Bloomberg Business

Exports via a major pipeline, which delivers natural gas to mainland Europe from the UK through Belgium, have been shut due to an equipment failure.

(Bloomberg) —

(Bloomberg) —

China said its defense spending would grow by 7.2% this year — the fastest pace since 2019 amid increasing tensions with the US on a range of issues, including Taiwan.

China largely kept its language regarding Taiwan the same in an annual report to the nation’s legislature, suggesting that President Xi Jinping is maintaining its policy toward the self-ruled island even as global tensions increase.

China’s economic growth target for 2023 is a conservative goal that suggests the government is wary of challenges that may weigh on the economy and wants to account for risks to a recovery that is steadily building momentum.

China’s central government is planning to increase borrowing by almost a fifth this year to finance a slightly bigger budget deficit, helping to reduce pressure on debt-laden local governments.

European Central Bank is set to raise borrowing costs by another half point at its March decision, according to President Christine Lagarde.

China will push to increase grain production capacity by 50 million tons under the nation’s drive to bolster food security and meet rising demand.

Thailand spent a total of 444 billion baht ($12.8 billion) on public health during the three years of the pandemic to contain the spread of Covid-19 and vaccinate its population, according to the Ministry of Public Health.