Tag: economy
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Trade down on weak global demand, virus curbs
China’s trade shrank in October as global demand weakened and anti-virus controls weighed on domestic consumer spending. Exports declined 0.3% from a year earlier to $298.4 ... -
Huawei says revenue down 2.2% so far this year
Chinese tech giant Huawei’s revenue rose in the latest quarter as infrastructure sales helped to offset damage to its smartphone business under U.S. sanctions, according to ... -
China to further encourage foreign investment, push globalization
China will further intensify its efforts to encourage foreign investment, an official with the country’s top economic planner said yesterday. Zhao Chenxin, deputy director of the ... -
Hong Kong shares soar 5%, leading Asian market gains
Hong Kong’s share benchmark soared more than 5% yesterday as Asian shares tracked gains on Wall Street. New Zealand’s share benchmark rose 0.7% after its central ... -
OPEC+ weighs large oil cutback to boost sagging prices
The OPEC+ alliance of oil-exporting countries yesterday will debate a potentially large cut in the amount of crude it ships to the global economy — a ... -
UM forecasts economic growth to drop up to 29% in 2022
The University of Macau (UM) estimates that economic growth will drop between 26.4% and 29.2% this year. This is followed by a drop between 31.3% and ... -
High inflation in sight, US Federal Reserve to signal more rate hikes ahead
Last month, when Federal Reserve Chair Jerome Powell spoke at an economic conference in Jackson Hole, Wyoming, he issued a blunt warning: The Fed’s drive to ... -
Group expects Prosperity Index to remain low from August to November
The Macau Economic Association has announced that it expects the city’s Prosperity Index to remain at a low level – 1.8 or 1.9 points – from ... -
Premier Li highlights central role of consumption
Premier Li Keqiang has underlined efforts to promote the role of consumption as the major driver of economic growth and to expand effective investment in order ... -
Buffett’s company trims its stake in Chinese EV maker BYD
Warren Buffett’s company has trimmed its stake in Chinese electric car and battery maker BYD for the first time since it bought the shares in 2008, ... -
Economy shrinks by nearly 40% amid pandemic woes
The city’s economy contracted 39.3% year-on-year in the second quarter of 2022 amid the pandemic outbreak in the neighboring regions, which affected the city’s border restrictions, ... -
Beijing cuts interest rate to shore up stagnation
China’s central bank trimmed a key interest rate yesterday to shore up sagging economic growth at a politically sensitive time when President Xi Jinping is trying ... -
German FinMin pitches usd10b tax cut plan to dampen inflation
Germany’s finance minister said yesterday that the government plans to make tax cuts worth more than 10 billion euros ($10.2 billion) to benefit broad sections of ... -
Near 150 ex-offshore companies convert to normal operations
According to the government, 147 former offshore companies have retained their existing business names and started operating without an offshore license. The disclosure was made by ... -
Inflation surges to new 40-year high of 9.4%
Inflation in the United Kingdom has accelerated to a new 40-year high, driven by rising food and fuel prices that are contributing to a cost-of-living crisis. ... -
Economic group expects Prosperity Index to reach trough this month
As the city faces economic challenges amid the present Covid-19 outbreak, its Prosperity Index will likely see its lowest point in July, the Macau Economic Association ... -
Trade surplus surges to record as exports accelerate
China’s monthly trade surplus soared to a record $97.9 billion in June as export growth picked up after anti-virus controls that shut down Shanghai were lifted ... -
Q1 GDP 50% lower than pre-pandemic levels
The Macau SAR’s gross domestic product (GDP) has declined further, by 8.9% year-on-year in real terms in the first quarter of 2022, as a result of ... -
Group expects economy to run slow from May to July
Macau Economic Association (MEA) forecast the city’s economy to experience a low growth in the months from May to July, with the Prosperity Index expected to ... -
Trade weakens after cities shut down to fight virus
China’s export growth tumbled in April as global demand weakened, adding to pressure on the world’s second-largest economy after Shanghai and other industrial cities were shut ... -
Economy shrinks 4% under anti-virus controls
Hong Kong’s economy shrank by 4% compared with a year earlier in the quarter ending in March after the Chinese territory shut restaurants and other businesses ... -
Economy grows still-weak 4.8% in January-March
Chinese leaders face pressure to shore up sinking economic growth after Shanghai and other cities shut down to fight coronavirus outbreaks, threatening to disrupt global trade ... -
Fitch lowers SARs’ economic growth forecast
Fitch Ratings forecasts Macau’s economy will only expand by 19% in 2022, based on the assumption that gaming revenue will recover to about 44% of its ... -
Breaking News: Casinos 30pct down in December, 2.5pct over the year – report
Macau’s casinos are going to end December with a year-on-year fall of somewhere between 30% and 32% and an annual drop of about 2.5% compared with ...
