Bloomberg Chinese President Xi Jinping said the Asia-Pacific was “no one’s backyard” in written remarks to an economic summit in Thailand, in which he pitched his vision for greater regional cooperation on development and security. Xi’s speech was released to a gathering of business executives shortly after he arrived for the Asia-Pacific Economic Cooperation meetings in Bangkok. The gathering came ...

  Bloomberg Indonesia, home to a quarter of the world’s nickel reserves, is proposing the creation of an organization similar to Opec for the metal used in battery-making to coordinate supply. Investment Minister Bahlil Lahadalia expressed the idea of creating an “Opec-like” cartel in a meeting with Canada’s International Trade Minister Mary Ng on the sidelines of the Group of ...

  Bloomberg Alibaba Group Holding Ltd. reported a surprise loss after quarterly revenue barely grew, as China’s rigid Covid controls continue to sap consumer sentiment. Revenue rose a slightly less-than-expected 3% to 207.2 billion yuan ($29 billion) in the September quarter, versus the 209 billion yuan average projection. It reported a net loss of 20.6 billion yuan versus estimates for ...

  Bloomberg On November 14 in Sharm El-Sheikh, representatives from nine countries sat down to dinner. It was the start of the second week of COP27, but this was no panel discussion or debate over loss and damage. The dinner, hosted by California-based startup Good Meat, Washington DC-based nonprofit the Good Food Institute (GFI), and the country of Singapore, was ...

Bloomberg Shares of One 97 Communications Ltd., the parent of India’s leading digital payments brand Paytm, plunged in Mumbai as a unit of Japan’s SoftBank Group Corp. lowered its stake in the company. SoftBank’s SVF India Holdings (Cayman) Ltd. sold 29 million shares of Paytm at 555 rupees ($6.8) each, according to people familiar with the matter, raising 16.1 billion ...

Bloomberg Ukrainian President Volodymyr Zelenskiy said taking back Crimea, which was annexed by Russia in 2014, as well as the country’s long-occupied eastern Donbas region are conditions for bringing the nine-month war to an end. “A simple ceasefire won’t do the trick,” Zelenskiy said in a video interview at the Bloomberg New Economy Forum in Singapore. “Unless we liberate our ...

Bloomberg Chinese President Xi Jinping confronted Canadian Prime Minister Justin Trudeau at the Group of 20 summit, accusing him of leaking details of a private meeting — an unusually candid glimpse of Xi’s interactions with other world leaders. “Everything we discussed was leaked to the newspapers. That’s not appropriate, and that’s not the way our conversation was conducted, right?” Xi ...

Bloomberg Singapore’s prime minister-in-waiting said the meeting between US President Joe Biden and Chinese counterpart Xi Jinping was “a good start” as Asian leaders greet diplomatic efforts between the top two economies with guarded optimism. Deputy Prime Minister Lawrence Wong, 49, said in an interview with Bloomberg News Editor-in-Chief John Micklethwait that the meeting between the two leaders was “important ...

  Bloomberg South Korean President Yoon Suk Yeol and Dutch Prime Minister Mark Rutte discussed ways to enhance economic security ties, seeking cooperation in the chip industry after US export curbs to China rattled the global semiconductor market. The two “underscored the significance of further strengthening existing collaboration between the two countries’ semiconductor industries and expressed their intention to support ...

Bloomberg China’s property slump is estimated to cost the nation’s banking system as much as 1.5 trillion yuan ($212 billion) in losses on loans, bonds and other assets, according to UBS Group AG. Such a loss will be “digestible by the banking system as the banks have strong earnings power and high” reserves against non-performing assets, May Yan, the bank’s ...