China’s economy contracted by 2.6% in the three months. The world’s second-largest economy expanded by 0.4%. Major cities across China were put into full or partial lockdowns during this period. Many analysts do not expect a quick economic recovery for China. As the government continues with its strict zero-Covid approach to slowing the spread of … Read more
The seven men were sentenced to ten months in prison for perverting the course of public justice. They were part of a group of 12 Hong Kongers that made a break for Taiwan in August 2020. Two of the original group of 12 are still serving prison sentences in mainland China. Seven people were … Read more
China asked UN Security Council for banning small arms deliveries to Haiti. Gang violence in the Caribbean nation has been soaring. At least 89 people killed in Port-au-Prince region alone this week. China has asked the UN Security Council to vote on banning small arms deliveries to Haiti, setting up a potential stand-off Friday with … Read more
President Joe Biden will announce US $316 million (S $443 million) in aid for the Palestinians. The aid package could include up to $100 million for the East Jerusalem Hospital Network. Mr Biden will also announce the collaboration between Israeli and Palestinian teams to construct a 4G cellular network. JERUSALEM: President Joe Biden will announce … Read more
Zhejiang Province has advised its 65 million citizens and enterprises to save energy. The province’s energy bureau has rationed the supply of power for energy-intensive businesses. China’s pig farming sector is feeling the effects both domestic and international markets. In China, a major manufacturing zone has been compelled to appeal to firms and individuals to … Read more
Solomons Prime Minister Manasseh Sogavare says the Solomon Islands will not host a foreign military facility. The Solomon Islands signed a secret security deal with China. Pacific leaders met this week to discuss security and competition between the US and China in the region. SUVA, Fiji: Prime Minister Manasseh Sogavare said Thursday that the Solomon … Read more
A total of 39 billion yuan in deposits are thought to have been frozen by rural banks. Payments will start to be made in phases on Friday, regional regulators announced. Some Chinese social media users have criticised the announcement. Authorities in the Henan province of China have announced that they will begin releasing money to … Read more
Shanghai’s 16 districts are required to submit to two rounds of testing. Authorities learned of a case of the new BA.5.2 subvariant. Residents and Covid employees stand in long line for testing. Millions of people in Shanghai risked the searing heat on Tuesday to stand in line for required Covid testing as new worries of … Read more
All the “bad air” doesn’t move en masse. Walker struggles to acclimatize to Senate nomination scrutiny. A June Quinnipiac survey showed Warnock leading Walker 54%-44%. The phrase “open well of incompetence” could not be more aptly applied to Herschel Walker. He is the very definition of the phrase. Georgia Republican Senate candidate on climate change: … Read more
A US warship cruised near the disputed Paracel Islands in the South China Sea, angering Beijing. China said it “drove away” the ship for illegally entering its territorial waters. Vietnam and Taiwan also claim the Paracels, which China calls its territory. BEIJING: A US warship cruised near the disputed Paracel Island in the South China … Read more
Brent crude falls $7 to settle below $100 a barrel. A strengthening dollar, demand-sapping COVID-19 curbs in China. Rising fears of a global economic slowdown are behind the drop. Oil is generally priced in U.S. dollars. Hedge funds and other money managers sold the equivalent of 110 million barrels. Brent rough tumbled $7 on Tuesday … Read more
India will surpass China as the most populous country on earth in 2023. The world’s population is growing at its slowest pace since 1950, UN says. More than half of the rise forecast in population in the coming decades will be concentrated in eight countries. The UN predicted that the world’s population will hit eight … Read more
Chinese Foreign Minister Wang Yi Wang says many countries in region were under pressure to take sides. He was addressing the Association of Southeast Asian Nations (ASEAN) secretariat in Jakarta. Wang says he had told Blinken that both sides should discuss establishment of rules for positive interactions. Wang Yi, the foreign minister of China, stated … Read more
IMF Managing Director Kristalina Georgieva is pushing China to speed up debt relief. Western officials are stepping up criticism of the G20 Common Framework process. Nearly two years of glacial progress were blamed largely on foot-dragging by China. IMF Managing Director Kristalina Georgieva is pushing China and other Group of 20 economies to accelerate obligation … Read more
China’s two largest technology companies fined for failing to comply with anti-monopoly rules. List of 28 transactions that did not comply with regulations was released by market regulator. Maximum possible penalty for each offence is 500,000 yuan, equivalent to $74,688. China’s market regulator announced on Sunday that the nation’s two largest technology companies, Alibaba (9988.HK) … Read more
India’s Enforcement Directorate raided 48 Vivo sites around the nation. India has been more strict with Chinese corporations since border tensions with China. The Enforcement Directorate claims Vivo committed tax evasion and transferred money illegally. With its “regular inquiries” of Chinese enterprises, India runs the risk of harming its reputation with foreign investors, Beijing warned … Read more
Some local governments have distributed consumption vouchers to encourage consumption. But those actions remain insufficient. China will have difficulty achieving its official 2022 economic growth target of about 5.5 percent. If more deficit spending is required to fund assistance for small firms, China can consider it, according to a former finance minister on Saturday. Lou … Read more
China’s factory-gate inflation cooled in June to the lowest in 15 months. Consumer inflation rose to the highest in nearly two years. The producer price index (PPI) rose 6.1% year-on-year, after a 6.4% rise in May. 19 lockdowns were lifted in June, but some areas have reported flare-ups in infections. China’s June manufacturing plant entryway … Read more
