IMF Chief Georgieva Warns of ‘Tough Year’ for World Economy
International Monetary Fund Managing Director Kristalina Georgieva warned that the global economy faces “a tough year, tougher than the year we leave behind.”
Bloomberg Business
Dubai Ends Hefty Alcohol Tax to Boost Business and Tourism
Dubai kicked off the new year by scrapping a 30% tax on alcohol sales and making liquor licenses free, in an apparent move to bolster its status as the Middle East’s leading business and tourism hub.
Helicopter Collision Near Australia Theme Park Leaves 4 Dead
Four people have died and three are critically injured after a mid-air collision involving two helicopters near the Sea World theme park on Australia’s Gold Coast.
ECB Raises Deutsche Bank Capital Bar in Leveraged Loan Crackdown
Deutsche Bank AG confirmed it faces a higher capital requirement as its main regulator pushes lenders to dial back the risks they face in the lucrative business of leveraged finance.
New China Foreign Minister Seeks Better US Ties in Blinken Call
New Chinese Foreign Minister Qin Gang sought better Sino-US ties in a phone conversation with Secretary of State Antony Blinken on New Year’s Day, according to a statement from the Ministry of Foreign Affairs in Beijing.
India Unemployment Rate Surges to 16-Month High, CMIE Data Shows
India’s unemployment rate rose to a 16-month high in December as job creation in the slowing economy failed to keep pace with the growing workforce.
US Is in Recession ‘By Any Definition’, Michael Burry Says
Scion Asset Management founder Michael Burry said while inflation has peaked, it is likely to pick up again in response to government stimulus.
Indonesia’s Inflation Beats Highest Forecast in Challenge to Rate Outlook
Indonesia’s inflation surprised on the upside in December, challenging the central bank and market’s view that price pressures were well on the wane.
South Korea Asks US for Greater Role in Managing Nuclear Weapons
South Korean President Yoon Suk Yeol said his government is in talks with the US on taking a more active role in managing nuclear weapons on the Korean Peninsula, which would mark a significant shift in a decades-old policy among American allies to deter North Korea.
Xi Warns of Tough Covid Fight, Acknowledges Divisions in China
President Xi Jinping said tough challenges remain in China’s fight against Covid-19 and acknowledged divisions in society that led to rare spontaneous protests, after weeks of silence on a virus policy pivot that’s infected hundreds of millions and delivered a severe blow to economic activity.
