New deputy: A Kenyan court rejected a bid to block the appointment of President William Ruto’s new deputy. https://bloom.bg/4f4UfeR
Protests simmer: Mozambicans are bracing for more political turmoil following an opposition leader’s call for a week of protests against what he said was a rigged election. https://bloom.bg/3C6hvdP
Coal plans: South Africa has pledged to slash emissions from its fleet of coal-fired power plants to help secure $2.6 billion in climate finance. That’s despite seeking to change the terms of a 2022 agreement by delaying closing three of the facilities. https://bloom.bg/48tqxxr
Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/4hd94NP. Next Africa publishes every Tuesday and Friday
Debt weighs: South Africa’s budget update showed public finances are under increasing pressure, heightening the need for the new coalition government to lure more investment. https://bloom.bg/4e6evvh
Longer rule: Botswana's governing party is poised to extend its almost six-decade rule of the diamond-rich southern African nation against a divided opposition in today's election. https://bloom.bg/4fmmyVM
Fiscal crunch: Angola faces peak loan payments that require the oil-producing nation to use all of its fiscal revenue to pay salaries and to service debt, its finance minister said. https://bloom.bg/3C6OzT1
Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/4hd94NP. Next Africa publishes every Tuesday and Friday
No deal: South Africa’s antitrust tribunal prohibited Vodacom’s 13.2 billion-rand ($745 million) deal to buy a stake in the fiber business of Remgro, part-owned by billionaire Johann Rupert. https://bloom.bg/48t2FtN
Election tensions: Mozambican law-enforcement officials opened a criminal case against opposition leader Venâncio Mondlane after his supporters torched a police station in the wake of violent protests over claims of fraud in the Oct. 9 elections. https://bloom.bg/4fqLMCB
Budget preview: South Africa’s first budget update under a new coalition government on Wednesday will be closely watched for its resolve to control debt and expedite reforms to fire up the lackluster economy. https://bloom.bg/4fG4OFd
Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/4hd94NP. Next Africa publishes every Tuesday and Friday
Trade-tracking data show that an inconspicuous Mumbai-based pharma company, Shreya Life Sciences, is selling top-end Dell servers optimized for AI to Russia, underscoring holes in Western governments' attempts to shut off Moscow's access to tech with potential military applications.
The company is part of a lucrative trade that has the US and its European allies worried at India’s burgeoning role as an intermediary in the sales. Read the Big Take here: https://bloom.bg/4hm3mZY
📷: I-Hwa Cheng/Bloomberg
Climate activists may be predicting the beginning of the end for oil, but a meeting in Singapore tells a different story. That and more in this week's free Singapore Edition newsletter: https://bloom.bg/4fkS6eM
📷: Roslan Rahman/AFP via Getty Images
Marburg outbreak: Rwanda has identified the source of its first-ever outbreak of the highly virulent and deadly Marburg disease to fruit bats in a cave where mining was taking place. https://bloom.bg/4e3lBke
Africa's Growth: The IMF raised its economic growth forecast for sub-Saharan Africa next year to the highest since 2021, while warning that factors including social unrest create elevated uncertainty. https://bloom.bg/4e3WY6V
Inflation jumps: Zimbabwe's monthly inflation rate surged after a steep devaluation of its gold-backed ZiG currency stoked prices. https://bloom.bg/40gXwDa
Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/4hd94NP. Next Africa publishes every Tuesday and Friday
Chef Paik Jong-won, a judge on Netflix's hit show Culinary Class Wars, is now $215 million richer after listing his restaurant chain — and helping boost Korea's struggling IPO market. Read more: https://bloom.bg/4eTQxof
📷: Netflix
Singapore's Changi Airport can now process passengers through immigration in as little as 10 seconds, thanks to futuristic technology like facial recognition and iris biometrics. Read more: https://bloom.bg/3C7IsO4
📷: Nicky Loh/Bloomberg
