January, 2023

• 3 January

  Xi: Tough challenges remain in China’s fight against Covid-19

  

  Bloomberg President Xi Jinping said tough challenges remain in China’s fight against Covid-19 and acknowledged divisions in society that led to rare spontaneous protests, after weeks of silence on a virus policy pivot that’s infected hundreds of millions and delivered a severe blow to economic activity. In a New Year’s address, Xi said the country is in a new phase ...

  Read More »
• 3 January

  Indonesia’s inflation beats highest forecast

  

    Bloomberg Indonesia’s inflation surprised on the upside in December, challenging the central bank and market’s view that price pressures were well on the wane. Consumer prices rose 5.51% from a year ago, driven by higher costs of gasoline, household fuels, air freight rates and transport fares, the nation’s statistics agency said. That beats even the highest forecast in a ...

  Read More »
• 3 January

  India’s unemployment rate surges to 16-month high

    Bloomberg India’s unemployment rate rose to a 16-month high in December as job creation in the slowing economy failed to keep pace with the growing workforce. The overall unemployment rate increased to 8.3%, up from 8% in November, according to data from the Centre for Monitoring Indian Economy Pvt Ltd. That’s the highest reading since August 2021. The rise ...

  Read More »
• 3 January

  Modi’s cash ban was legal, India’s top court rules amid faint dissent

  

    Bloomberg India’s Supreme Court upheld Prime Minister Narendra Modi’s 2016 decision to overnight invalidate high-value currency notes, a decision that could provide firepower to the ruling party ahead of a series of elections in coming months. A five-judge panel in a majority verdict said the government’s move satisfied the test of “proportionality” and the court cannot supplant the wisdom ...

  Read More »
• 3 January

  HK property market may rebound: Chan

    Bloomberg Hong Kong Financial Secretary Paul Chan said he is optimistic about the city’s economic prospects for this year and expects the local real estate market to rebound after the China border reopens. Hong Kong’s exports, tourism and local service industry are all expected to rebound on China’s border reopening, and consumption in the first quarter is likely to ...

  Read More »
• 3 January

  Thai businesses prep for return of Chinese tourists with caution

  

  Bloomberg Chinese tourists accounted for nearly a third of Thailand’s visitors prior to Covid, so their pending return has local businesses hoping for a much needed boost. But a full recovery from the crisis remains a way off. Thai government and industry estimates on Chinese visitor numbers for next year range from 3 million to 5 million — a wide ...

  Read More »
• 3 January

  Brazilian president urges peace in politically divided society

  

  Bloomberg Luiz Inacio Lula da Silva retook the helm of Latin America’s largest democracy promising to bring back the economic inclusion and prosperity that marked his first two terms as Brazil’s president between 2003 and 2011. It won’t be easy: Brazil grew more politically polarised over the past two decades, with trust in his Workers’ Party eroded by corruption scandals. ...

  Read More »
• 3 January

  Helicopter collision in Australia leaves 4 dead

  

  Bloomberg Four people have died and three are critically injured after a mid-air collision involving two helicopters near the Sea World theme park on Australia’s Gold Coast. Queensland Police said it appeared that one helicopter was taking off and another was landing when the incident occurred on Monday. The Australian Transport Safety Bureau is appealing for witnesses and has sent ...

  Read More »
• 3 January

  Japan says Chinese military drone spotted near Okinawa

    Bloomberg Japan’s Defense Ministry said it spotted a Chinese military drone near the Japanese islands of Okinawa and Miyakojima on New Year’s Day. The unmanned reconnaissance aircraft, which the ministry identified as a WZ-7 drone, flew from the East China Sea towards the Pacific Ocean before circling back and heading west, the ministry said in a statement. The aircraft ...

  Read More »
• 3 January

  Ukrainian strike kills 63 Russian troops in occupied town

  

  Bloomberg A Ukrainian strike on a Russian military facility in the occupied eastern town of Makiyivka killed 63 troops being housed there, Russia’s defense ministry said, making it one of the deadliest losses acknowledged by Moscow. Ukraine warned that Russia may launch more attacks over the Orthodox Christmas holiday later this week even as it downed all 39 Shahed drones ...

  Read More »