The Global Economy Is at Risk of Recession, World Bank Warns
It warned weaker growth in the U.S., Europe and China will bring the global economy close to a recession
Economy
‘It’s miserable’: CRAB Park resident can’t wait to leave as province finalizes action plan for encampments
Two months after David Eby promised to address encampments on Vancouver’s Downtown Eastside, the province is finalizing an action plan to get vulnerable populations housed.
Iran ‘resumes exports to Saudi Arabia’ amid diplomatic process
An Iranian economic expert says the country has resumed sales to Saudi Arabia despite troubled ties between the two neighbors, with the value of exports to kingdom having reached around $15 million in seven months.
Australia’s battered tourism puts hope in China’s reopening
Tourism-reliant businesses are hopeful the return of Chinese visitors will revive the sector from the pandemic slump.
Global food prices hit record high in 2022 amid drought, war: UN report
Last year, the U.N. organization’s Food Price Index hit the highest level since they began keeping records in 1961, according to FAO data.
Flexible work schedules ‘win win’ for employees and businesses: UN report
The report by the International Labour Organization says giving workers flexibility in terms of where and when they work can be win-win for both employees and businesses.
China may ease ‘three red lines’ property rules: Bloomberg
Strict lending rules were introduced in 2020 to tackle property developers’ unbridled borrowing.
Samsung says it expects lowest quarterly profit in 8 years
South Korean tech giant blames weak demand for memory chips for sharp decline in profits.
Tired of the grind, China’s well-off eye slower pace in Thailand
Chinese social media is abuzz with the benefits of moving to the Southeast Asian country after years of COVID curbs.
US waged war on China’s chips; S Korea, Taiwan felt the fallout
Washington’s bid for self-sufficiency in semiconductors is complicating relations with its tech-savvy partners in Asia.