China’s budget deficit jumped to a record $1.3 trillion last year, showing the strain put on local government finances by the spending needed to implement and offset the ultimately futile Covid Zero policy.
After a $68 billion rout in Adani Group shares that has helped make India’s stock market the worst performer in Asia this year, investors are looking to government spending to spark a rebound.
Cnooc Ltd. has paused a planned sale of its UK North Sea portfolio, which could have been valued at as much as $3 billion in a deal, according to people familiar with the matter.
China’s manufacturing and services expanded for the first time in four months in January as the reopening from Covid Zero continued and the Lunar New Year holiday spurred travel and spending.
Adani Group companies rebounded in the dollar bond market after some dropped to record lows the day before, following a vote of confidence in the Indian conglomerate from Abu Dhabi’s International Holding Co.
Hong Kong’s leader dismissed calls for an independent commission to look into the city’s handling of the Covid pandemic.
NATO Secretary-General Jens Stoltenberg is set to meet Japanese Prime Minister Fumio Kishida on an Asian tour that has sparked suspicion in China, which is wary of the group’s efforts to build ties with its neighbors.
This is meant to be the year global inflation retreats back to target. A boost to demand as China exits Covid lockdowns might keep it higher for longer.
Australian retail sales declined for the first time in 2022 in December, suggesting consumers are beginning to rein in spending in response to rapid inflation and rising interest rates.
Samsung Electronics Co., the world’s biggest smartphone maker, expects the smartphone market to contract in 2023.
