Asia Entertainment World

Macau casino giants win licence renewals, Malaysia’s Genting loses bid

Editorial Bureau November 26, 2022

Macau said Saturday it has renewed the licences of its six major casino operators, with the city aiming for terms that would help diversify its economy away from gambling. The former Portuguese colony is the only territory in China where casinos are allowed, and it issues just six operating

Asia World

Red Cross: Afghans will struggle for their lives this winter

Editorial Bureau November 21, 2022

 More Afghans will be struggling for survival as living conditions deteriorate in the year ahead, a top official of the International Committee of the Red Cross said in an interview, as the country braces for its second winter under Taliban rule. The religious group’s seizure of power in August 2021 sent the economy into a […]

Asia Business World

China consumer and factory activity down as virus controls rise

Editorial Bureau November 15, 2022

Chinese consumer spending contracted in October, and factory activity weakened as anti-virus controls following a rise in infections weighed on the economy. Retail sales sank 0.5% compared with a year ago, down from September’s 2.5% expansion, as millions of people were confined to their homes, government data showed Tuesday. Growth in factory output decelerated to […]

Asia Business Europe World

Germany’s Scholz arrives in China to boost economic ties

Editorial Bureau November 4, 2022

German Chancellor Olaf Scholz arrived in Beijing Friday seeking to bolster a vital economic relationship but facing criticism about his country’s heavy reliance on a nation growing more authoritarian under Xi Jinping. Scholz is the first G7 leader to visit China since the start of the coronavirus pandemic, which prompted the world’s number two economy […]

Business IN UK 01 UK

Bank of England ready for biggest interest rate hike since 1989

Editorial Bureau November 3, 2022

The Bank of England is widely expected to hike its key interest rate on Thursday by the biggest amount since 1989 as it bids to cool sky-high British inflation. Some analysts, however, are predicting a rise of one percentage point, also a 33-year high. The move would mirror aggressive rate-tightening by central banks worldwide as […]

Business UK

Treasury chief delays detailing new economic plans

Editorial Bureau October 27, 2022

On Wednesday, U.K. Treasury chief Jeremy Hunt delayed his much-anticipated economic statement until Nov. 17, giving new Prime Minister Rishi Sunak a chance to weigh in on policies meant to stabilize the country’s finances after his predecessor’s tax-cutting plans triggered market upheaval. The statement will now include a full budget and analysis of its impact

Middle East World

Crisis-hit Lebanon drifts towards extended power vacuum

Editorial Bureau October 25, 2022

 Already reeling from three years of economic meltdown, Lebanon faces the prospect of its multi-faceted crisis deepening further when President Michel Aoun’s mandate expires in a week from now. The deadline looms as the country is headed by a caretaker administration, since key parties have been unable to agree on a proper government to replace […]

Asia World

China’s economic growth accelerates but weak amid shutdowns

Editorial Bureau October 24, 2022

China’s economic growth accelerated in the latest quarter but still was among the weakest in decades as the ruling Communist Party tries to reverse a downturn while enforcing anti-virus controls and a crackdown on debt in its vast real estate industry. The world’s second-largest economy grew by 3.9% over a year earlier in the three […]

IN UK 01 UK

New UK Treasury chief to aims to calm markets with statement

Editorial Bureau October 17, 2022

The new U.K. Treasury chief will announce details of his tax and spending plans Monday, two weeks ahead of schedule, in a bid to calm markets roiled by the government’s economic policies. Chancellor of the Exchequer Jeremy Hunt is expected to ditch more of the measures announced by the government of Prime Minister Liz Truss on Sept. 23. Truss drafted Hunt in […]

IN UK 01 UK

Liz Truss goes from triumph to trouble in 6 weeks

Editorial Bureau October 17, 2022

When Liz Truss was running to lead Britain this summer, an ally predicted her first weeks in office would be turbulent. But few were prepared for the scale of the sound and fury -– least of all Truss herself. In just six weeks, the prime minister’s libertarian economic policies have triggered a financial crisis, emergency central […]