Germany’s Defense Minister Boris Pistorius was part of the the Shangri-la Dialogue, Asia’s largest security forum, over the weekend. Picture Alliance | Picture Alliance | Getty Images SINGAPORE — China’s growing dominance and power may be a concern for countries around the world, but one thing’s for certain: talks must […]
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Oil prices rise after Saudi Arabia pledges more voluntary production cuts
Imaginima | E+ | Getty Images Oil prices rose following OPEC kingpin Saudi Arabia’s decision to cut production by another million barrels per day. On Sunday, the Organization of the Petroleum Exporting Countries and its partners (known as OPEC+) made no changes to its planned oil production cuts for the […]
Air travel to be disrupted by ‘very frustrating’ supply chain issues, IATA’s Willie Walsh says
Supply chain issues will impact air travel in 2023, IATA director general says. Juliette Michel | Afp | Getty Images Air travel will be affected by “very frustrating” supply chain issues this year, according to Willie Walsh, director general of the International Air Transport Association, as he discussed the challenges […]
U.S. and China trade barbs at top security summit as Taiwan Strait tensions simmer
SINGAPORE — A handshake and a ministerial lunch were all that the U.S. defense chief and his Chinese counterpart shared on the sidelines of a regional security summit in Singapore. Ahead of the annual Shangri-La Dialogue which kicked off Friday, Beijing rejected a U.S. request for a bilateral meeting between […]
Europe is struggling with a precarious water situation ahead of another drought-riven summer
A view of the drought that affected the Los Bermejales reservoir which is at 18% of its capacity in Arenas del Rey in Granada, Spain, on May 13, 2023. Anadolu Agency | Anadolu Agency | Getty Images European policymakers are battling to get to grips with a growing water crisis […]
Erdogan’s new pick for Turkish finance minister has markets hoping for economic orthodoxy
Turkey’s President Recep Tayyip Erdogan has named former economy chief Mehmet Simsek as his new treasury and finance minister. Source: World Economic Forum In the unveiling of his new cabinet, Turkey’s President Recep Tayyip Erdogan named former economy chief Mehmet Simsek as his new treasury and economy minister, leading to […]
Is China heading for Japan-like stagnation? Economist says the worst is likely behind us
A food delivery worker sits outside a restaurant at a shopping mall in Beijing on May 30, 2023. Jade Gao | Afp | Getty Images BEIJING — China’s economic recovery from the pandemic is set to broaden, meaning the country isn’t headed toward Japan-style stagnation just yet, according to Macquarie’s […]
Oil prices pop after Saudi Arabia pledges more voluntary production cuts
Imaginima | E+ | Getty Images Oil prices rose following OPEC kingpin Saudi Arabia’s decision to cut production by another million barrels per day. On Sunday, the Organization of the Petroleum Exporting Countries and its partners (known as OPEC+) made no changes to its planned oil production cuts for the […]
IMF chief says there’s no significant slowdown in lending and the Fed may need to do more
Georgieva says she had to work “twice as hard” to be equal to her male colleagues. Drew Angerer / Staff / Getty Images The International Monetary Fund has yet to see enough banks pulling back on lending that would cause the U.S. Federal Reserve to change course with its rate-hiking […]
Oil prices pop 2.5% after Saudi Arabia pledges more voluntary production cuts
Imaginima | E+ | Getty Images Oil prices jumped following OPEC kingpin Saudi Arabia’s decision to cut production by another million barrels per day. On Sunday, the Organization of the Petroleum Exporting Countries and its partners — collectively known as OPEC+ — made no changes to its planned oil production […]