IAG slumps to biggest loss in its history
The airline's full year operating loss after exceptional items was €7.4bn, its deepest loss since formation ten years ago. Engineer IMI posted a rise in annual profits as margin improvement countered sliding sales. Full-year results from the wealth manager showed assets under management grew 37 per cent to £58.7bn, with underlying profit up 10 per cent to £179m.
Yuval Noah Harari: The Covid year
But some kind of independent global health authority would be the ideal platform for compiling medical data, monitoring potential hazards, raising alarms and directing research and development. While there have been many instances of collaboration and generosity, no serious attempt was made to pool all the available resources, streamline global production and ensure equitable distribution of supplies. How can we summarise the Covid year from a broad historical perspective?
Rising interest rates cool sizzling rally in emerging markets
The rush into emerging market assets since the depths of the coronavirus crisis a year ago is facing its first serious test as rising US interest rates revive memories of the "taper tantrum" of 2013.Emerging market stocks sailed almost 90 per cent higher in US dollar terms from the nadir in March to a historic peak last week, according to MSCI's broad index of equities in 27 countries. But a sharp drop in developed-market government bond prices since the start of 2021 has sent borrowing costs sharply higher, and started to ripple into emerging markets. Before the pandemic, several factors were weighing against emerging markets: protectionism in the US and elsewhere, rising tensions between the US and China, the uncertainty over Brexit — all of which have been resolved, to a greater or lesser extent.
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TikTok owner ByteDance sues Tencent in China
Two of China’s most visible tech companies are going to court. On Tuesday, TikTok owner ByteDance sued Tencent, according to Bloomberg. ByteDance claims Tencent broke the country’s antitrust laws by blocking people from accessing content from Douyin on WeChat…
Spotify expands into 85 new markets
Spotify already has a solid foothold around the world, but it’s gearing up to grow even bigger. Over the coming days, the company confirmed (vaguely at first) plans to launch the platform in 85 new markets as part of a push to bring the service to “more than …
U.S. State Department says U.S. 'one-China' policy has not changed - Reuters
The U.S. State Department said on Wednesday its support of a "one-China" policy over Taiwan has not changed.
SoftBank-backed travel platform Klook raises $200M amid COVID-19
Klook, the Hong Kong-based travel activities platform backed by SoftBank Vision Fund, announced the closure of $200 million in funding for its Series E round, lifting the startup’s total capital raised to date to $720 million. Aspex Management, an investment …
North Korea: Russian diplomats leave by hand-pushed trolley
The diplomats had no choice as Pyongyang has banned trains from leaving as part of Covid measures.
Is high-speed rail travel on a track to nowhere?
The recently scrapped Singapore-Kuala Lumpur train link isn't the only such project to struggle.
Analysis: Can Asia help Myanmar find a way out of coup crisis?
While Western sanctions may not help, China and South East Asia's influence may have some sway.
China's Kingho ships first batch of iron ore from Sierra Leone's Tonkolili mine - Reuters
A ship carrying iron ore from west Africa's Tonkolili mine set sail for China from the Port of Pepel in Sierra Leone on Friday, China's official Xinhua news agency said.
REFILE-EMERGING MARKETS-Extended COVID-19 curbs dent Malaysia shares as broader market drops - Reuters
(Corrects date) * Graphic: World FX rates https://tmsnrt.rs/2RBWI5E * S. Korea won, stocks halt rally * Indonesia rupiah eases; benchmark bond yield rises * Philippines, Indonesia shares drop 1% * China markets to resume trade on Feb.18 By Anushka Trivedi Feb…
Cambodia launches COVID-19 vaccinations with shots for PM's sons, ministers - Reuters
Cambodia launched its coronavirus inoculation drive on Wednesday, using 600,000 vaccine doses donated by China, with the sons of long-serving Prime Minister Hun Sen and government ministers among the first recipients.
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