IMD Report: Hong Kong Rises to 5th Place in Global Competitiveness
Hong Kong climbs to fifth place in the IMD World Competitiveness Ranking, reflecting its economic recovery and strategic initiatives to enhance global competitiveness.
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Comprehensive coverage of economic and business news worldwide, with a strong focus on Asia’s emerging markets, trends, and opportunities.
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Protests in Kenya Over Rising Costs Turn Deadly
One person was killed and 39 injured in nationwide protests across Kenya against rising living costs and a controversial finance bill proposing tax increases. Demonstrations are set to escalate with a national strike planned for June 25.
China Criticizes EU’s Extensive Demands in Electric Vehicle Subsidy Probe
China criticizes the EU’s extensive information demands in an EV subsidy probe, stating they exceed necessary scope and lack legal basis.
China’s Overseas Investment Grows by 16.3% in First Five Months
China’s non-financial outbound direct investment surged by 16.3% year-on-year to $60.2 billion in the first five months, showcasing strengthened cooperation with global partners.
Malaysian Minister Sees Multilateralism Boosting China-Malaysia Trade
Malaysia’s Minister of Investment, Trade and Industry, Tengku Zafrul, expresses optimism that multilateralism will boost China-Malaysia trade as both nations approach 50 years of diplomatic relations in 2024.
Chinese Premier Li Qiang and Malaysian PM Anwar Strengthen Economic Bonds at Kuala Lumpur Luncheon
Chinese Premier Li Qiang and Malaysian Prime Minister Anwar Ibrahim met in Kuala Lumpur to strengthen economic ties, emphasizing new opportunities for businesses amid deepening bilateral relations.
China Considers Provisional Anti-Dumping Duties on EU Pork Imports
China may impose provisional anti-dumping duties on EU pork imports following an investigation into alleged dumping practices that may harm its domestic industry, according to the Ministry of Commerce.
China Opposes U.S. Sanctions on Chinese Firms Over ‘Russian Involvement’
China voices firm opposition to recent U.S. sanctions imposed on Chinese firms over alleged Russian involvement, calling the measures unjustified and lacking international legal basis.
Overcapacity: A Natural Step in Industrial Maturity—Lessons from U.S. History
Overcapacity in industries is often an unavoidable phase in the journey from emerging to mature sectors. Historical patterns from U.S. industries offer insights for Asian markets facing similar challenges.
President Xi Jinping Congratulates World Intelligence Expo 2024 in Tianjin
Chinese President Xi Jinping sent a congratulatory letter to the World Intelligence Expo 2024 in Tianjin, emphasizing AI’s role in global development and China’s commitment to international cooperation.
Mexico’s New Interoceanic Railroad Aims to Boost Industry and Offer Alternative to Panama Canal
Mexico launches its Interoceanic Railroad linking the Pacific and Atlantic coasts, offering an alternative to the Panama Canal and impacting global trade routes, including those involving Asia.
Boeing CEO Faces Lawmakers Over 737 Max Safety Concerns
Boeing CEO Dave Calhoun appeared before lawmakers to address critical concerns over safety standards following whistleblower revelations about lapses linked to 737 Max incidents.
U.S. Commemorates Juneteenth Amid Ongoing Struggle for Equality
The United States commemorated Juneteenth, marking 159 years since the end of slavery. The holiday reflects on past struggles and highlights the ongoing pursuit of racial equality.
Malaysia Lauds China’s Poverty Alleviation Model on 50th Diplomatic Anniversary
Malaysian officials from Kampar praise China’s innovative poverty alleviation model during the 50th anniversary of diplomatic ties, urging strengthened cooperation.
HKEX CEO Bonnie Chan Highlights Complementary Strengths with Chinese Mainland Exchanges
At the 2024 Lujiazui Forum in Shanghai, HKEX CEO Bonnie Chan emphasized the complementary strengths of Hong Kong and Chinese mainland exchanges, highlighting efforts to create a diversified market for enterprises.
China’s Vital Role in Global Economic Stability Highlighted by WEF Greater China Chair
WEF Greater China Chair Chen Liming highlights China’s crucial role in stabilizing the global economy, noting raised forecasts and contributions amid international turbulence.
China Unveils Reforms to Enhance STAR Market Innovation
China’s securities regulator announces measures to deepen STAR Market reform, aiming to boost sci-tech innovation and develop new productive forces.
Global Economy Strained as U.S. Fed Maintains High Interest Rates
The U.S. Federal Reserve’s decision to maintain high interest rates continues to strain the global economy, with emerging markets facing currency depreciation and liquidity challenges.
Stephen Roach Highlights China’s Crucial Role in Global Green Transition
Stephen Roach, former chief economist at Morgan Stanley, emphasizes China’s essential capacity in the global transition to green energy, asserting there’s no ‘overcapacity’ in combating climate change.
China’s Financial Regulators Outline Supportive Monetary Policies at Lujiazui Forum
At the 15th Lujiazui Forum in Shanghai, leaders from China’s top financial regulators, including PBOC Governor Pan Gongsheng, outlined supportive monetary policies to promote high-quality economic development.