China woes: Apple's disappointing holiday-quarter outlook has cast a spotlight on its mounting problems in China, where the iPhone maker is struggling with the unexpected rise of Huawei and an increasingly hostile business environment. https://tinyurl.com/2vybev8p

World's most toxic air: Children in New Delhi will skip school for the rest of this week as the government enforced emergency measures to protect the youngest from off-the-charts toxic air. https://tinyurl.com/atnyvkr6

Exclusive: Saudi Arabia has expressed interest in buying a multibillion-dollar stake in the Indian Premier League, cricket’s most lucrative event, following a string of investments that have upended professional sports including football and golf. https://tinyurl.com/2ed637xv

Watch: In the mini-documentary How the US Can Rival China in Africa, we show how the energy transition is fueling a new struggle between Washington and Beijing. https://tinyurl.com/ms9n2wct

US and Africa trade: The US will aim to ensure that its preferential trade pact with Africa is replaced without interruption when it expires in two-year’s time, while bringing it up to date. https://bloom.bg/3QGhnqf

Top South Africa bank praises budget cuts: Standard Bank praised the South African government’s decision to pare back spending in this week’s budget update, while calling for the speedier implementation of reforms to kick-start economic growth. https://bloom.bg/3SrPNhQ

Skype, Flutterwave founders back African tech fund: Norrsken, an Africa-focused venture capital firm, received the backing of more than 30 unicorn founders and institutions to raise $205 million for new tech investments on the continent. https://bloom.bg/3QqPi4Y

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.

India has long been a home for Asia’s top billionaires, but a new class of wealthy entrepreneurs, executives and dealmakers are now broadening the country's luxury market.

Every year, fresh private members clubs are opening in Mumbai, a city with more people worth $100 million than Monaco, and as many billionaires as Singapore. As China’s growth plateaus and Beijing cracks down on its billionaire class, India is positioning itself as Asia’s next hot spot for luxury spending.

“Luxury is no longer limited to a niche set of the super wealthy,” says Vijay KG, founder of luxury shop Luxepolis. “Everyone wants a piece.” Read more about the rise in conspicuous consumption in one of the world’s fastest-growing countries for people with $100 million in wealth. https://trib.al/fw424T1

In Lakhneke, a village in Pakistan’s eastern Punjab province, tangled wires hang from a power line, a tell-tale sign of electricity theft — a problem that’s costing the South Asian nation nearly a billion dollars a year.

These illegal connections are now the target of an extensive crackdown as the government tries to steer the economy out of crisis. Read to learn how the measures risk stoking widespread public anger in a country already on edge following the ouster and arrest of Imran Khan, the former prime minister and national cricket hero. https://trib.al/AlkDHZ6

Jacinda Ardern, who is in Singapore to award the Earthshot Prize, speaks on Bloomberg TV on technology's role in tackling climate change.

Bloomberg LP and Bloomberg Philanthropies are members of the alliance backing the Earthshot Prize https://trib.al/vbpGfWS

In the chawls of Mumbai you can rent a home for as little as $1 a month. But as India's financial capital changes, one of the city’s most important forms of affordable housing is disappearing.

Century-old buildings are earmarked for demolition as Mumbai undergoes rapid development, signaling two transformative trends: the disappearance of affordable housing from Mumbai’s downtown, where chawls are overwhelmingly concentrated, and the end of its tradition of mingling the rich and poor in the same tight-knit neighborhoods.

Read to see how chawls helped make Mumbai a megacity. https://trib.al/3YuwSdj

Biggest rally since 2020: South Korean stocks surged following the nation’s move to reimpose a full ban on short-selling for about eight months. https://trib.al/Tt1dO9f

Asia in focus: Blackstone expects India and Japan to be its most active markets in Asia next year based on capital allocation, according to the firm’s head of private equity. https://trib.al/iljqaAK

AI pioneer: A Chinese startup founded by computer scientist Kai-Fu Lee has become a unicorn in less than eight months on the strength of a new open-source artificial-intelligence model that outstrips Silicon Valley’s best, on at least certain metrics. https://shorturl.at/hjzP9

Jacinda Ardern, who is in Singapore to award the Earthshot Prize, says the responsibility of tackling climate change shouldn't rest on world leaders alone.

