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Beijing, China | AFP | Sunday 4/23/2023 by Sébastien RICCI Pummelled by a housing crisis that caused a record-breaking slump last year, some Chinese property developers are starting to see light at the end of the tunnel, but analysts warn the sector is still on course to slow down in the long term. The real estate industry grew at lightning speed after restrictions were eased in 1998 across China, a country where buying a home […]
by Morgann JEZEQUEL Agence France-Presse RIO DE JANEIRO, Brazil (AFP) — On his farm in the state of Mato Grosso, Brazil’s grain basket, Ilson Jose Redivo finished planting his corn crop a few weeks ago, acting quickly once he’d harvested the soybeans that he’d grown on the same fields. In this region of west-central Brazil, the fields stretch as far as the eye can see and the schedule is well established: The farmer plants the […]
Johannesburg, South Africa | AFP | Wednesday 4/19/2023 Inflation in South Africa edged higher in March with food prices recording the highest year-on-year jump in more than a decade, official figures showed Wednesday. Inflation for food and non-alcoholic beverages continued to accelerate and was up 14 percent on March last year, national statistics agency StatsSA said in a statement. “This represents the largest annual increase since the 14.7% rise in March 2009,” the agency said. […]
by Sébastien RICCI Agence France-Presse BEIJING, China (AFP) — China’s economy grew much better than expected in the first three months of the year as the country reopened after the end of zero-Covid measures, official data showed Tuesday. The figures were the first snapshot since 2019 of the world’s second-largest economy unencumbered by the strict health controls that helped keep the coronavirus in check but battered businesses and supply chains. After years of travel restrictions […]
by Ismail Bellaouali Agence France-Presse RABAT, Morocco (AFP) — Soaring inflation in Morocco is driving up living costs and stirring public anger, and as food prices increase the country’s export-led agricultural model is coming under fire. On April 8, protesters gathered outside parliament in the capital Rabat, with some saying “The rise in prices is a disgrace” and: “We’re an agricultural country but vegetables are too expensive.” Official figures from February put year-on-year inflation in […]
by Daniel AVIS Agence France-Presse WASHINGTON, United States (AFP) — Countries must do more to avert the costly consequences of growing global trade fragmentation and help avert a “second Cold War,” the International Monetary Fund’s managing director said Thursday. “I am among those who know what are the consequences of a Cold War: it is loss of talent and contribution to the world,” Kristalina Georgieva said during a press conference at the official start of […]
BEIJING, China (AFP) — China’s exports rose in March for the first time in six months, customs data showed Thursday, as the world’s second-largest economy continued its recovery following the end of onerous coronavirus curbs late last year. The 14.8 percent surge in overseas shipments marked the first since September, according to the General Administration of Customs, and will provide a boost to hopes for a lasting rebound. Beijing long maintained some of the world’s […]
BEIJING, China (AFP) — Japanese tech investment titan SoftBank has decided to sell nearly all of its stake in Alibaba to limit exposure to China, the Financial Times reported Thursday. SoftBank was an early investor in the Chinese internet giant founded by Jack Ma but began to offload its shares last year. According to the report, SoftBank, which once owned 34 percent of Alibaba, has sold more than $7 billion of its shares since the […]
Washington, United States | AFP | Wednesday 4/12/2023 Global government debt is on track to reach levels not seen since the height of the Covid-19 pandemic, the International Monetary Fund (IMF) warned on Wednesday. China and the United States are responsible for the vast majority of the expected debt increase over the next five years, the head of the IMF’s Fiscal Affairs department, Vitor Gaspar, told AFP in an interview. He was speaking ahead of […]
TEGUCIGALPA, Honduras (AFP) — A Chinese delegation met with officials in Honduras Tuesday to thrash out bilateral economic agreements to build on official diplomatic ties established last month, the foreign ministry said. Honduras cut ties with Taiwan to switch its diplomatic allegiance to China. China considers the self-ruled, democratic island a part of its territory to be retaken one day, and does not allow countries to recognize both Beijing and Taipei. A senior Chinese delegation […]
Tokyo, Japan | AFP | Monday 4/10/2023 Japan’s new central bank chief said Monday no major rate hikes were on the horizon, and that a long-standing loose monetary policy remained “appropriate”. Kazuo Ueda took over this month from Haruhiko Kuroda, the bank’s longest-serving governor and architect of a monetary policy intended to help boost the world’s third-largest economy. Ueda, 71, takes the reins with the central bank under pressure to join international peers that have […]
MEXICO CITY, Mexico (AFP) — The leaders of 11 Latin American nations, including its two biggest economies, Brazil and Mexico, announced on Wednesday a plan to work together to address rampant inflation. The initiative was unveiled after a virtual meeting convened by Mexican President Andres Manuel Lopez Obrador. He said the aim was to give people access to “food and basic products at better prices” through steps such as removing import tariffs and other trade […]
