s at stake for India after the political standoff with Canada. https://trib.al/FpwgRz6

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2023-09-27 18:56:53 Digital rupee: The Bank of Mauritius said plans to launch a central bank digital currency are making strides and it will begin a pilot project. https://bloom.bg/3ZvTVyM

Forex blunders: The Kenyan shilling’s sharp slide against the dollar follows years of policy missteps at the central bank, according to the treasury secretary. https://bloom.bg/3ZyrjVy

Stats chief arrested: The Zimbabwe Anti-Corruption Commission arrested the head of the national statistics agency over allegations of corruption and corporate misconduct. https://bloom.bg/458ekuL

Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday. Open / Comment

2023-09-27 09:17:09 India’s top diplomat accused Trudeau’s government of not taking action against extremists living in Canada because it was politically inconvenient. https://tinyurl.com/yxudpmmb

Here's how the diplomatic standoff threatens to spill over into their economies. https://tinyurl.com/5n8jwbv6

China's gold market is commanding a record premium over international prices as a weakening yuan and a property crisis spark a flight to safe assets. https://tinyurl.com/28sfmuy4 Open / Comment

2023-09-26 18:56:47 Naira’s new low: Nigeria’s currency fell to the psychologically important threshold of 1,000 per dollar on the parallel market on Tuesday as lawmakers prepared to vet Olayemi Michael Cardoso as the new head of the nation’s central bank. https://bloom.bg/3talOQZ

Energy transition challenges: South Africa’s main coal producing province of Mpumalanga, the focus of the country’s $8.5 billion Just Energy Transition Partnership, has received no government funding to help workers and communities find alternative livelihoods. https://bloom.bg/3PRZK6p

Anti-LGBTQ law impact: Uganda expects the World Bank to rescind a decision to halt new loans because of its passage of anti-LGBTQ legislation before it concludes budgeting for the next fiscal year. https://bloom.bg/3RBOZX9

Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday. Open / Comment

2023-09-26 13:30:27 With millions of Indians pursuing careers abroad and sending cash home to their parents, families have money to spend but can no longer depend on their offspring to care for them as they age. That has sparked a boom in retirement communities.

Compared to Japan and the UK, India's retiree industry is still in its infancy, but is expanding aggressively. Retirement communities in India have increased to roughly 60 from 36 in 2020, and the market is expected to expand at 10% annually over the next five years. Read more: https://trib.al/ZcwNUfa

Free to read: Looking for insightful commentary and in-depth analyses on India? Sign up here [ https://bloom.bg/3qEX2rh ] for our weekly newsletter to stay updated with the latest reportage on billionaires and businesses behind its rise. Open / Comment

2023-09-26 09:45:39 Tailwinds: JPMorgan CEO Jamie Dimon in an interview says optimism on India is "completely justified." Click to find out more. https://tinyurl.com/bd99kfbh

He also warned the world may not be prepared for a worst-case scenario of Federal Reserve interest rates hitting 7% along with stagflation. https://tinyurl.com/du5t92mj

Hiring trends: The year after Black Lives Matter protests, the S&P 100 added more than 300,000 jobs — 94% went to people of color. Read The Big Take. https://tinyurl.com/4rdpysk3 Open / Comment