Notwithstanding high inflation and household debt in some nations, the developing economies of East Asia and the Pacific will have faster growth in 2023 as a result of China’s openness and economic recovery, the World Bank predicted on Friday. In… Read More ›
According to official statistics released on Friday, China’s manufacturing activity grew more slowly in March, raising concerns about the depth of a post-COVID factory recovery amid weaker global demand and a slump in the real estate market. After China’s zero-COVID… Read More ›
After failing to find a funding reprieve, Virgin Orbit will cease operations “for the foreseeable future,” CEO Dan Hart announced during an all-hands meeting on Thursday. Nearly all of the company’s employees will be let go. “Unfortunately, we’ve not been… Read More ›
When mounting costs and unpredictability in the weather damage domestic output, Britons—who are already feeling the effects of the greatest increase in food prices since 1977—may have to adjust to shortages of fresh veggies. Tomatoes, cucumbers, and peppers have been… Read More ›
Beginning in late 2020, Beijing’s regulatory onslaught on the Chinese IT industry cost the nation’s largest corporations more than $1 trillion in revenue. There are currently indications that the central government is changing its posture toward internet behemoths like Alibaba,… Read More ›
The cost of buying a BMW or Mercedes in Singapore is approaching the annual income of the average local family, thanks to a luxury car tax. The right to buy a “open category” vehicle, which may be put toward any… Read More ›
The announcement of big revamping plans by Alibaba Group has been interpreted as a hint that Beijing’s regulatory crackdown on corporations is coming to an end, driving its shares higher and bolstering investor confidence in the future of Chinese digital… Read More ›
Recession concerns that had seemed to have subsided only a few weeks earlier have been re-ignited by the failure of American lenders Silicon Valley Bank (SVB) and Signature Bank, followed by Credit Suisse’s rescue, and the accompanying turbulence in global… Read More ›
The European Union’s energy ministers are likely to grant final approval on Tuesday to the bloc’s rule to phase out new CO2-emitting cars by 2035, after Germany obtained an exemption for e-fuel vehicles. The vote is taking place three weeks… Read More ›
After spending months overseas, Alibaba founder Jack Ma has been spotted in China, possibly indicating that Beijing is warming up to technology titans once more following an almost 18-month crackdown on the industry. According to a WeChat post from the… Read More ›
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