Economy News

China’s massive trade surplus helped to offset capital outflows in the first half of the year, anchoring its balance of payments even as the Federal Reserve’s aggressive interest rate hikes fuel outflows from developed and emerging markets alike.

In recent months, the Federal Reserve made avoidable mistakes that fueled inflation. That's the view of a range of economists and policymakers, including some voting members of the Federal Open Market Committee. In the spring, some FOMC members called for...

Researchers at Yale University say the Russian economy is suffering massive damage due to Western sanctions, despite Moscow downplaying the effect. The authors claim their work casts doubt on Moscow's claims that the economy remains robust and that the We...

Nigeria and its oil wealth is a complicated story. The west African nation is the continent's biggest oil producer, and it ranks eleventh in global terms.But...

China Update is about China economic and political news and analysis, today we discuss, the Chinese economy, the housing market and fears of financial crisis, the Chinese mortgage strike plus other China news

Protesters stormed the president's official residence in Sri Lanka's capital Colombo after clashing with police and breaking through barriers. The march is the country's biggest demonstration after thousands called for the president to resign amid a huge...

Seeing no end to Sri Lanka’s fuel crisis, many are now cooking with firewood and charcoal stoves, and turning away from automobiles and towards bicycles. The South Asian nation has failed to pay for petrol and diesel imports and is suffering with prolonge...

Chinese President Xi Jinping is leading celebrations on the 25th anniversary of Hong Kong’s handover to Chinese rule. Events on July 1, 2022 include a flag-raising ceremony and the installation of the city’s sixth-term government.

Baihetan, China's first 2,000-tonne offshore wind farm installation vessel, was launched Wednesday in Guangzhou, south China's Guangdong Province.

As part of the Regional Comprehensive Economic Partnership (RCEP) agreement, an ocean freight logistics channel has opened between Qingdao in east China's Shandong Province and the Japanese port city of Osaka.

China Evergrande Group is facing a petition as an investor seeks to sue the Chinese property developer giant for not repurchasing shares of its unit.

China’s Industrial and Commercial Bank of China (ICBC) and China Merchants Bank have announced that some of their Robo-advisors would be suspended, explaining that it was to comply with regulatory requirements.

A searing heatwave has swept across northern and eastern China, causing extreme temperatures. On June 24, 2022, Zhengzhou topped 42.3 degrees Celsius (108°F), breaking the heat record in June since 1954.

Sri Lanka announced a two-week ban on fuel sales for all non-essential services, starting from June 28, 2022, as the island nation faces its worst economic crisis in 70 years. Schools have also been shut to reduce the need for commuting, and the governmen...

A China-funded airport in southwestern Pakistan is scheduled to be completed by mid-September 2023, four years after work began on the US$230 million project. The New Gwadar International Airport project is in Pakistan’s Gurandani area, some 26km (16 mile...

A new warning says the Covid-19 pandemic and Russia’s invasion of Ukraine mean the global economy might be on the brink of high prices and low economic growth.