Thailand’s industrial output contraction slows in May on July 2, 2023Thailand’s industrial output fell for the 8th consecutive month in May with exports remaining sluggish despite a small growth in industrial product shipments, data showed on Friday. The country’s manufacturing production index (MPI) dropped 3.14 percent last month from a year earlier, marking the lowest contraction since February, according to the Ministry of Industry. However, […]
New Zealand bans new coal boilers, phases out existing ones by 2037 on July 2, 2023New Zealand is delivering on its climate commitment to ban new coal boilers and to phase out existing ones by 2037, Energy and Resources Minister Megan Woods said on Friday. The government’s decisions will reduce emissions by about the same amount as 100,000 cars would produce in a year, Woods said. “Currently, more than half […]
EU leaders fail to reach consensus on migration on July 2, 2023European Union (EU) leaders failed to reach consensus on migration Friday after a two-day summit. Poland and Hungary continued to oppose a proposed obligation for EU countries to welcome migrants to their land or else pay a fee of 20,000 euros (21,826 U.S. dollars) for each migrant. European Council President Charles Michel said in a […]
Mercedes-Benz to further invest in China: chairman on July 2, 2023Mercedes-Benz is planning further investments in China, thus contributing to Sino-German cooperation, Ola Kaellenius, the German carmaker’s chairman of the board of management, said recently in an interview with Xinhua. Kaellenius was speaking with appreciation for the opportunity to participate in the China-Germany inter-governmental consultation and to meet Chinese Premier Li Qiang last week. During […]
Chery listed in China’s Top 50 Global Brands in 2023 on June 29, 2023Report conducts in-depth research on users in 11 overseas markets, including the United States, United Kingdom, France, Germany, Australia, Japan and India Chery brand ranked first in the automotive category at the China’s Top 50 Global Brands in 2023. This is the sixth time in a row that Chery has been on the list released […]
China imports wild anchovy products from Kenya on June 29, 2023A total of 315 kg of dried wild anchovy from Kenya were transported to the Changsha Huanghua International Airport in central China’s Hunan Province on Monday, marking that China imported wild anchovy products from the African country for the first time. Huang Caixin, director of the import and export food safety department of the Changsha […]
China to raise gasoline, diesel retail prices on June 29, 2023China will raise the retail prices of gasoline and diesel from Thursday, based on the recent rise in international oil prices. Gasoline and diesel prices will be both up by 70 yuan (about 9.7 U.S. dollars) per tonne, the National Development and Reform Commission said in a statement on Wednesday. Under the current pricing mechanism, […]
Kenya’s central bank hikes interest rate to contain inflation on June 28, 2023The Central Bank of Kenya (CBK) on Monday tightened the country’s monetary policy by raising the interest rate by 1 percent citing sustained increased inflation. Kamau Thugge, the CBK governor and the chairman of the Monetary Policy Committee (MPC), said the bank had increased the rate from 9.5 percent to 10.5 percent to “anchor inflation […]
Brazilian analysts upgrade GDP’s growth forecasts on June 28, 2023Brazilian financial analysts raised their projected GDP expansion in 2023 from 2.14 to 2.18 percent, the seventh consecutive weekly upgrade, and upped the 2024 forecast from 1.20 to 1.22 percent, the Central Bank of Brazil said Monday. Analysts lowered the forecast inflation for the year from 5.12 to 5.06 percent, and for next year, from […]
Intercity subway links economic powerhouses in east China on June 25, 2023On Saturday, Line 11 of the Suzhou metro went into operation, linking the city of Suzhou, a major GDP contributor in east China’s Jiangsu Province, with Shanghai, another economic heavyweight in the region. This is the first time that the core cities in the Yangtze River Delta region have linked their separate urban subway systems […]