Sigh of relief in global markets as China finally relaxes some Covid rules November 11, 2022 With all the bad news that has dominated the airwaves in recent months it was very welcome to see that US CPI rose significantly less than expected in October to its lowest level since January, prompting a huge relief rally in stocks, bonds as well as a sharp selloff in the US dollar. The rally [...]
China trade slumps for first time since May 2020 on zero-Covid rules November 7, 2022 A combination of strict Covid-19 containment measures hobbling factories and a global economic slowdown have kneecapped China’s trade position, official figures out today revealed. Beijing’s commitment to blanket lockdowns to stop the spread of the virus has disrupted production, forcing down factory output and leaving Chinese exporters with fewer goods to ship abroad. The world’s [...]
Nervous markets scratch their heads over lockdown pain due to confusing China Covid policy November 7, 2022 Despite a big relief rally at the back end of last week, US markets still couldn’t reverse the losses of the previous three days, closing lower for the first time in three weeks, although for European markets it was a somewhat different story. The DAX finished higher for the fifth week in succession, posting its [...]
China doubles-down on zero-Covid policy November 5, 2022 China is set to continue with its current approach to tackling Covid-19, Chinese government officials said on Saturday. China will persevere with its “dynamic-clearing” approach to tackling Covid, officials from the China National Health Commission told a news conference today. The statements follow claims made by a former Chinese disease control official, at a conference [...]
Canada Goose and Estee Lauder gloomy forecasts amid Covid curbs in China November 2, 2022 Coat maker Canada Goose and make-up seller Estee Lauder both issued stark sales warnings yesterday due to Covid curbs in China. It comes as Chinese authorities have set out a seven-day lockdown in Zhengzhou, impacting the world’s largest iPhone factory. Canada Goose said yesterday that it was slashing its full-year revenue forecast due to pandemic-linked [...]
China boosts Russian oil supplies despite Zero Covid slowdown October 24, 2022 China's has ramped up its oil imports from Russia 22 per cent year-on-year, despite a drop in consumption due to its lockdown measures.
Chair of defence committee says RAF vets who train Chinese pilots should ‘lose British citizenship’ October 18, 2022 The Tory chair of the Commons defence committee has called for RAF veterans to lose their citizenship if they train Chinese pilots. Tobias Ellwood made the comments on social media this morning just days after it was reported up to 30 former pilots have been lured to Beijing with large payments. Following reports, the UK [...]
China in grip of debunked coup rumours as Xi Jinping house arrest reports grow with all eyes on General Li Qiaoming September 27, 2022 Social media across China and the rest of Asia continues to be in overdrive today as persistent rumours that president Xi Jinping has been removed in a coup refuse to die down. Local and regional media speculate China’s long-standing leader was removed when he was away in Samarkand while attending the recent SCO summit, on [...]
Willie Walsh: China’s Covid policy cost Hong Kong aviation hub status September 21, 2022 China’s zero-Covid policy has cost Hong Kong its status as an aviation hub, according to veteran Willie Walsh. A former chief executive of BA’s owner IAG, Walsh is now at the helm of airline trade body the International Air Transport Association (IATA). The director general blamed China’s Covid policies for “devastating” the Hong Kong aviation [...]
China blocked from attending Queen Elizabeth II’s lying in state September 16, 2022 A Chinese government delegation has been blocked from attending Queen Elizabeth II’s lying in state. House of Commons speaker Lindsey Hoyle has refused a request for Chinese officials to be allowed access to Westminster Hall, where Queen Elizabeth II will lie in state until her funeral on Monday, Politico first reported. The refusal comes after [...]