TRENDS
The most memorable off-roading adventure is on Estonian sea ice
During the winter, if it’s very cold, the sea around Estonia is covered with ice, and you can walk out, or even drive, to the islands.
BUSINESS
Rice prices surge to a fresh 15-year high
Rice is vital to the diets of billions of people in Asia and Africa, and the latest run up in prices could fan inflationary pressures and hike import bills for buyers.
WORLD
Dubai’s red-hot property market is bracing for a slowdown
The Egyptian couple, who spent eight years renting in the emirate, are selling their two-bedroom apartment in the Jumeirah Village Circle district on the edge of Dubai for a 26% premium over the 1.7 million dirhams ($460,000) they paid for the property in March.
BUSINESS
India’s crackdown on financial risks puts industry on watch
The Reserve Bank of India said the move is designed to prevent an unstable build up of assets in the country’s financial system. But, lawyers and analysts say alternative investment fund managers could see costs ramp up and the rules will make it harder to raise cash in the future.
BUSINESS
Property wins big, Adani lags in stellar year for Indian stocks
Robust economic growth, an infrastructure push and a pause in interest-rate increases have helped propel its equity market to successive highs.
WORLD
China’s BYD overtakes Tesla as the most popular EV company
The automaker is poised to surpass Tesla Inc. as the new worldwide leader in fully electric vehicle sales.
WORLD
iPhone design chief Tang Tan to work with Jony Ive, Sam Altman on AI devices
As part of the effort, outgoing Apple executive Tang Tan will join Ive’s design firm LoveFrom, which will shape the look and capabilities of the new products, according to people familiar with the matter.
BUSINESS
Grayscale Investments chair Barry Silbert resigns while SEC mulls Bitcoin ETF
Silbert is chief executive and founder of Grayscale parent Digital Currency Group, the sprawling crypto conglomerate that is embroiled in several ongoing disputes in the wake of the 2022 industry meltdown.
WORLD
Iron ore surges past $140 to the highest since June 2022
Futures in Singapore rose above $140 a ton amid thin trading on Tuesday. Optimism is building that China’s economic recovery and its steel-intensive property sector are finally gaining momentum, after a subdued post-pandemic reopening in the past year disappointed investors.
WORLD
China’s bruised middle class has bad news for global brands
Interviews with 20 college-educated people across five top-tier Chinese cities show how the nation’s middle to upper class — a consumer powerhouse targeted by global brands — is pulling back.
WORLD
Chinese media expose prompts probe into illegal baby surrogacies
Undercover reporters at Shanghai-based The Paper visited clinics in Hangzhou and Xiamen controlled by Longduhua Medical Group (Hong Kong) Ltd., which provides surrogacy, a practice that’s illegal under Chinese law.
BUSINESS
Adani secures power purchase pacts for 8GW of solar projects
The green energy arm of billionaire Gautam Adani’s coal-to-airports conglomerate signed a 25-year contract with Solar Energy Corp. of India, or Seci, for the remaining 1.8 gigawatts, it said Monday.
WORLD
China unveils a new Naval Chief as Maritime tensions climb
Hu Zhongming was promoted to the rank of general at a ceremony in Beijing attended by President Xi Jinping on Monday, the official Xinhua News Agency reported.
WORLD
Japan’s business service price growth holds at 30-year high
The country’s services producer price index, a gauge measuring the costs of a range of goods and services provided by businesses to other firms and government entities, rose 2.3% in November from a year earlier, the BOJ said Tuesday.
WORLD
The oldest businesses in the world share their secrets
Here are some longevity lessons from businesses with more than ample experience.
WORLD
Kim Jong Un set to helm key 2024 policy meeting at the peak of his powers
Kim is arguably at the peak of his power since he took office about a dozen years ago, with arms transfers to Russia in recent months likely boosting his sanctions-hit economy.
WORLD
UK economy forecast to narrow GDP gap with Germany by 2038
The Centre for Economics and Business Research predicted that GDP growth in the UK will settle between 1.6% and 1.8% in the period up until 2038, helping it retain its position as the world’s sixth-largest economy.
WORLD
Goldman’s painful 2023 lesson on China forces rethink of emerging markets
The expectation was that a bounce in the world’s second-largest economy would be the wave that lifted all boats, helping emerging markets globally to a banner year.
WORLD
China is softening stance on gaming after $80 billion rout
China allowed 105 domestic games on Monday, the latest sign that Beijing is easing its attitude following a $80 billion meltdown last week as a result of its effort to tighten industry controls.
BUSINESS
Charting the global economy: Festive cheer for Fed as US inflation softens, BOJ sticks with negative rates
World’s five largest container liners — with 65% of global capacity — have suspended transits through the Red Sea. This means higher shipping costs and longer delivery timelines. How will this affect inflation in Europe?
BUSINESS
Poll sees Fed rate cuts later than what Street is expecting
Bloomberg’s monthly survey shows the median expectation is for the US central bank to reduce the benchmark rate by 25 basis points at the June 2024 policy meeting, followed by three more cuts in the second half of the year. The benchmark has been in a range of 5.25% to 5.5% since July.
BUSINESS
Tencent leads $80 billion rout as China rekindles crackdown fear
The top gaming regulator on December 22 published draft rules broadly designed to clamp down on practices that encourage players to spend more money and time online.
WORLD
US to gather intelligence on Chinese chipmakers as Biden mulls tariffs
US Commerce Department to assess Chinese legacy semiconductor production, aiming to gauge US companies' dependence on China for crucial but not cutting-edge chips.
WORLD
Tencent sheds $54 billion as China unveils latest gaming curbs
Beijing’s top gaming regulator on Friday published draft rules broadly designed to clamp down on practices that encourage players to spend more money and time online.
