Global growth is expected to slow from 5.5% in 2021 to 4.1% in 2022 and 3.2% in 2023 as more nations start unwinding policy support, the World Bank said.
Tagged By banking
China’s Omicron-hit Tianjin launches new round of tests
The Chinese city of Tianjin started a new round of testing of its 14 million residents on Wednesday to block the Omicron variant, as financial analysts warned of the growing economic costs on China of…
World’s worst-performing bank Minsheng lent billions to China Evergrande
An ill-fated push into property lending has instead turned China Minsheng Banking Corp. into one of the biggest casualties of the real estate debt crisis that’s roiling Asia’s largest economy …
World Bank cuts China’s economic forecasts
The World Bank cut its GDP forecasts for China, and said new COVID-19 outbreaks, high debt and supply chain bottlenecks will jeopardise global economic activity.
China’s Dec PPI +10.3% y/y, CPI +1.5% y/y, slows from Nov
China’s factory-gate inflation rose at a slower pace in December as the prices of some raw materials fell, official data showed on Wednesday. The producer price index (PPI) climbed 10.3% from a year …
World’s Worst-Performing Bank Lent Billions to China Evergrande
It was once hailed as the future of Chinese banking, a privately run lender that would mint money by outmaneuvering its state-owned rivals.
Opening Remarks by World Bank Group President David Malpass during the Launch of the January 2022 Global Economic Prospects Report
Opening Remarks by World Bank Group President David Malpass during the Launch of the January 2022 Global Economic Prospects Report …
Taiwan’s minister announces USD 1bn funds to finance joint projects with Lithuania amid Chinese aggression
Taiwan and Lithuania will create a USD 1 billion credit program to finance joint ventures against a backdrop of a diplomatic row between Vilnius and Beijing ove …
Infobird Secures Contract for Digital Banking Solution with Changchun Rural Commercial Bank
Infobird Co., Ltd (Nasdaq: IFBD) (“Infobird” or the “Company”), a software-as-a-service provider of innovative AI-powered, or artificial intelligence-enabled, customer engagement solutions in China, …
World Bank Demands Faster G20 Debt Relief as Poor Nations Squeezed
Poorer developing nations are likely to need faster G20 debt relief, the World Bank said on Tuesday, as an increasing number face being squeezed by rising indebtedness and slowing growth. The pandemic …
China Probes Finance Ministry Official as It Cracks Down on Graft
China’s top anti-graft watchdog is investigating a finance ministry official, adding to the list of senior cadres brought down by an escalating crackdown on corruption.
Capital Flows to EM up in December, China Offsets Weakness Elsewhere – IIF
Net capital flows to emerging markets rose last month from November and fell more than 75% year-on-year, with China the main recipient as investors fear other economies will continue to underperform …
China’s industrial automation efforts give hope to struggling industries, but underlying problems persist
Pandemic-led manufacturing export boom, concerns over China’s rapidly ageing society and a desire to save money have all contributed to the trend of replacing workers with machines.
