World economy
Singapore’s air travel is rebounding despite China’s border restrictions, transport minister says
Air travel in Singapore is recovering and has reached around 40% of pre-Covid levels despite China’s border restrictions, Transport Minister S. Iswaran said. China’s passenger traffic is significant for Singapore, he said. Some 3.6 million Chinese residents traveled to Singapore in 2019, accounting for 13% of total visitors, according to data from the local tourism […]
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Monkeypox is a dangerous disease threat — but has one key difference from Covid, epidemic coalition says
Health officer uses a thermal head to detect a monkeypox virus on arriving passengers at Soekarno-Hatta International Airport in Tangerang near Jakarta, Indonesia on May 15, 2019. Jepayona Delita | Future Publishing | Getty Images The sudden emergence of monkeypox in several countries around the world represents a concerning outbreak, the head of the Coalition […]
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Monkeypox does not pose a Covid-style risk despite its swift spread, top health execs say
Business and political leaders gathered in the Swiss hilltop town of Davos in May 2022 for the World Economic Forum. Xinhua News Agency | Xinhua News Agency | Getty Images As the business and political elite gathered in Davos, Switzerland, this week for the first in-person World Economic Forum since the onset of the Covid-19 […]
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The Indo-Pacific Economic Framework: What it is — and why it matters
U.S. President Joe Biden formally introduced the Indo-Pacific Economic Framework, or IPEF, this week during his first Asia tour, revealing Washington’s long-awaited Asia-Pacific economic strategy. It comes five years after the U.S. unilaterally withdrew from the Trans-Pacific Partnership, a trade deal signed by 12 countries in Asia-Pacific, North America and South America. With the U.S. […]
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Saudi finance minister warns of growing global food crisis caused by Ukraine war
Mohammed Al-Jadaan, Saudi Arabia’s finance minister, at the World Economic Forum in Davos, Switzerland Jason Alden | Bloomberg | Getty Images Several countries are raising the alarm over the growing crisis in global food supplies triggered by Russia’s invasion of Ukraine. The warring states are among the world’s top agricultural exporters and feed much of […]
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‘Make Russia pay for it’: Ukraine’s Kuleba on the massive cost of post-war reconstruction
The cost of Ukraine’s reconstruction after the country’s devastation by Russian forces will be colossal. Ukrainian officials have estimated it at a potential $600 billion, with some saying that is a modest figure and set to increase as the war drags on. International financial institutions have stressed the need for something like a Marshall Plan […]
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‘Kissinger still lives in the 20th century’: Ukraine hits back at suggestion it should cede land to Russia
A Ukrainian MP has given what he called a “polite” reply to former U.S. Secretary of State Henry Kissinger’s suggestion that Ukraine should be prepared to cede some territory to Moscow in order to reach a peace deal. “I think Mr. Kissinger still lives in the 20th century and we are in the 21st century […]
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Crypto firm Ripple will explore IPO after SEC lawsuit ends, CEO says
DAVOS, Switzerland — Ripple will explore the possibility of an initial public offering once its lawsuit with the U.S. Securities and Exchange Commission has ended, CEO Brad Garlinghouse told CNBC. The company uses XRP, the world’s sixth-largest cryptocurrency, to facilitate cross-border payments. Effectively, fiat is converted to XRP which lowers the cost and increases the […]
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‘Downright scary and untenable’: Commerce secretary warns U.S. needs to secure a future for its chip industry
Gina Raimondo, Secretary of Commerce, at the WEF in Davos, Switzerland on May 25th, 2022. Adam Galica | CNBC U.S. Commerce Secretary Gina Raimondo on Wednesday urged Congress to pass the CHIPS for America Act in order to safeguard national security and the future of the economy. The bill aims to incentivize investment in U.S. […]
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Pfizer CEO says he ‘wouldn’t worry much’ about monkeypox; cuts drug prices for low-income countries
Albert Bourla, Pfizer CEO, at the WEF in Davos, Switzerland on May 25th, 2022. Adam Galici | CNBC Pfizer’s CEO said Wednesday that he “wouldn’t worry much” about a recent monkeypox outbreak that has seen cases surge in non-endemic countries. Albert Bourla told CNBC that current data on the disease suggests it doesn’t transmit as […]
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