China cuts interest rates as growth slows

China has unexpectedly cut a key interest rate for the first time in almost two years as official figures showed its economic growth had slowed.   GDP grew by 4% for the last three months of 2021 from a year earlier, the National Bureau of Statistics said.   That was better than most economists had […]

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UK economy above pre-Covid levels in November

The UK economy surpassed pre-Covid levels for the first time in November after recording stronger-than-expected growth.   The Office for National Statistics said gross domestic product (GDP) expanded by 0.9% between October and November.   That was higher than economists’ expectations and meant the economy was 0.7% larger than in February 2020.   But there […]

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World Bank warns on global economic outlook

The global economy faces a “grim outlook”, World Bank president David Malpass has warned, as the aftershocks of the pandemic continue to weigh on growth, especially in poor countries.   His organisation’s latest forecast predicts global growth will slow to 4.1% this year from 5.5% in 2021.   It attributed the slowdown to virus threats, […]

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US jobs growth slows

Hiring in the US slowed last month, as firms struggled to hire workers and continued to grapple with the effects of coronavirus.   Employers hired just 199,000 people in December, a second month of weaker than expected gains.   But the jobless rate dropped sharply to 3.9% and wages rose, the Labor Department said.   […]

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Taiwan sets up trade fund amid China row

Taiwan has said it will set up a $200m fund to invest in Lithuania as it tries to fend off Chinese diplomatic and trade pressure on the Baltic state.   Taipei said it aims to make its first investment later this year and the money is guaranteed by its national development fund and central bank. […]

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China investment firm’s shares slump after bailout

Shares in scandal-hit China Huarong Asset Management have closed down by 50% after a state-backed bailout of almost $6.6bn.   The company’s shares resumed trading on Wednesday after a nine-month suspension on the Hong Kong Stock Exchange.   Huarong rocked Asian stock markets in August last year when it revealed a record loss of close […]

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Canada progresses nationwide single-use plastics ban

Despite opposition from industry groups and provinces, the Government of Canada is moving forward with a comprehensive plan to address plastic pollution.   On 21st December, the Minister of Environment and Climate Change and the Minister of Health announced draft regulations under the Canadian Environmental Protection Act, 1999 (CEPA) banning certain single-use plastics deemed to […]

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