Turkey’s central bank demoted at least nine high-ranking officials including chief economist Hakan Kara, two officials said. The bank’s heads of research, banking, risk management and institutional transformation are among those who are getting new roles. This comes after Recep Tayyip Erdogan fired the governor last month for not cutting rates fast enough. Source: Reuters, Bloomberg
- Diplomat Wu Ken warns ‘there will be consequences’ if the Chinese telecoms giant is excluded and floats possibility of German cars being banned on safety grounds
- German politicians are seeking to pass a bill to exclude ‘untrustworthy’ firms from 5G network amid ongoing security fears surrounding company
China’s auto sales sank 5.4% in November from a year earlier, putting the industry’s biggest global market on track to shrink for a second year. Source: CityNews
The business mood of Japan’s big manufacturers sank to a near seven-year low in the fourth quarter, a closely watched central bank survey showed, as the U.S.-China trade war and soft global demand weighed on the export-reliant economy. Source Japan Times
