Chinese youth unemployment hits record high as Covid recovery weakens
18 June 2023 | 10:18 am
New data shows Chinese economic growth slowing, with property investment in steep decline and youth unemployment at a record high. Also, the US Federal Reserve confirms its "hawkish pause" policy, keeping interest rates steady for now but planning for more hikes. Finally, economists name an unlikely culprit for persistent Swedish inflation: Beyoncé.
August 27, 2023
August 26, 2023
August 26, 2023
September 2, 2023
The COVID-19 pandemic may be over, but it's left a mark on travel habits and the hospitality industry.
As Zimbabweans head to the polls this Wednesday, we take a look at the dire economic straits the country finds itself in. Inflation has gone from the single digits in 2017 to 77 percent this month, the currency has crashed against the US dollar, and high unemployment has led many to emigrate. While incumbent President Emmerson Mnangagwa has played up improved infrastructure on the campaign trail, his opponent Nelson Chamisa detailed a plan that he says will build Zimbabwe into a $100 billion economy.
The health and cost-of-living crises has disproportionately affected the poor and women in developing Asia, hurting their chances of long-term improvement.
The lack of a data release for July comes as China's youth jobless rate surged to a record high in June. By covering up the "bad news," Beijing's intent could be to pacify a disillusioned generation.
Tokyo has summoned the Chinese ambassador over hundreds of crank calls believed to originate from China. Japan has begun to release treated water from the Fukushima nuclear power plant, which Beijing says is not safe.
China's largest property developer, Country Garden, warned that it is on the brink of default as it reported a staggering loss of almost $7 billion for the first half of the year, deepening a real estate crisis that threatens to unravel the country's already fragile economy.
After a mass in Mongolia attended by some groups of Chinese Catholics, the pope told them to be "good Christians and good citizens."
With more than 41 percent of exhibitors at the Munich IAA mobility show headquartered in Asia, analysts say European carmakers will need to prove their ability to compete with China in the electric vehicle age.
Germany's International Motor Show has opened in Munich with Chinese EV makers out in force, revving their new electric models on the turf of German carmakers. Some say the market will never be the same after the event.
Apple's market value has tumbled by some $200 billion in the wake of reports that Beijing has banned iPhones among government employees. We take a closer look. Also, Chinese car manufacturers make inroads into the European market, and New York City cracks down on Airbnb.
Chinese emergency teams are scrambling to track down a large number of crocodiles that escaped after heavy storms and floods that hit in recent days.
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Ukrainian President Volodymyr Zelensky is accused of buying two yachts in October with Western aid money, in the name of two of his closest aides. We tell you more in this edition of Truth or Fake.
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Nigeria's President Bola Tinubu on Tuesday ordered a thorough investigation into a weekend military drone attack that killed at least 85 people, including women and children, in northern Kaduna.
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