By Mark John (Reuters) – Those who believe the world economy can avoid the hardest of landings next year are watching China closely to see whether its move to loosen pandemic restrictions will help that scenario come about or end up wrecking it. The knock-on effects of ditching “zero-COVID” remain highly uncertain given China’s patchy …
Analysis-Global economy bets on China learning to live with COVID Read More »
(Reuters) -China’s Xiaomi Corp has started laying off workers in its smartphone and internet services business, joining a long list of Chinese tech firms cutting jobs as the country battles COVID-19 outbreaks. A company spokesperson said on Tuesday that its “personnel optimzation and organizational streamlining” practice would “affect less than 10% of total workforce”, adding …
Smartphone maker Xiaomi to slash 10% of jobs amid China’s COVID battle Read More »
By Leika Kihara TOKYO (Reuters) – The Bank of Japan shocked markets on Tuesday with a surprise tweak to its bond yield control that allows long-term interest rates to rise more, a move aimed at easing some of the costs of prolonged monetary stimulus. Shares tanked, while the yen and bond yields spiked following the …
BOJ jolts markets in surprise change to yield curve policy Read More »
BEIJING (Reuters) – China’s government land sales revenue fell 24.4% from a year earlier for the January-November period, data from the Ministry of Finance showed on Tuesday. For November only, land sales dropped 13.41% year-on-year, extending from 3.78% slump in October, according to Reuters calculations based on the ministry’s data. (Reporting by Liangping Gao and …
China’s Jan-Nov govt land sales revenue falls 24.4% y/y Read More »
TAIPEI (Reuters) – Taiwan’s export orders contracted at the worst rate in more than a decade in November, hit by a plunge in China demand and generally weaker global consumer spending because of inflation and interest rate hikes. The island’s export orders last month, a bellwether for global technology demand, were 23.4% lower than a …
Taiwan Nov export orders plunge, China’s COVID surge clouds outlook Read More »
By Renju Jose SYDNEY (Reuters) -Australian Foreign Minister Penny Wong said on Tuesday she will push China to lift trade sanctions and seek consular access to two detained Australians during a trip to Beijing that is aimed at mending strained diplomatic ties. But Wong, who is expected to meet counterpart Wang Yi on Wednesday, tempered …
Australia seeks to resolve China trade woes as foreign minister heads to Beijing Read More »
HONG KONG (Reuters) – China’s second largest hydropower facility on the upstream branch of the Yangtze river was formally completed on Tuesday after the last generating unit was connected to the grid, state broadcaster CCTV said. The Baihetan hydropower plant is equipped with sixteen 1-gigawatt (GW) turbines, making it the second largest hydropower generator in …
China completes construction of second biggest hydro plant Read More »
JAKARTA (Reuters) – Indonesia reported a fiscal deficit of 237.7 trillion rupiah ($15.24 billion) as of Dec. 14, equal to 1.22% of gross domestic product, its finance minister said on Tuesday, smaller than a previous forecast of about 3% for 2022. Total revenue in the period was 2,479.9 trillion rupiah, up 37% from last year, …
BEIJING (Reuters) – The World Bank has cut its China growth outlook for this year and next, citing the impact of the abrupt loosening of strict COVID-19 containment measures and persistent property sector weakness. The Washington-based lender, in a report released on Tuesday, said it expected China’s economy to grow 2.7% in 2022, before recovering …
World Bank cuts China growth outlook on COVID, property woes Read More »
KUALA LUMPUR (Reuters) – Malaysia’s Prime Minister Anwar Ibrahim on Tuesday said the country’s gross domestic product this year was very likely to exceed earlier projections of between 6.5% and 7%. “This year’s economic performance is encouraging as a result of the reopening of the economy in line with a shift to a COVID-19 endemic …
Malaysia’s 2022 GDP growth very likely to beat forecasts – PM Read More »
