Markets

Global Stocks Rally Eyeing China Reopening

Global stock markets rallied Tuesday on hopes that China will ease its weeks-long COVID lockdown and gradually reopen businesses.European exchanges closed higher and Wall Street's main indices also rose, spurred as well by a nearly one-percent rise in April retail sales."We've seen a much more positive vibe around European equity markets today, with reports out of Asia suggesting that China might be close to looking to ease some of its COVID restrictions, as case rates come dow

18 May 2022
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Thailand’s Battered Tourism Struggles To Rebuild

At Railay Beach, an Instagrammers’ favourite known for its wide, warm sands bookended by limestone cliffs, 23-year-old Londoner Becca sips coffee and savours the return of Thai backpacking following a recent easing of entry requirements.“We saved our money, quit work and travelled here,” she said of her months-long trip with friends, which was impossible during the last two years lost to the pandemic.

16 May 2022
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Asian Stocks Up But Investors Fear Recession

Asian equities were up on Monday after a rally on Wall Street last week, but analysts say fears of a recession due to surging inflation and COVID-driven supply chain woes still have investors worried.World markets have been volatile for much of 2022, fuelled by uncertainty over supply chain snarls due to China's lockdowns, inflation pressures and European anxiety over the Ukraine war.Wall Street stocks closed Friday with a robust rally on tech-rich Nasdaq after a tumultuous week that saw

16 May 2022
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China's Retail Sales Lowest In Two Years

China's retail sales slumped to its lowest in two years while factory output plunged, official data showed Monday, capturing the dismal economic fallout from Beijing's zero-COVID policy.The world's second-largest economy has persisted with strict virus measures, choking up global supply chains as dozens of Chinese cities – including key business hub Shanghai – grapple with restrictions.Officials have vowed to support growth, lowering the mortgage rate for first-time homebuyers.

16 May 2022
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Asian Stocks Up, Investors Calm Over Fed Moves

Asian equities were mostly up Friday following a tumultuous trading period on Wall Street, which rebounded at the close after investors calmed down about United States (US) policies to counter surging inflation.World markets have been volatile for much of 2022 owing to China's COVID-19 lockdowns, Russia's invasion of Ukraine, and as surging inflation weighed on consumer sentiment.The Federal Reserve (Fed) last week had announced its largest rate hike since 2000 and signalled that si

13 May 2022
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Asian Markets Drop, Traders Brace For Fed Hike

Asia stocks mostly fell Tuesday as markets brace for a sharp United States (US) interest rate hike and similar moves by other central banks as they struggle to control inflation, with traders increasingly worried about another possible recession.Surging prices, moves to tighten monetary policy, China's COVID lockdowns, the Ukraine war and a stronger dollar have come together in recent weeks to cause a massive headache for investors, sending them running to the hills.All eyes are on the c

3 May 2022
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Qantas To Launch Longest Non-Stop Passenger Flight

Qantas announced on Monday it will launch the world's longest non-stop commercial flight, with passengers set to spend 19 hours in the air traveling from Sydney to London by the end of 2025.After five years of planning, the airline said it was ordering 12 Airbus A350-1000 aircraft to operate the "Project Sunrise" flights to cities including London and New York.Non-stop flights will start from Sydney by the end of 2025, it said, with long-haul trips later planned to include Melb

2 May 2022
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Can Twitter Be More Profitable Under Elon Musk?

Since going public in 2013, Twitter has only occasionally turned a profit, even if it has a commanding role in politics and culture worldwide.The company's announcement on Monday that it had reached a deal for Tesla boss Elon Musk to buy it outright raises the question of whether this will lead to a brighter financial future for Twitter?Musk has downplayed economic considerations as a motivation for his purchase, saying earlier this month at the TED2022 conference that, "This is not

27 April 2022
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Shanghai Expats Eye The Exit

As Shanghai’s strict lockdown grinds towards its second month, expatriate residents are heading for the exits, a trend that in the long term could threaten the city’s status as a global business hub.The government’s draconian restrictions have prompted rare rebukes from foreign business groups and resulted in the United States (US) ordering all non-emergency staff at its consulate to evacuate.

25 April 2022
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China’s Leadership Sounds Alarm On Economy

When Chinese Premier Li Keqiang called for a “sense of urgency” about growing economic risks during a meeting with provincial officials earlier this week, it was his third such warning in days.“We need to be highly vigilant for unexpected changes in the international and domestic situations, and downward economic pressure has further mounted,” China’s No 2 official told a symposium in Jiangxi province on Monday, according to a report in South China Morning Post, less than a week after drawing

15 April 2022
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Why Has Elon Musk Bought Into Twitter?

When the news broke last week that Elon Musk, the chief executive of Tesla and SpaceX and the world’s richest man, had paid US$2.9 billion (£2.3 billion) for 9.2 percent of Twitter, the media world – old and new – briefly lost what might loosely be called its collective mind. What was Musk up to? (He’s always up to something, after all, even if it’s just trolling.

10 April 2022
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Is A Global Recession Coming?

Could the world be headed for another recession?Just as the global economy is bouncing back from the COVID-19 pandemic, a growing list of risks is clouding the economic outlook – although most economists still believe a recession this year is relatively unlikely.The war in Ukraine, Russia sanctions, China’s “zero COVID” policies, spiking inflation, and interest hikes by the United States (US) Federal Reserve (Fed) are all set to crimp growth in 2022.The question is whether deteriorating condi

10 April 2022
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