January, 2023

• 4 January

  China’s economy ends 2022 in slump as Covid infections surge

  

    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. ...

  Read More »
• 4 January

  Germany open to seize Russian assets to help rebuild Ukraine

  

  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 ...

  Read More »
• 4 January

  Marcos seeks to move China ties to ‘higher gear’

  

  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 ...

  Read More »
• 3 January

  US in talks with Seoul on deterring Kim from using nukes

  

  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 ...

  Read More »
• 3 January

  McConnell reaches new milestone

    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 ...

  Read More »
• 3 January

  Bulgaria starts new bid to form coalition

  

  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 ...

  Read More »
• 3 January

  Deeply impressed by US: China’s Qin

  

    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 ...

  Read More »
• 3 January

  McCarthy’s bid for House speaker remains in doubt

    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 ...

  Read More »
• 3 January

  Yen extends gains to strongest since ’22 after BOJ policy shift

  

  Bloomberg The yen advanced to a six-month high versus the dollar as Japan’s decision to raise its bond-yield cap last month stoked bets the nation may tighten policy even more. The currency appreciated as much as 0.8% to 129.79 per dollar, surpassing the level of 130.41 set in August, and reaching the strongest since June. Gains were exacerbated due to ...

  Read More »
• 3 January

  BOK pledges coordination to soften economic landing

  

    Bloomberg Bank of Korea (BOK) Governor Rhee Chang-yong said the central bank will do its best to coordinate policy with the government to ensure the economy has a soft landing at a time when the country faces an array of headwinds from falling exports to a weakening property market. The BOK will monitor financial and foreign exchange markets closely ...

  Read More »