Mozambique election: The country's ruling-party candidate was declared the winner of presidential elections by a landslide as tensions over fraud claims put the southeast African nation on edge. https://bloom.bg/4eVjL6d
Somalia, Ethiopia relations: Somalia wants the African Union and United Nations to exclude Ethiopian soldiers from a peacekeeping force fighting al-Qaeda-linked rebels amid tensions between the Horn of Africa neighbors. https://bloom.bg/3BZ31fN
Defending currency: Kenyan policymakers are ready to use record foreign reserves to defend the shilling after its world-beating gains this year, Central Bank Governor Kamau Thugge says. https://bloom.bg/4e2EiEB
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BREAKING: Boeing workers reject a new labor contract, extending a strike that's crippled production for nearly six weeks. Read more here: https://bloom.bg/4eUIMOU
📷: David Ryder/Bloomberg
Rivian has won fans for its $100,000 EVs, but interviews with factory workers and a review of US Occupational Safety and Health Administration citations show serious safety issues at its only US plant https://bloom.bg/4dSPvaR
📷: Lee Klafczynski /Bloomberg
Flash point: Time is running out to bring Mozambique back from the brink as a funeral for slain opposition officials and the release of election results coincide. https://bloom.bg/4eTzmmz
Newer mpox strain: Girls and young women may be more vulnerable to an infectious version of the virus that causes mpox that's spread from Democratic Republic of Congo to neighboring countries, a study showed. https://bloom.bg/3YyOAb9
Office relocation: Taiwan says it will not move its representative office from Pretoria, South Africa’s administrative capital, after accusing Beijing of pressuring the African nation to ask for a relocation. https://bloom.bg/3NA848T
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HSBC announced the appointment of Pam Kaur as chief financial officer, making her the first female finance director in its 159-year history.
This was part of a broad restructuring across different business lines and geographies as the newly appointed CEO Georges Elhedery embarks on ambitious cost cuts. Read more on their biggest overhaul: https://bloom.bg/3YxNpso
📷: HSBC Holdings Plc
Singapore has seen a recent influx of Chinese restaurants and drinks chains, triggering fierce competition in the local food scene. Read more in this week's free Singapore Edition newsletter: https://bloom.bg/4eOTVR4
📷: Bryan van der Beek/Bloomberg
🚨 Indian markets have never been hotter amid a record infrastructure push in the world's fastest-growing major economy. Ambitions to grow rapidly put a spotlight on how to finance the boom.
Follow our blog for the latest from #BloombergIndiaCreditForum ⬇️ https://bloom.bg/48eopJT
🎙 The world is increasingly driving cars and using phones made in China — despite US efforts to keep China’s tech from getting ahead.
What went wrong? Listen to the Big Take Asia podcast https://link.podtrac.com/jxfy2rhy
The world is increasingly driving Chinese EVs, scrolling the web on Chinese smartphones and powering their homes with Chinese solar panels, and the US is struggling to stop it.
New research by Bloomberg shows that Made in China 2025 — an industrial policy blueprint unveiled a decade ago — has largely been a success. Read The Big Take here: https://bloom.bg/3CdRoS2
Dollar phase-out: Zimbabwe's ruling party decided at its annual conference to make the gold-backed ZiG the only legal currency in the country, phasing out use of the US dollar. https://bloom.bg/40nfJPI
Renewed protests: Mozambican opposition leader Venâncio Mondlane warned of "very difficult days" ahead, including more protests, as he plots a new phase in his dispute over election results he described as fraudulent. https://bloom.bg/3CbgFMF
Africa's biggest IPO: South Africa’s Pick n Pay plans to list its low-cost Boxer business on the Johannesburg exchange by the end of the year, seeking to raise $452 million in what will be the continent’s biggest offering this year. https://bloom.bg/4fEAmLF
Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/4hd94NP. Next Africa publishes every Tuesday and Friday
Japan faces political instability after the ruling LDP coalition lost a majority in parliament for the first time since 2009. Follow our blog for all the news, market reaction and analysis https://bloom.bg/48lKDd9
