World Bank chief says poorest countries owe $62 billion in bilateral debt

WASHINGTON, Dec. 1 (Reuters) – The world’s poorest countries now owe $62 billion in annual debt service to official bilateral creditors, a 35% increase over the past year, World Bank president David Malpass said on Thursday . increase the risk of payment defaults. Malpass told the Reuters NEXT conference in New York that two-thirds of … Read more

China real estate sector soars with fundraising support, but COVID protests cloud outlook

HONG KONG, Nov 29 (Reuters) – Shares and bonds of Chinese property developers surged on Tuesday after regulators lifted a ban on stock refinancing for listed companies, the latest bailout for a cash-stricken sector that has been a key pillar of the worldwide No. 2 economy. The move will make it easier for developers to … Read more

Asian equities benefit from the Chinese real estate rally

https://tmsnrt.rs/2zpUAr4 China real estate stocks rise on policy support Dollar Stabilizes After Bounce, Euro From 5-Month High US crude oil jittery after 2021 low SYDNEY, Nov 29 (Reuters) – Asian stocks rose higher on Tuesday as Beijing’s latest move to support developers boosted the real estate sector, though it was still not clear what new … Read more

Protesters and police clash over Adani harbor in Kerala, India; more than 80 injured

Billionaire Adani mega seaport project hit by protests Police clash with protesters late on Sunday as tensions rise Dispute over harbor construction causing coastal erosion Adani says it has all the necessary approvals for port development KOCHI, India Nov. 28 (Reuters) – More than 80 people were injured in India as villagers protesting the halt … Read more

China’s industrial profits continue to fall as COVID woes take its toll on the economy

Jan-Oct industrial profit -3.0% yr/yr versus -2.3% in Jan-Sept Risks of domestic COVID outbreaks and global recession highlighted BEIJING, Nov 27 (Reuters) – Chinese industrial companies saw aggregate profits fall further in the January-October period as COVID-19 outbreaks flared and cities imposed new virus restrictions, including targeted lockdowns, dampening economic activity. Industrial profits fell 3.0% … Read more

India’s first private rocket company aims to cut satellite costs

BENGALURU, Nov 26 (Reuters) – The startup behind India’s first private space launch plans to launch a satellite into orbit by 2023 and expects to be able to do so at half the cost of established launch companies, the founders said from Skyroot Aerospace to Reuters in an interview. The Hyderabad-based company, backed by Singapore’s … Read more

Adidas launches investigation into allegations of misconduct against Kanye West

Nov 24 (Reuters) – Adidas AG (ADSGn.DE) said on Thursday it has launched an investigation into allegations of inappropriate behavior by Kanye West after the German sporting goods manufacturer ended its partnership with the rapper and fashion designer last month. Adidas said it initiated the investigation after receiving an anonymous letter containing several allegations against … Read more

The US was preparing to allow Chevron to boost Venezuela’s oil production

US ready to allow oil giant to produce and sell Venezuelan oil Chevron owes billions in unpaid debts from the state-run PDVSA The US aims to siphon Venezuelan oil sales from shadow firms HOUSTON, Nov 23 (Reuters) – Chevron Corp could soon receive US approval to expand operations in Venezuela and resume oil trading once … Read more

Foxconn’s huge iPhone factory in China rocked by new worker unrest

Images on the internet show hundreds of workers protesting Surveillance cameras and windows smashed by men with sticks Workers complain about unpaid wages and insufficient food Foxconn says it is working to prevent a recurrence of violence SHANGHAI/TAIPEI, Nov 23 (Reuters) – Hundreds of workers took part in protests at Foxconn’s (2317.TW) flagship iPhone factory … Read more

Trump dismissed by New York fraud judge, trial date set

NEW YORK, Nov 22 (Reuters) – A New York judge has scheduled a trial in October 2023 against former US President Donald Trump, three of his adult children and the Trump Organization in a lawsuit brought by New York Attorney General Letitia James accusing them of fraudulently overvaluing the real estate company’s assets and Trump’s … Read more