Bloomberg Singapore’s recovery held up in 2022, with a relatively strong year-end performance shoring up the economy ahead of an expected global slowdown this year. Gross domestic product grew 3.8% during the year, according to advance estimates from the Ministry of Trade and Industry. That’s a slight beat from the government’s projection for a 3.5% annual expansion. The better-than-forecast ...

  Bloomberg Hyundai Motor Co sold 3.94 million vehicles last year, short of its 4.01 million target as the pandemic, supply disruptions, inflation and concerns of recession continued to strain the industry. Hyundai, which already cut its 2022 forecast from 4.32 million vehicles in October, expects global sales to reach 4.32 million units in 2023 — 3.54 million overseas and ...

  Bloomberg China’s economy ended the year in a major slump as business and consumer spending plunged in December, with more disruption likely in the first few months of the year as Covid infections surge across the country. Official data showed the decline in manufacturing worsened last month, while activity in the services sector plunged the most since February 2020. ...

Bloomberg Germany is open to using billions of euros in frozen Russian assets to help Ukraine rebuild as long as legal issues can be resolved and allies follow suit. Chancellor Olaf Scholz’s government supports Ukraine’s demand for war reparations but hasn’t yet taken an official position on seizing assets from the Russian state. The issue is complex and some parts ...

Bloomberg Philippine President Ferdinand Marcos Jr said his government expects to sign more than 10 agreements with China during his visit there, as he seeks to shift the two nations’ ties to “higher gear.” “I will be opening a new chapter in our comprehensive strategic cooperation with China,” Marcos said in a speech before departing for Beijing. He added that ...

Bloomberg The US is in discussions with South Korea on ways to deter Kim Jong-un’s regime from using nuclear weapons, according to a spokesperson for the National Security Council. Following a meeting in Cambodia last year, US President Joe Biden and South Korean counterpart Yoon Suk Yeol asked their teams to plan for an effective coordinated response to a range ...

  Bloomberg Mitch McConnell is set to break Democrat Mike Mansfield’s record as longest-serving Senate party leader when he starts his 17th year as Republican leader — a mark of stability in a Capitol riven by chaos on the House side of the building. McConnell, 80, is now poised to serve as he did a dozen years ago: As a ...

Bloomberg Bulgaria’s president gave a former ruling party the chance to create a new government and steer the nation out of a political crisis that may lead to the fifth elections in two years. President Rumen Radev tapped Nikolay Denkov, a chemistry professor nominated by the We Continue the Change party, to lead coalition talks. Denkov will have a week ...

  Bloomberg New Chinese Foreign Minister Qin Gang offered effusive praise of Americans after stepping down as his nation’s top envoy to Washington, signalling that ties between the world’s biggest economies appear to be warming despite recent tensions over Taiwan. “I have been deeply impressed by so many hard-working, friendly and talented American people that I met,” Qin said in ...

  Bloomberg Representative Kevin McCarthy’s chances of becoming House speaker remained in doubt hours before Republicans formally take control of the chamber. With Republicans holding only a slender majority when the new Congress convenes, McCarthy can’t lose more than four GOP votes in his bid for speaker, and at least 14 Republicans still hadn’t promised their support. Some of his ...