Wednesday Mar 29, 2023

$370 Billion Chinese Technology Giant Tencent Posts First Ever Revenue Decline In History

The advent of stricter regulations around gaming and resurgence of COVID-19 have resulted into slow growth for Chinese technology companies. After Alibaba another Chinese firm Tencent has posted its first ever quarterly year on year revenue decline. Tencent posted quarterly revenue of $19.7 billion and it’s a 3% fall when compared to same period last […]

Business Travel Spending Won’t Hit Pre-Pandemic Level Until 2026

There are still some worrying times ahead for the global travel industry as recovery in global business travel spending to pre-pandemic level is likely to be delayed now by 18 months to 2026. This is because of factors such as persistent inflation, high energy prices, labor shortages and lockdowns in China. This is being said […]

As COVID Restrictions Ease China’s July Auto Sales Surge By More Than 30%

China’s monthly auto sales have surprisingly risen despite COVID-19 related lockdowns still on in some cities. The China association of automobile manufacturers said that auto sales in July surged 29.7% from a year earlier to 2.42 million units. Despite a steep rise of nearly 30% from 2021, the sales figures failed to cross June’s numbers […]

Four African Countries Hit by Rotavirus Vaccine Shortage

After disruptions at drugmaker GSK, African countries of Kenya, Tanzania, Senegal and Cameroon have run out of vaccines to prevent deadly rotavirus infection in children. According to the World health organization, approximately 200,000 children die each year due to rotavirus infections which are the leading cause of severe dehydrating gastroenteritis in children under the age […]

New Proposed Bill In U.S. Inflation Reduction Act Could Boost Funding For Climate Technology

Climate and energy projects could see $370 billion in fresh funding because of a proposed bill by Senate democrats called the Inflation reduction Act which revises the tax code and reduces the drug prices. In this new proposed bill there is going to be more technology investment and more direct procurement of green technology by […]

Vaccine And Anti-Viral Drug Manufacturers See A Surge In Share Prices Following WHO Declaring Monkeypox A Global Health Emergency

Monkeypox has been declared a global health emergency by the world health organization last week. Many health experts around the world have feared this virus for a long time now. According the Economic times, there have been more than 21000 cases worldwide in more than 80 countries so far. Furthermore, nearly 80 people have succumbed […]

IMF slashes global growth forecasts amid Russia-Ukraine war and high inflation

In a major new update, the international monetary fund (IMF) has cut its global growth forecasts for the year 2022 and 2023 further warning of a possible worldwide recession. According to the IMF, the two factors that have contributed to a slow economic growth are the Ukraine war and the downside risks of high inflation. […]

Midsize Chinese Venture Capital firms are scrambling for cash as foreign investors want to cash out

Investors all over the world have invested a lot of money in Chinese venture capital firms and this has helped in funding many tech start-ups. But now all the pension funds, sovereign bond funds are pulling back from China as they are worried about Chinese government’s crack downs on tech startups, more COVID lockdowns and […]

Apple Inc. on Russia’s Competition Authority’s List for Violating Anti-Trust Laws

The Federal anti-monopoly service (FAS) which is Russia’s competition authority said that it would fine US tech giant Apple for violating of Russia’s antitrust laws and abusing its dominant position in the iOS app distribution market. FAS said that the size of the fine would be determined during the course of an administrative investigation and […]

China’s Real Estate Headed for a Crash Amid Mortgage Boycotts

It was reported in China that the Chinese’s property prices fell for the 10th consecutive month highlighting the country’s spiraling real estate crisis and how the government’s efforts to revive the markets are failing. The China’s National bureau of Statistics reported that new home sales fell from a year earlier in 70 cities. There is […]

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