Wall Street banks have warned that the weakness in China’s real estate sector could impede the economy for years to come, and could even have an impact on countries in the wider region. Goldman Sachs economists led by China economist Lisheng Wang said in a weekend note that they see persistent weaknesses in the property
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Saudi Arabia’s Minister of Investment, Khalid Al-Falih, has stated that China is a significant player in the multipolar world order that has emerged. In a recent interview with CNBC, Al-Falih expressed his belief that Saudi Arabia and China will only grow closer as their common interests increase. The Arab-China Business Conference, now in its 10th
The People’s Bank of China (PBOC) has cut its seven-day reverse repurchase rate, a key short-term policy rate, as the country faces disappointing economic data after a Covid-19 reopening that failed to gain momentum. This is the first such move by the central bank since August and follows the country’s largest banks cutting deposit rates
Linda Yaccarino, the new CEO of Twitter, recently sent a memo to employees, emphasizing the company’s focus on free speech. In her first tweet thread since becoming CEO, Yaccarino stated that Twitter is on a mission to become the world’s most accurate real-time information source and a global town square for communication. Yaccarino believes that
According to the Organization for Economic Cooperation and Development (OECD), India’s economic growth is expected to surpass that of China’s this year and the next. The OECD’s global economic outlook report predicts that India, China, and Indonesia will lead in gross domestic product (GDP) projections for 2023 and 2024. The organization expects global growth of
On Wednesday, the S&P 500 and Nasdaq Composite closed lower, while the Dow Jones Industrial Average added 91.74 points, closing at 33,665.02. The S&P 500 closed at 4,267.52, down 0.38%, while the Nasdaq Composite declined 1.29% to end at 13,104.89. The best-performing S&P 500 sector was energy, which rose by about 2.6%, with the SPDR
The Japanese economy grew an annualized 2.7% in the first quarter of 2022, surpassing earlier estimates of 1.6% made last month, according to government data. The growth can be attributed to robust spending. Economists surveyed by Reuters had expected growth of 1.9%. This growth is a positive sign for the world’s third-largest economy as it
An Air India flight from Delhi to San Francisco was forced to divert and land at an airport in Russia’s Far East after developing a technical issue with one of its engines. The Boeing 777 widebody aircraft was carrying 216 passengers and 16 crew members. Despite the diversion, Air India said it planned to send
The Japanese yen has been weakening, and some market watchers are predicting that the country’s central bank may intervene in response to its ultra-dovish policy in a world of high rates and high inflation. Foreign investors are enjoying a rally in Tokyo stocks thanks to the cheaper exchange rate. The Japanese yen traded just north
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, announced on Sunday that there will be no changes to its planned oil production cuts for this year. Previously, the alliance had agreed to a 2 million barrels-per-day decline in October, and some OPEC+ members had also announced voluntary drops of