World economy
China’s zero-Covid policy tests small businesses in a make-or-break it year
Shanghai is in a two-part lockdown and has announced about 140 billion yuan ($21.88 billion) in tax relief, according to state media. The eastern half of the Chinese financial hub is in lockdown as authorities test all the city’s population in a bid to contain the epidemic. Yu Ruwen | Future Publishing | Getty Images […]
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BofA says iPhone demand still strong despite reports of production cutback
Tim Cook at the Apple launch event, March 8, 2022 Apple Bank of America analysts said on Wednesday that iPhone demand is still strong despite a recent report that said Apple cut production of its iPhone 13 and new iPhone SE. “While these articles might lead some investors to think there is risk to demand, […]
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Putin might be seen as a ‘mad dictator’ — but he has built powerful barriers to prevent a coup
Russian President Vladimir Putin delivers a speech during a concert marking the eighth anniversary of Russia’s annexation of Crimea at Luzhniki Stadium in Moscow, Russia March 18, 2022. Sergey Guneev | Sputnik | Reuters If his reputation wasn’t bad enough before Russia’s unprovoked invasion of Ukraine, President Vladimir Putin is now even more widely seen […]
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European markets pull back amid doubts over latest Russian pledges over Ukraine
LONDON — European stocks retreated on Wednesday following the latest round of talks between Russia and Ukraine, aimed at finding a solution to the conflict. The pan-European Stoxx 600 fell 0.5% in early trade, with autos shedding 1.6% to lead losses, while oil and gas stocks gained 2.1%. In terms of individual share price movement, […]
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Turkey may become the new playground for Russian oligarchs – but it’s a risky strategy
Eclipse, the private luxury yacht of Russian billionaire Roman Abramovich, anchors at Cruise Port in Marmaris district of Mugla, Turkiye on March 23, 2022. Anadolu Agency | Anadolu Agency | Getty Images Russian oligarch wealth is on the hunt for a new home, and Turkey is quickly establishing itself as a welcome host. Turkish Foreign […]
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China’s rich are moving their money to Singapore. Beijing’s crackdown is one of the reasons.
As Beijing pushes for “common prosperity” and political turmoil threatens Hong Kong, Singapore has become a safe harbor for some of the region’s wealthiest tycoons and their families. Wei Leng Tay | Bloomberg | Getty Images More and more wealthy Chinese are worried about keeping their money on the mainland and some see Singapore as […]
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UAE energy minister warns of poverty and economic stagnation if energy affordability isn’t tackled
United Arab Emirates’ Energy Minister Suhail Mohamed al-Mazrouei at a press conference in January, 2018. MOHAMMED MAHJOUB/AFP/Getty Images Failure to address energy affordability risks casting significant portions of the world into poverty and stagnating the global economy, according to the United Arab Emirates Energy Minister Suhail Al Mazrouei. Soaring energy prices have caused inflation to spike […]
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European markets climb as Ukraine-Russia talks begin; Stoxx 600 up 1.8%
LONDON — European stocks advanced on Tuesday as another round of Ukraine-Russia talks got underway. The pan-European Stoxx 600 climbed 1.8% by mid-afternoon, with autos jumping 4.5% to lead gains as all sectors and major bourses traded in positive territory. In terms of individual share price movement, Swedish investment company Storskogen Group added more than […]
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China’s factories were hit harder this quarter than last year as Covid drags on, survey says
China’s bicycle exports for the first two months of 2022 fell by 16% from a year ago, after growing by 14.9% for all of 2021, according to customs data. Song Wei | Visual China Group | Getty Images BEIJING — Manufacturing, one of the main drivers of China’s growth since the pandemic began, saw slower […]
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‘We will come and we will find you’: U.S. issues warning to anyone helping Russia bypass sanctions
Wally Adeyemo, deputy U.S. Treasury secretary, speaks during a news conference at the Department of Justice in Washington, D.C., U.S., on Monday, Nov. 8, 2021. Bloomberg | Bloomberg | Getty Images The U.S. will hold accountable any actor that seeks to help Russia bypass economic sanctions amid the Kremlin’s unprovoked onslaught on Ukraine, Deputy U.S. […]
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