Bloomberg LP and Bloomberg Philanthropies are members of the alliance backing the Earthshot Prize https://trib.al/ZWnjuDL

South Africa needs skilled workers fast. But Cyril Ramaphosa's government stands accused of moving too slowly to hand out visas to outsiders.

It can almost take almost a year to win work and residence permits. Many applicants either "give up or go somewhere else," says one top former official.

The problem is so acute it’s driving some foreign investors out of one of the world’s most unequal nations.

Read more: https://bloom.bg/3Ss31ee

And watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

An abrupt decision to end fuel subsidies is both jump-starting a solar future and making electricity more expensive in Lagos, Nigeria.

A federal law passed in June paves the way for the work to start in providing all of Lagos residents with reliable electricity by the end of 2036.

If all proceeds according to plan, fossil fuel generators will go from the city’s main source of power today to total elimination.

Read more: https://bloom.bg/40ujQaH

And watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

Rockstar Games plans to announce the next highly anticipated Grand Theft Auto game as early as this week, sources say.

The company, a division of Take-Two Interactive Software, plans to then publish a trailer for Grand Theft Auto VI next month to celebrate Rockstar’s 25th anniversary, said the people, who asked to not be identified because they weren’t authorized to speak publicly.

No video game has driven more fervor from fans and investors than Grand Theft Auto VI, which is expected to be one of the most significant entertainment releases of the decade. https://trib.al/w5kH5fN

Natural disasters: South Africa classified floods and storms that hit three coastal provinces in September and October as national disasters. https://bloom.bg/471r9sx

Pending downgrade: Kenya’s currency weakened by the most in four months after Fitch Ratings said it may downgrade the nation’s credit rating. https://bloom.bg/3MDJWSH

Debt extension: Transnet rolled over $381 million of debt due this week until March, giving the South African state-owned port and rail company relief for four months. https://bloom.bg/3QNSfOd

And watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

Hello, here's the latest from Bloomberg's New Economy Forum in Singapore 👇

🇨🇳 Xi Jinping's move to rule “for life” has caused problems for both China and its relations with the US, Hillary Clinton said in an interview with Bloomberg News Editor-in-Chief John Micklethwait. https://trib.al/yWbrebL

🇸🇬 Singapore’s Prime Minister Lee Hsien Loong downplayed the likelihood of an imminent conflict over Taiwan, saying China isn’t “trigger happy” about taking over the self-governing island it has long viewed as its territory. https://trib.al/clU9LRV

🌏 Citadel founder Ken Griffin said the world is being pushed towards de-globalization due to the unrest and structural changes. https://trib.al/K9nUf0n

Record drop: Zambia’s kwacha fell to a record low against the US dollar days before new central bank measures take effect. https://bloom.bg/3QRIL4z

New oil plant: The full ramp up of Africa’s largest oil refinery, a landmark moment for crude and fuel markets both regionally and beyond, is still a long way off. https://bloom.bg/3MAFcx3

Return to profit: Safaricom, Kenya’s biggest company by market value, reported a profit increase for the first time in two years. https://bloom.bg/49uMUCP

And watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

Exclusive: Eyedrops pulled from Walmart, CVS and Target shelves were traced to an Indian factory where workers went barefoot and made up test results. https://tinyurl.com/yc7dd55b

True shock: The world's biggest bank ICBC was forced to clear trades via a USB stick after being hit by a cyberattack. https://trib.al/8N51YlT

Week 5: Toxic air continues to cast a hazy pall over the Cricket World Cup. Here are the winners and losers from the penultimate week of the tournament. https://trib.al/5WjH5wk

India Edition: Saudi Arabia's multibillion-dollar investment offer could be an opportunity to reimagine Indian cricket and IPL. https://tinyurl.com/yz6dpak3

Looking for insightful commentary and in-depth analyses on India? Sign up here for our weekly newsletter to stay updated with the latest reportage on billionaires and businesses behind its rise.

