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  Bloomberg Philippine President Ferdinand Marcos Jr’s economic team lowered its 2023 growth forecast as the global outlook worsens and domestic inflation hovers near a 14-year high. Gross domestic product will probably expand 6%-7% next year from a previous projection of 6.5%-8%, the Development Budget Coordination Committee (DBCC), which sets economic assumptions for fiscal purposes, said. It left this year’s ...

  Bloomberg Dollar bonds of China’s largest developer have returned an eye-watering 404% the past month, highlighting the reversal of fortunes in the country’s property sector as policy shifts have brightened investor sentiment. Country Garden Holdings Co notes started slumping in mid-September, just as another round of worry about real estate firms’ liquidity took hold. A dollar bond maturing in ...

Bloomberg Tesla Inc plans to lower production at its Shanghai factory, according to people familiar with the matter, in the latest sign demand in China isn’t living up to expectations. The output cuts will take effect as soon as this week, said the people, who asked not to be identified because the information isn’t public. They estimate the move could ...

Bloomberg A key motivation for Russian President Vladimir Putin’s invasion of Ukraine was to sow turmoil more broadly in Europe, and he’s now seeking to make the entire continent suffer, according to Albanian Prime Minister Edi Rama. Speaking in an interview at his office in the capital, Tirana, Rama described Ukraine as “the tool to fulfill the ambition of Vladimir ...

  Bloomberg Malaysia’s lawmakers are expected to discuss the budget of Prime Minister Anwar Ibrahim in one or two months, his economy minister said. Under Anwar, the Southeast Asia nation will seek to strengthen industries that will enable it to become a high-income nation over the medium term, Economy Minister Rafizi Ramli said in Kuala Lumpur. Anwar named himself finance ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, chaired the UAE cabinet meeting at Al Zorah Natural Reserve in Ajman, in the presence of HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance; and ...

  Dubai / WAM The 43rd edition of the Big 5, the largest and most influential construction event in the Middle East, Africa, and South Asia, will open on Monday, and start a four-day run at the Dubai World Trade Centre with an industry-altering and future-proofing agenda. The annual event will feature six specialised events addressing the entire sector eco-system, ...

  Abu Dhabi / WAM His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in the Al Dhafra Region, and Chairman of the Emirates Red Crescent (ERC), affirmed that the UAE is witnessing steady growth in promoting volunteer work, thanks to the directives and initiatives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan. HH Sheikh Hamdan said ...

  Sharjah / WAM Expo Khorfakkan is all set for the first edition of the Jewels of Emirates exhibition, which is to run from December 8-11 with the support of Sharjah Chamber of Commerce and Industry (SCCI) and the supervision of Expo Centre Sharjah (ECS). The event boasts a host of elite specialised Emirati companies and designers along with some ...

  Bloomberg German Economy Minister Robert Habeck began a five-day trip to Namibia and South Africa Sunday, part of a push to secure new energy resources for Europe’s biggest economy to compensate for the cut-off from Russian gas supplies. During his first stop in the Namibian capital Windhoek, Habeck, who’ll be accompanied by a delegation of 24 German business leaders, ...