Asia Economy
Central banks face tough decisions after Russia’s invasion. Not everyone’s sure they’ll get it right
A trader works, as Federal Reserve Chair Jerome Powell is seen delivering remarks on a screen, on the floor of the New York Stock Exchange (NYSE), January 26, 2022. Brendan McDermid | Reuters LONDON – Just as many central banks had set their sights on normalizing monetary policy as economies emerged from the coronavirus pandemic, […]
Read More
China Boeing 737 plane crash: No reports yet of bodies or survivors
BEIJING — No bodies or survivors have yet been found from the China Eastern Airlines crash as of Tuesday morning, Chinese state media said. The domestic flight on a Boeing 737-800, which was carrying 132 people, nosedived Monday afternoon in the southern region of Guangxi, China’s aviation authority confirmed. The cause of the crash remains […]
Read More
Alibaba increases share buyback to $25 billion from $15 billion
Alibaba’s headquarters in Hangzhou, China, on Wednesday, Nov. 10, 2021. Qilai Shen | Bloomberg | Getty Images Chinese e-commerce giant Alibaba Group Holding said on Tuesday it upsized its share buyback program to $25 billion from $15 billion, the second time in the past year. Alibaba said it had already re-purchased about $9.2 billion of […]
Read More
China is managing its Covid outbreak one new local crisis at a time
A worker wearing personal protective equipment disinfects a truck entering JD.com’s logistics park in Shanghai, China, on Wednesday, March 9, 2022. Qilai Shen | Bloomberg | Getty Images BEIJING — As some parts of China reopen, others are imposing new Covid-related restrictions, reflecting the challenge government officials face in controlling the worst outbreak since early […]
Read More
Hong Kong plans to scrap flight ban on 9 countries on April 1
Hong Kong Chief Executive Carrie Lam speaks during a press conference at the government headquarters in Hong Kong on March 9, 2022. Pool | Getty Images News | Getty Images Hong Kong plans to relax some anti-Covid measures next month. That includes lifting a ban on flights from nine countries, reducing quarantine time for arrivals […]
Read More
The ‘Great Resignation’ has gone global – and it’s shaking up the labor market for good
Millions of workers worldwide have quit their jobs without something else lined up. So, what is the Big Quit, and how will it change our workforce? Chloe Loh, like many other workers across the world, epitomizes the “Great Resignation.” “I left my job in December,” Loh told CNBC. “I was looking for a role that […]
Read More
Shanghai Disney to close starting Monday amid Covid outbreak in China
Shanghai Disneyland reopened in early May. Hu Chengwei The Shanghai Disney Resort said on Sunday it will temporarily close until further notice starting Monday, citing the new coronavirus outbreak in China. “Due to the current pandemic situation, Shanghai Disney Resort, including Shanghai Disneyland, Disneytown and Wishing Star Park will be temporarily closed from Monday, March […]
Read More
European markets close higher, notch best weekly gain since 2020 amid Russia-Ukraine talks
LONDON — European markets closed higher on Friday, notching their best weekly gain since 2020, as investors tracked negotiations between Russia and Ukraine and digested a big week of central bank decisions. The pan-European Stoxx 600 provisionally ended 0.7% higher, with most sectors in positive territory and major bourses pointing in opposite directions. The index […]
Read More
Indian beauty company Nykaa looks to physical retail expansion to meet consumer demand for offline sales
While Nykaa started as an e-commerce platform, founder and CEO Falguni Nayar is a “big believer” in physical retail and said there is demand from consumers. “The last two years have been very much impacted by Covid-19 and what it does to physical retail. However, we do believe that if you look at the math […]
Read More
Here’s what Chinese state media is saying ahead of Xi’s call with Biden
Chess pieces are seen in front of displayed China’s and U.S. flags in this illustration taken January 25, 2022. Dado Ruvic | Reuters BEIJING — While Chinese state media have tacked away from primarily pro-Russian coverage of the war in Ukraine, one of the consistent messages remains: Blame the U.S. Chinese President Xi Jinping and […]
Read More