Asia Economy
Air travel is making a strong comeback, but Asia is lagging behind, IATA says
International air travel has been making a strong recovery this year, with the exception of the Asia-Pacific region, which is “lagging significantly behind,” according to the International Air Transport Association (IATA). “Last year, international travel was at about 25% of where it was in 2019. First quarter of this year across the globe, it’s up […]
Read More
Singapore to restart work on new airport terminal as passengers return
Travelers walk through the transit area at Changi Airport in Singapore, on Wednesday, March 30, 2022. Singapore will resume building a fifth terminal at its Changi Airport after a two-year hiatus, the transport minister said on Tuesday, as regional and global air and passenger traffic recovers from the pandemic. Ore Huiying | Bloomberg | Getty […]
Read More
Shanghai achieves ‘zero Covid’ status but normal life is weeks away
Residents line up to take nucleic acid tests on May 12, 2022 in Shanghai, China. Streets in China’s capital Beijing were quiet on Friday as residents heeded the advice of authorities to work from home to stop the spread of Covid-19, while officials in locked-down Shanghai said they aimed to defeat the virus this month. […]
Read More
Some factories might leave China, but in the grand scheme of things it doesn’t matter much
China still holds the cards for global supply chains, whether or not Covid lockdowns frustrate businesses in the near term. An employee works on the production line of the screens for 5G smartphones at a factory on May 13, 2022 in Ganzhou, Jiangxi Province of China. Zhu Haipeng | Visual China Group | Getty Images […]
Read More
JPMorgan picks China stocks to play Beijing’s infrastructure boost
China has announced big plans to build up more cities, and JPMorgan analysts say it’s time to buy some infrastructure stocks. That’s based on news earlier this month that China’s top executive body, the State Council, has loosened residency rules to allow migrant workers from rural areas to settle in smaller towns. By the numbers, […]
Read More
North Korea’s Kim orders military to ‘stabilize’ drug supply amid Covid outbreak
North Korea acknowledged for the first time last week that it is battling an “explosive” Covid-19 outbreak. In this file photo, employees are seen spraying disinfectant as part of preventative measures against the virus at the Yokjon Department Store in Pyongyang on October 20, 2021. Kim Won Jin | AFP | Getty Images North Korean […]
Read More
China’s economic data disappoint in April as Covid controls weigh
The persistent spread of Covid and resulting stay-home orders — primarily in Shanghai — forced factories to close or operate at limited capacity in April. Pictured here on May 12 is a refrigerator factory in Hefei, China, about a five hours’ drive from Shanghai. Xie Chen | Visual China Group | Getty Images BEIJING — […]
Read More
India blocks all wheat exports with immediate effect
India, the world’s second-biggest wheat producer, has blocked all exports of the grain with immediate effect. Bloomberg | Bloomberg | Getty Images India has prohibited wheat exports with immediate effect, the government said in a notification late on Friday, as the world’s second-biggest wheat producer tries to calm local prices. Shipments of wheat are allowed […]
Read More
European stocks climb as global markets look for rebound; Stoxx 600 up 1.4%
LONDON — European stocks bounced on Friday as global markets looked to regain some ground after a bruising week, with investors assessing the outlook for inflation and interest rates. The pan-European Stoxx 600 added 1.4% by around noon, with travel and leisure stocks jumping 3% to lead gains as all sectors and major bourses traded […]
Read More
North Korea reports first Covid-19 death as fever ‘explosively spreads’
People sit near a screen showing a news broadcast at a train station in Seoul on May 12, 2022, of North Koreas leader Kim Jong Un appearing in a face mask on television for the first time to order nationwide lockdowns after the North confirmed its first-ever Covid-19 cases. Anthony Wallace | AFP | Getty […]
Read More