Pre-elections debate: The secretary general of South Africa’s ruling African National Congress blamed apartheid for the country’s manifold problems and warned against coalitions in a debate with opposition leaders. https://bloom.bg/47nQLzO

IMF Questions: Zambia’s official creditors and the IMF have expressed reservations about a deal in principle the government announced last month to restructure $3 billion in eurobonds. https://bloom.bg/3QQvdq8

New airport: Angolan President Joao Lourenco opened a long-delayed international airport outside the capital Luanda, with passenger flights scheduled to begin in early 2024. https://bloom.bg/3ub5HDb

And watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

Exclusive: Boeing may finally see a sales breakthrough for its 737 Max aircraft in China, ending a long commercial freeze in a critical overseas market for the US planemaker. https://trib.al/TuZGfXd

Safety Measures: Thailand is considering a plan to station Chinese police personnel at some tourist destinations to lift the confidence of travelers from the Asian neighbor, but the move has sparked a controversy. https://trib.al/Go28hiK

Big Take: Can the always-at-odds leaders of the world’s two biggest economies lay the groundwork for a more amicable way forward when they meet in San Francisco? Here's everything Biden and Xi need from their summit — starting with each other. https://trib.al/4Di9bM5

South Africa farm-export rules: South Africa’s government rejected reports that new regulations have been introduced to restrict farm-export quotas based on race. https://bloom.bg/40A1tks

EgyptAir to expand fleet: The North African airline is set to receive 18 Boeing 737 Max 8 aircraft, adding more narrowbody jets to the state-owned airline’s planes, according to people familiar with the matter. https://bloom.bg/46k5rza

Nigeria seeks to lure investments: Africa's top oil producer will boost incentives for foreign investors in an attempt to address a decline in capital coming into the country. https://bloom.bg/46k5Z8c

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. And watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

Liberia election: Liberians head back to the polls on Tuesday to choose either President George Weah or ex-vice president Joseph Boakai as their next leader. https://bloom.bg/3soz30p

South Africa employment: The sub-Saharan African nation's employment rose above the level it was before the pandemic struck, as finance and community and social service sectors added jobs. https://bloom.bg/3QBrv2f

Nigerian labor strikes: The West African nation's government has warned the country’s labor unions not to go ahead with a strike on Tuesday called in response to a police assault on one of their leaders. https://bloom.bg/47nswlk

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. And watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

BREAKING: Israel forces say they are carrying out a “precise and targeted operation” against Hamas at Gaza's main hospital. A health ministry official at the Al-Shifa hospital told Bloomberg that Israeli tanks were at the gates of the complex.

Israeli and US authorities say Hamas and other Iran-backed militant groups are using hospitals, including Al-Shifa, to conceal and support their operations. Hamas has denied that claim. Follow the latest: https://trib.al/4y6MmDT

Nigerian bonds: A reopening of Nigeria’s longest-dated bond was oversubscribed by more than three times at an auction on Monday as investors swooped on the issue’s record yield.  https://bloom.bg/49z3QIu

UK's Rwanda asylum plan: Rishi Sunak’s controversial policy to deport asylum seekers to Rwanda was ruled unlawful by the nation’s highest court. https://bloom.bg/3MLhtdQ

Ethiopian Airlines and Airbus deal: The European planemaker reached a preliminary agreement to sell widebody aircraft to Ethiopia's flagship carrier, giving Airbus a late boost at the Dubai Air Show. https://bloom.bg/46kYEVz

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. And watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz