In a significant move to bolster its struggling economy, China’s central bank has unveiled a sweeping set of policy measures aimed at achieving the country’s annual growth target of about 5 per cent. The People’s Bank of China (PBOC) governor Pan Gongsheng announced a series of cuts, including lowering the amount of money banks must […]
Thailand has made history by becoming the first country in Southeast Asia to legalize same-sex marriage, following the royal endorsement of the Marriage Equality Bill. The landmark legislation, published in the Royal Gazette on Tuesday (September 24) evening, grants same-sex couples the same legal rights and protections as heterosexual couples. King Maha Vajiralongkorn approved the […]
Citigroup’s ambitions to expand its securities business in China have hit a snag due to regulatory penalties imposed by the US Federal Reserve, reports Bloomberg. The bank is facing delays in setting up a standalone securities firm as it awaits a clearance letter from the Fed, a requirement by Chinese authorities. The setback comes after […]
Sri Lankans elected leftist politician Anura Kumara Dissanayake as the new president in the debt-ridden country’s first election since its economy collapsed in 2022. The 55-year-old defeated his nearest rival, opposition leader Sajith Premadasa, to emerge as the clear winner after a historic second round of counting, which included second-preference votes, after no candidate won […]
Sri Lanka’s newly elected President Anura Kumara Dissanayake has taken a bold step by dissolving the nation’s parliament and calling for early elections, a move he frames as crucial for combating corruption and renegotiating the country’s $3 billion bailout from the International Monetary Fund (IMF). In a special gazette issued Tuesday, Dissanayake ordered parliamentary elections […]
The People’s Liberation Army (PLA) conducted its first known intercontinental ballistic missile (ICBM) test in 44 years on Wednesday morning, launching a missile into the Pacific Ocean, according to a statement from the Chinese Ministry of Defence. China’s latest known ICBM is the DF-41, which entered service in 2017 and has an operational range of […]
China’s decision to raise the retirement age has triggered widespread dissatisfaction among workers, although major protests haven’t yet materialized, reports the South China Morning Post. The move, effective from January 1st, will gradually increase the retirement age for men to 63 and for women to 55 or 58, depending on their job type. This change […]
China’s export growth faces increasing risks as pressure to raise import tariffs spreads beyond advanced economies to less-developed ones due to escalating trade tensions and concerns about excess capacity, according to analysts. China has been targeted with measures on a range of exports, including solar panels, electric vehicles (EVs), steel, aluminium, and even low-value retail […]
US Deputy Secretary of State Kurt Campbell stated that the challenges China poses to the US surpass those of the Cold War. He highlighted China’s support for Russia’s defence industry as a key concern, stating that it comes directly from China’s top leadership. “Frankly, the Cold War pales in comparison to the multifaceted challenges that […]
