BEIJING : China’s December new home prices declined at a slower pace compared with a month earlier, a private-sector survey showed on Saturday, offering a tentative sign of stabilising demand after authorities took steps to avert a hard landing for the market. New home prices in 100 cities fell 0.02per […]
Business
SEOUL: South Korea’s exports expanded at their fastest pace in 11 years in 2021, with the total export value reaching a record high, supported by post-pandemic recoveries in global demand. For the full year, exports rose 25.8per cent from a year earlier to US$644.54 billion, trade ministry data showed on […]
STOCKHOLM: Ikea will hike its prices by an average of 9 per cent next year due to ongoing supply and transportation disruptions, the company that operates most of the Swedish furniture giant’s stores said on Thursday (Dec 30). The announcement comes as pandemic-fuelled shortages and shipping challenges ramp up inflation […]
JAKARTA: Indonesia, Southeast Asia’s largest economy, will likely ratify its membership of the Regional Comprehensive Economic Partnership (RCEP) early next year, its chief economic minister said on Friday (Dec 31). The China-backed RCEP, the world’s biggest trade bloc, is set to enter into force on Jan 1, 2022. Details in […]
HONG KONG: Cathay Pacific Airways on Thursday said the latest tightening of quarantine restrictions on aircrew had led it to make significant changes to its flight schedule, including cancellations of passenger and cargo flights to and from Hong Kong. Hong Kong health authorities said on Tuesday the city would tighten […]
BEIJING: China’s foreign minister said today the United States will “face an unbearable price” over its actions towards the self-ruled island of Taiwan, in Beijing’s latest threat over the flashpoint island. Tensions between China and the US have soared in recent years over issues including human rights, trade and technological […]
SHANGHAI/HONG KONG : China Evergrande New Energy Vehicle Group started its first mass production on Thursday, two sources with direct knowledge of the matter said. Mass production for its inaugural Hengchi 5 sport-utility vehicles at its Tianjin production facilities came 12 days ahead of schedule, the people said, and the […]
SHANGHAI : China plans to sell a record amount of treasury bonds in 2022, while keeping overall interest rates of the issuance lower, as Beijing adopts a proactive policy to stabilize economic growth, a senior official at the finance ministry said. China will provide liquidity support for treasury bond […]
Chinese ride-hailing giant Didi Global has seen its losses deepen after Beijing ordered online stores not to offer the company’s app. The firm reported an operating loss of $6.3bn (£4.7bn) for the first nine months of year as revenues in China fell by 5% in the third quarter. The Chinese […]
Elon Musk has rejected claims that his Starlink satellite internet project is taking up too much room in space. “Tens of billions” of satellites can be accommodated in orbits close to Earth, he told the Financial Times. His comments come after a claim by the head of the European Space […]
