Page 2 - Bloomberg News

China's economy braces for turmoil as Covid curbs ease, infections surge

The government's abrupt abandonment of its long-held Covid Zero strategy has made the outlook for the economy very uncertain as factories brace for disruption and labor shortages rise

IMF, World Bank raise concerns over worsening global economic outlook

The IMF currently forecasts global growth will be 2.7% next year, slowing from 3.2% this year

PM Modi to skip annual summit with Russia's Putin over Ukraine nuke threats

It would mark only the second time the leaders of India and Russia haven't met face to face since 2000, when the relationship was elevated to a strategic partnership

Putin says Russia may cut its oil output in response to G-7 price cap

A decision on Moscow's response to EU price cap will be announced in a presidential decree within the next several days, says Putin

Tesla to suspend output at its China factory partly due to slowing demand

Consumer demand for cars in China has been dented by the country's still strict approach to Covid

China eases curbs in major shift in 'zero Covid' policy to quell discontent

New measures include accelerating vaccination among the elderly and forbidding local officials to designate large areas, like entire housing compounds, as high-risk

China's politburo shifts focus to boosting economic recovery in 2023

The economy is expected to face bigger pressure from spiking Covid cases in the early stages of China's reopening

China's trade weakens to worst since first Covid lockdown as demand falls

The worsening trade performance is undermining a strong pillar of China's economy over the last two years, where the rise in exports to record levels have provided Chinese firms with stable demand

China's economic activity falls as Covid-19 cases surge to record

The economy is suffering increasing damage from tightened virus controls as Covid outbreaks spread in every province

China uses cops, social media censors, quiet Covid easing to stem protests

While the concessions to strict Covid Zero policies are minor, changes over the past few days have given hope to market watchers

China's industrial profits continue to decline amid tightening Covid curbs

Industrial profits in the January-to-October period fell 3.0% from a year earlier, data from the National Bureau of Statistics showed Sunday

China's iPhone city Zhengzhou sends 870 workers away without notice

The workers were transported to Xuzhou in Jiangsu province early Friday "without prior communications," the city's authorities said; it didn't say whether any of the people tested positive

Russia drafts decree banning sale of oil to price-cap participants

It would essentially ban any reference to a price cap in contracts for Russian crude oil or products, and prohibit loadings destined for any countries that adopt the restrictions

Delayed reopening may hit China's GDP growth rate by 1 point: Oxford report

If China pushes back its economic reopening to the first half of 2024, an anticipated recovery in private consumption will be delayed, says the report

ICBC leads big banks to offer $179 bn aid to China's real estate developers

China's priority has been to ensure that unfinished homes get completed, while supporting the stronger firms that have so far survived the crisis

Covid surge in Beijing triggers panic buying, lockdown-like restrictions

The case increase, which has escalated from under 100 infections a day a fortnight ago, is leading to stepped-up controls in Beijing, a city of 22 million

China to ramp up monetary stimulus as growth outlook darkens amid lockdown

The State Council said in a statement Wednesday that monetary tools "such as a RRR cut" will be used "in a timely and appropriate manner" to maintain reasonably ample liquidity

FTX fallout: Crypto markets on the back foot as investors pull funds

Investors continue to pull funds from digital-asset exchanges despite the latter's efforts to reassure markets about their stability.

Covid-19 lockdowns spark violent protests in China's Guangzhou City

In videos on social media, hundreds of people can be seen marching in the streets and pushing over police barriers in Guangzhou's Haizhu district, which has been in lockdown since late last month

Chip curbs: Biden has outdone Trump in forcing the world to align on China

That's not just a challenge to Beijing, but also asks tough questions of allies - and presents Washington with a dilemma over how far it's willing to squeeze them to comply.