World economy

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Singapore’s air travel is rebounding despite China’s border restrictions, transport minister says

Air travel in Singapore is recovering and has reached around 40% of pre-Covid levels despite China’s border restrictions, Transport Minister…

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Business

Volkswagen chief says German car giant will overtake Tesla on electric vehicle sales by 2025

Diess said he expects Germany’s auto giant to create some momentum over the coming months. Jens Schlueter | Afp |…

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Business

Why China will likely recover more slowly from the latest Covid shock

As Shanghai tries to reopen businesses, one downtown district over the weekend banned residents from leaving their apartment complexes again…

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Business

Oxfam calls for an end to billionaire ‘bonanza,’ say millions are falling into extreme poverty

Olga Shumytskaya | Moment | Getty Images A new billionaire emerged every 30 hours during the Covid-19 pandemic, and nearly…

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Europe

Davos 2022: What to expect from this year’s World Economic Forum event

Eschewing the typical snowy alpine scenes that usually form the backdrop to the annual World Economic Forum (WEF) meeting in…

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Business

EV maker Lucid to accelerate plans with its Saudi Arabia factory, its first outside the U.S.

U.S. electric vehicle maker Lucid Group will set up its first overseas factory in Saudi Arabia, the company has announced.…

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Business

Goldman Sachs cuts its China GDP forecast to 4% on Covid controls

Since March, mainland China has struggled to contain its worst Covid outbreak in two years. Notably, the metropolis of Shanghai,…

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Business

Some factories might leave China, but in the grand scheme of things it doesn’t matter much

China still holds the cards for global supply chains, whether or not Covid lockdowns frustrate businesses in the near term.…

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Business

China’s economic data disappoint in April as Covid controls weigh

The persistent spread of Covid and resulting stay-home orders — primarily in Shanghai — forced factories to close or operate…

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Business

With floods and electricity shortages, South Africa’s economy is threatening to go into reverse

DURBAN, South Africa – April 16, 2022: Massive debris at the Durban harbor following heavy rains, mudslides, rain and winds…

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