US Treasury Secretary Scott Bessent said he will hold his first introductory call with his Chinese counterpart on Friday, and reiterated longstanding US calls for its biggest geostrategic rival to rebalance its economy toward domestic consumption. “I do have my first call with my Chinese counterpart tomorrow morning, so I look forward to a very…
The leaders of more than half of Africa’s nations gathered this week in Dar es Salaam, Tanzania’s sprawling seaside metropolis, to commit to the biggest burst of spending on electric-power generation in Africa’s history. The World Bank, African Development Bank and others are pledging at least $35 billion to expand electricity across a continent where…
Crude oil prices were heading towards a weekly gain earlier today following an update from the World Bank on the growth prospects of the Chinese economy next year. Brent crude was trading at $73.18 per barrel at the time of writing, with West Texas Intermediate at $69.58 per barrel, after the World Bank revised upwards…
BANGKOK (AP) — China’s economy grew a bit more in 2023 than earlier thought, but the revision has not affected forecasts for “about 5%” growth in the GDP this year, the government said Thursday. The estimate for total economic activity, or GDP, in 2023 for the world’s second largest economy was increased by about 2.7%…
Chinese President Xi Jinping has warned there will be no winner in a tariff or tech war between China and the US and vowed that Beijing would firmly safeguard its interests. The comments came after US president-elect Donald Trump told US broadcaster NBC on Friday that he and Xi “have been communicating with each other…
Caravans of sand-filled trucks and bright red cranes punctuate the skyline of a rapidly expanding industrial complex in northern Vietnam. Further south in Malaysia, quiet villages and palm oil plantations are metamorphosing into heavy-duty technological manufacturing estates. As multinationals, governments and startups rush to develop AI, establish chipmaking hubs and carve out access to raw…
These were the key developments on the 1,003rd day of the Russia-Ukraine war. Here is the situation on Saturday, November 23: Military Russian President Vladimir Putin has promised more combat test-firing of an experimental hypersonic missile – the Oreshnik – which was launched at Ukraine on Thursday. Ukraine is seeking updated air defence systems from…
Chinese President Xi Jinping called for reform of global institutions and emphasised his government’s shared views with Brazil on international matters, including the Ukraine war, ahead of his state visit to the South American nation. In a wide-ranging opinion piece published in Brazil’s leading newspaper Folha de S. Paulo, Xi stressed the importance of increasing…
The resolution charts a new course for Hong Kong’s high-quality development, injecting significant momentum into the city’s governance and prosperity. Hong Kong already has three advantages in this regard. Hong Kong now has a safer, freer and more open society, as well as a predictable business climate, ushering in a great period for reviving the…
US Treasury Secretary Janet Yellen has met with China’s deputy central bank governor Xuan Chengneng in Washington this week to discuss coordination on financial market monitoring and money laundering. The talks this week marked a continuation of the sixth meeting of a bilateral economic working group and took place on the sidelines of the annual…