China’s PBOC Surprised by Countering Western Central Banks while Cutting Interest Rates
China lowered a key interest rate for the first time since the peak of the pandemic in 2020 as a property-market slump and repeated virus outbreaks dampened the nation’s growth outlook. Bonds rallied.
Turkey’s Lira Finished Worst Year in Two Decades under Erdogan
Turkey’s lira – by far the worst performer in emerging markets in 2021, as well as in the last few years – shed 44% of its value against the dollar over the year and 19% in the last week alone.
Inflation Continues to Beat Forecast in Great Britain, but BoE Has Hundred Reasons Not to Hike Immediately
According to the British ONS, UK inflation hit a decade high of 5.1% in November.
Indian Economy Sees New Crucial Threats from Omicron Variant
UBS said “New flare-ups of Covid infections [both ongoing and yet coming] in India, and particularly the emergence of new Covid strains against which currently available vaccinations provide little or no protection are probably the biggest downside risk,”.
China Becomes Concerned about “Quasi-Stagflation” as Developers Face Mounting Troubles
According to Bloomberg, Liu Shijin, an adviser to the People’s Bank of China, the country’s economy may face a period of “quasi-stagflation” with relatively slow growth and excessively high producer-price inflation.
Food Prices Keep Rising Globally
The United Nations unveiled that global food prices have surged to the highest level in more than a decade, driven by robust demand, supply bottlenecks and lackluster harvests.
British Finance Minister Rishi Sunak is Upbeat on U.K.’s Economy and His Spending Plans
Multi-billion pound spending on health care services and transport were among the plans British Finance Minister Rishi Sunak announced in his latest budget statement on Wednesday.
China Evergrande Shares Nosedived Again – Now on Failed Partial Buyout Deal
Beleaguered property insurance behemoth China Evergrande disclosed it was negotiating to sell part of its business to Hopson Development Holdings, its smaller rival.
It’s Harder for Tesla to Build Wide Presence In China. A Hundred-Thousand Cars Landmark Reached in Only 12 Years, While China’s Xpeng and Nio Took About Half That Time
U.S.-listed start-up Xpeng reported having reached production of 100,000 cars — in just 6 years since the company went public.
Share Trading in Embattled China Evergrande Finally Halted in Asia
Today is the day when all lingering doubts and bad anticipations are finally resolved.
Merkel's party lost the elections in Germany
In Germany, parliamentary elections were held, and votes have been counted.
China’s Financial Regulator Ordered Ant Group’s Alipay to Uncover its Lending Business and Disclose Borrowers
Official Beijing plans to break up Ant Group’s Alipay and create a separate application for the fintech giant’s loans business.
Mercedes-Benz launches EQB, up-to-7-seat electric SUV to compete against Tesla Model Y
Mercedes-Benz is launching today the EQB, an electric SUV with up to seven seats, ahead of the IAA Mobility show in Germany.
New Zealand Abruptly Locks Down after One Delta Positive Person Tested. Kiwi under Pressure
New Zealand has entered full lockdown mode after recording its first case of the delta variant.