Bloomberg Bank of Korea (BOK) Governor Rhee Chang-yong highlighted rapidly rising private and public debt and an aging population as threats to South Korea’s economic outlook. Rhee took office on Thursday after being nominated by President Moon Jae-in almost a month ago. He has so far expressed support for higher interest rates to rein in inflationary pressures while pointing …

  Bloomberg Chinese stocks extended this week’s rout as traders fretted over the economic fallout from the nation’s Covid-Zero strategy, with lower-than-expected policy stimulus adding to their disappointment. The CSI 300 Index slumped 1.8% on Thursday — capping a fifth day of losses — as President Xi Jinping defended China’s lockdown-dependent approach to fighting the Covid-19 pandemic in a speech …

  Bloomberg US stock-index futures rise amid growing optimism for another strong earnings-reporting season, while a selloff in Treasuries resumed with a debate raging around whether inflation is peaking. June contracts on the Nasdaq 100 and S&P 500 indexes climbed at least 0.6% each after Tesla Inc posted record profits that blew past estimates. Treasury yields advanced, with the 10-year …

  Abu Dhabi / WAM The Muslim Council of Elders, under the Chairmanship of the Grand Imam of Al-Azhar His Eminence Dr. Ahmed Al-Tayeb, strongly condemned the burning of the Holy Qur’an by far-right extremists in the Swedish city of Malm?, in what can only be described as a deliberate attempt to offend Muslims around the world. In a statement, …

Bloomberg Solar could generate half of the world’s electricity by 2050 and become the cheapest source of energy, Gao Jifan, the chief executive officer of Trina Solar Co., said at the Boao Forum for Asia. Global solar power capacity has the potential to grow to 14,000 gigawatts by the middle of the century from 800 gigawatts at the end of …

  Bloomberg Delta Air Lines Inc circled back to the public-relations runway after calling Covid-19 an “ordinary seasonal virus” as the airline announced the end of the mask mandate on flights. The airline used the phrase in a statement saying it was relieved when a court lifted the federal mask mandate on air travel, drawing criticism from Twitter users for …

Bloomberg Auckland Airport has experienced a bounce in international visitor numbers, and is optimistic of further increases as New Zealand eases border restrictions, Chief Executive Officer Carrie Hurihanganui said. Foreign arrivals at the nation’s busiest airport plummeted when the border was shut in March 2020, but have started to recover following the removal of self-isolation requirements for residents returning home …

  Bloomberg L’Oreal SA sales climbed as the cosmetics giant benefited from higher demand for its luxury products, weathering virus restrictions in China. The French company’s sales rose almost 14% on a like-for-like basis in the first quarter, beating analyst estimates. Three of the four main divisions grew by double-digit percentages. The stock advanced as much as 2.8% and traded …

  Bloomberg Most major US airlines are no longer requiring travellers or employees to wear face coverings on domestic and some international flights. The decisions came hours after a US judge overturned a federal mandate for passengers to cover their faces. The US Transportation Security Administration said after the court ruling that it would stop requiring passengers on planes, trains …

  Bloomberg Hong Kong’s reopening to the rest of the world is being slowed by the government’s bans on airlines for carrying infected passengers, with 11 routes in total suspended, the most since a peak in January. Hong Kong suspends routes for seven days if three or more passengers on a flight are found to be infected with Covid-19 upon …