📷: Toru Hanai/Bloomberg
Israel struck military targets in the Iranian capital Tehran early Saturday, fulfilling Prime Minister Benjamin Netanyahu’s pledge to retaliate for an Oct. 1 ballistic-missile barrage. Latest updates: https://bloom.bg/3A3r5O5
📷: Amir Levy/Getty Images Europe
Elon Musk gave another $56 million to elect Donald Trump and other Republicans in the final weeks of the 2024 election, bringing to at least $132 million the amount spent by the world’s richest person to elevate his allies to the White House and Congress, federal filings show: https://bloom.bg/3NJ33e4
📷: Justin Merriman/Bloomberg
Microsoft Chief Executive Officer Satya Nadella received a pay package worth $79.1 million for fiscal 2024, a 63% increase from the prior year, as the software maker worked to extend its strong position in artificial intelligence tools: https://bloom.bg/48i4Z6Z
📷: Chris Ratcliffe/Bloomberg
Elon Musk added $33.5 billion to his net worth on Thursday, as Tesla shares posted their biggest gain in more than a decade after the automaker reported its largest quarterly profit since the summer of 2023: https://bloom.bg/4dY0tvz
📷: Tolga Akmen/EPA
After a 2020 border clash killed at least 20 Indian soldiers, Narendra Modi took a range of steps to block investment from China, even going further than the US in some areas. Now there’s a recognition in New Delhi that he may have gone too far: https://bloom.bg/4e1TaDh
📷: Ministry of Information and Broadcasting, Government of India/AP Photos
Flooding in Africa: Floods that killed over 1,000 people this year across Africa’s Sahel region will become more frequent due to climate change, scientists say. https://bloom.bg/3AlXSOd
Interest rates: Ethiopia will keep interest rates high for the rest of the year to combat transitory inflation caused by an overhaul of its foreign exchange policy, says central bank Governor Mamo E. Mihretu. https://bloom.bg/3YiVBLL
Jail release: The Nigerian government dropped charges against a Binance executive who'd been detained since February. https://bloom.bg/3YhKAKD
Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/4hd94NP. Next Africa publishes every Tuesday and Friday
🎙 How a small battery company became a global EV giant, challenging the likes of Elon Musk’s Tesla — and where BYD plans to go from here — on the Big Take Asia podcast. https://link.podtrac.com/jxfy2rhy
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Billionaire businessman Adar Poonawalla’s Serene Productions will invest 10 billion rupees ($119 million) in Indian producer Karan Johar’s Dharma Productions and Dharmatic Entertainment, the maker of blockbuster Bollywood movies.
Johar’s studio has produced hits like “Kuch Kuch Hota Hai” and “Kabhi Khushi Kabhi Gham” which starred superstars like Shahrukh Khan and Amitabh Bachchan. Read more here: https://bloom.bg/40dHs57
📷: Dhiraj Singh/Bloomberg
📷: Tommaso Boddi/Getty Images for Gold House
Hyundai is making its trading debut in India after a $3.3 billion IPO — the country's largest listing ever.
Follow our live blog for the latest news and analysis: https://bloom.bg/3NxicPI
📷: Anindito Mukherjee/Bloomberg
Gachagua removal: Kenya’s High Court suspended a parliamentary resolution to impeach Deputy President Rigathi Gachagua and halted the process of replacing him on Friday, less than an hour after the National Assembly approved President William Ruto’s choice of a successor. https://bloom.bg/3Y9FujI
Capital chaos: Over a million people in South Sudan’s capital of Juba are grappling with a lack of power, running water, salaries and medicine as the nation’s key source of cash dries up. https://bloom.bg/3UdDhCH
Water crisis: South Africa’s biggest companies are exploring widening a partnership with the government to help resolve a water crisis that’s threatening to leave the nation’s commercial hub dry. https://bloom.bg/3Yeg6Jq
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
Gold topped $2,700 an ounce for the first time, as concerns over escalating conflicts in the Middle East and a tight US election race prompt investors to flock to safety. Read more: https://bloom.bg/4hoH9L9
📷: Chalinee Thirasupa/Bloomberg
