Bloomberg China reported an increase in its gold reserves for a second straight month, topping up holdings again after its first reported purchase in more than three years. The People’s Bank of China (PBOC) raised its holdings by 30 tons in December 2022, according to data on its website. This follows November’s addition of 32 tons, and brings the ...

  Bloomberg China’s economic growth will return to its “normal” path as Beijing provides more financial support to households and private companies to help them recover after the nation ended its Covid Zero policy. The world’s second-largest economy is expected to quickly rebound because of the country’s optimised Covid-19 response and after its economic policies continue to take effect, Guo ...

  Bloomberg Japanese Prime Minister Fumio Kishida said careful explanation and communication with markets would be part of consideration on monetary policy, when asked about possible future changes in the Bank of Japan’s ultra-loose policy. His comments in a live interview with public broadcaster NHK came after central bank governor Haruhiko Kuroda last month shocked markets by saying he would ...

  Bloomberg In a bid to force commercial lenders to participate in the domestic money markets, Sri Lanka’s central bank capped their ability to tap an emergency liquidity window to a maximum five times per month. “The Central Bank of Sri Lanka has decided to impose restrictions on the availability of the Standing Facilities to Licensed Commercial Banks under the ...

  Bloomberg Tanzania’s President Samia Suluhu Hassan appointed Emmanuel Tutuba the nation’s central bank governor, as she moves to tackle the rising cost of living. Tutuba, who has been working as permanent secretary in the Finance Ministry, replaces Florens Luoga after his term expired, according to a statement from the president’s office. The appointment takes immediate effect. Price-growth in the ...

  Bloomberg Czech central-bank Governor Ales Michl is intensifying his appeal on people and the government to help tame inflation by spending less so that policymakers can refrain from raising interest rates further. Inflation will slow considerably from spring and move towards the 2% target next year, with the central bank’s baseline scenario foreseeing stable borrowing costs and a strong ...

  Bloomberg Microsoft Corp is preparing to add OpenAI’s ChatGPT chatbot to its Bing search engine in a bid to lure users from rival Google, according to a person familiar with the plans. Microsoft is betting that the more conversational and contextual replies to users’ queries will win over search users by supplying better-quality answers beyond links, said the person, ...

  Bloomberg Samsung Electronics Co. announced a smart-home control device that doubles as a wireless charger at the CES conference in Las Vegas, pushing deeper into a market led by Amazon.com Inc. The new hub, called the SmartThings Station, allows users to remotely operate accessories such as lights, locks and thermostats in their homes, the company said at the electronics ...

Bloomberg Stellantis NV may idle additional car manufacturing plants as it grapples with higher inflation on top of the cost of electrifying its lineup, Chief Executive Officer (CEO) Carlos Tavares said. “If we don’t optimise our cost structure, we cannot absorb the additional cost of electrification,” which risks leading to elevated car prices and a shrinking market, Tavares told reporters ...

  Bloomberg International Business Machines Corp (IBM) dropped from the top spot for US patents in 2022, the first time in decades Big Blue hasn’t claimed the most in a year, signalling a strategy shift at the longtime intellectual property leader. IBM’s patent count declined 44% to 4,743 patents in 2022, falling to No. 2 behind Samsung Electronics Co.’s 8,513, ...