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The Latest Breaking News from Economy

90% of China could get COVID, warns one of Beijing's top medical advisors

Experts are warning of a massive exit wave as Beijing abandons costly and unpopular COVID-zero measures, like lockdowns, isolation and mass testing.

Fortune

Pederson: Syria's Status Quo Is In Nobody's Interest

Syrian Foreign Minister Faisal al-Mekdad on Wednesday discussed with the UN Special Envoy for Syria, Geir Pedersen, the latest developments related to the situation in Syria and the region. The official Syrian News Agency, SANA, said Pedersen presented the results of the tours and meetings he conducted over the past…

Asharq Al-Awsat

Thursday briefing: How to tackle the crumbling early-years childcare crisis

In today’s newsletter: Increasing costs and under-investment have left an industry struggling to survive. Could a radical overhaul not only help families but also boost the economy?

The Guardian - UK

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Biden approval, views of economy steady, sour: AP-NORC poll

President Joe Biden is facing consistent but critical assessments of his leadership and the national economy as his second year in the White House comes to a close

The Independent UK

Japan's economy shrank less in July-Sept, revised data show

Japan has reported its economy contracted less than previously thought in the last quarter, weathering the country’s latest big COVID wave with less damage than had been thought

The Independent UK

Industry group knocks Pheu Thai's 600B minimum wage

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) is opposing the Pheu Thai Party's pledge to raise the daily minimum wage to 600 baht because it could affect the business sector's competitiveness.

Bangkok Post

Pheu Thai clarifies wage-hike pledge

The Pheu Thai Party has clarified its election campaign promise to lift the daily minimum wage to 600 baht after it ran into heavy criticism, saying the wage will be raised only when the economy is back on track.

Bangkok Post

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10m foreign tourist target nears

The economy remains firmly on a path towards economic recovery despite growing uncertainties from inflation, geopolitical risks and a potential global recession next year, the finance minister said on Wednesday.

Bangkok Post

'Invisible' brides boost economy

Mail-order brides are those who register themselves in catalogues to be chosen by men for marriage. Since the mail-order bride industry forms an essential part of the informal economy in several underdeveloped and developing Asian economies, data misses the economic participation of Asian mail-order brides, making them "invisible" recruits in…

Bangkok Post

Putin Grips Economy Tighter to Supply Russian War Machine

After a string of battlefield losses in Ukraine in recent months, President Vladimir Putin faces a big test at home: mobilizing Russia's economy to feed the war effort.

Bangkok Post

Anwar Ibrahim Finally Won Malaysia’s Worst Job

The new prime minister has a grueling task ahead of him.

Foreign Policy

Wall Street's ‘Dr. Doom’ says a severe recession will cause stocks to drop 25%—and warns zombie companies are in danger

Even if the U.S. economy experiences only a “short and shallow” recession, “Dr. Doom” sees stocks falling another 15%.

Fortune

Experts raise concerns as Nigeria limits cash withdrawals

Experts raised concerns over a new policy announced by the Central Bank of Nigeria that heavily limits withdrawals of money in a push for a cashless economy

The Independent UK

3 Value Stocks You Need to Take Seriously in 2023

The stock market has remained highly volatile amid the ongoing macroeconomic uncertainties. Although the economy is showing resilience, recession fears are widespread. With value investing gaining traction, we believe fundamentally sound value stocks Lockheed Martin (LMT), Cigna Corporation (CI), and Albertsons (ACI) are great additions to your portfolio now. Read…

StockNews.com

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Businessweek

China Is the Wild Card for Global Inflation in 2023

The country’s long-awaited emergence from Covid Zero would ignite its economy and put upward pressure on prices around the world.

Evening Standard

Is the party over for hospitality? The rise of ‘premium economy’ in the match day box

The days of a prawn sandwich and glass of fizz at half time might be over as you know it. Matt Rogan on the reinvention of sports hospitality - and why there’s now something for everyone

The Independent UK

Africa forum hails 'circular economy' solutions for climate

Reducing waste while boosting recycling and reuse, known as the ‘circular economy,’ will be vital for halting the loss of nature by meeting growing demand with fewer resources and will make communities more resilient to climate change by encouraging more sustainable practices on the African continent, organizers of the World…

The Guardian - AU

The RBA keeps slamming on the brakes, but the economy has already very much slowed down

GDP figures show wages and not just profits are starting to generate growth. Still, disposable income is going backwards

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Reuters

Mozambique court finds former president's son, others guilty over $2 billion scandal

A Mozambican court on Wednesday found a former president's son and 10 other people guilty on charges related to a $2 billion "hidden debt" scandal that crashed the southern African nation's economy, sentencing them each to more than 10 years in prison.

Fortune

Goldman Sachs CEO says clients are shifting away from supply chain resiliency to keeping headcount down, but 'I'm not hearing panic'

Big banks weigh in on inflation, a pending recession, and consumer spending.

The New Daily

‘Mighty’ shoppers drive the economy as millions splurge before Christmas

The strength of consumers spending right now has many economists scratching their heads ahead of Christmas but a "reckoning" looms.

Reuters

Factbox-China's rigid zero-COVID-19 policy starts to thaw

China unveiled new measures to ease some of the world's toughest COVID-19 curbs on Wednesday, after three years of a "zero-COVID" policy that triggered widespread protests and hammered the economy.

Chicago Tribune

Commentary: The G-7′s price cap gamble on Russian oil is an untested idea

The United States and its allies in Europe have spent the last 10 months turning the screws on the Russian economy in retaliation for Vladimir Putin’s war on Ukraine. The Western coalition blocked Russia from accessing around half of its more than $600 billion in foreign reserves, disconnected multiple Russian…

Asharq Al-Awsat

Asian Equities, Oil Prices Dragged by Recession Fears

Asian investors extended a sell-off across global markets Wednesday while oil held losses on growing fears Federal Reserve monetary tightening will tip the US economy into recession. The drop followed another day deep in the red for New York's three main indexes after the heads of Wall Street's leading banks…

Reuters

Businesses want COP15 nature summit to deliver clarity

As government officials begin negotiating Wednesday toward a hoped-for deal to protect the wildlife and resources that prop up the global economy, investors are looking for one thing above all - clarity.

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