World

Amid a migration and economic crisis, the president of Tunisia fires the prime minister.
Market, World

Amid a migration and economic crisis, the president of Tunisia fires the prime minister.

Tunisian President Kais Saied sacked Prime Minister Kamel Maddouri less than a year after his appointment amid a faltering economy and a growing number of migrants arriving from countries in sub-Saharan Africa. Maddouri was replaced by Sara Zaafarani, who is an engineer and has been minister of equipment and housing since 2021. She is Tunisia's third prime minister in less than two years. In recent months, Saied has sharply criticised the performance of ministers, saying many have not met the required standards and that the expectations of the Tunisian people are high. Last month, he sacked Finance Minister Sihem Boughdiri. In a meeting broadcast on the presidency's Facebook page, Saied called on Zaafarani "to further coordinate government action and overcome obstacles to meet th...
Everything Regarding the 2018 Italian Economic Crisis
Market, World

Everything Regarding the 2018 Italian Economic Crisis

The eurozone, also called the euro area, is a union of 20 European Union member states that have officially adopted the euro as their primary currency and sole legal tender. These member states exist under one monetary authority, the Eurosystem. At the beginning of 2018, Italy was the third-largest economy in the currency bloc. When Italy entered into a deep political and economic crisis, it was a concern for the European Union (EU) and the global markets. At the time, Italy accounted for 11% of the EU's gross domestic product (GDP). At the end of September 2018, the ruling coalition comprising the Five Star Movement (M5S)—a political party that espoused a populist, anti-establishment view (and was critical of the EU)—and the Lega Nord—also a political party in Italy—submitted their...
German frontrunner Merz warns companies against China investment
China, World

German frontrunner Merz warns companies against China investment

Friedrich Merz, the conservative front-runner in the race to be Germany’s next chancellor, warned domestic companies against making bigger investments in China. “The decision to invest in China is a decision with great risk,” Merz said at a foreign policy event in Berlin on Thursday. “If you take this risk, do it in such a way that it doesn’t endanger the entire company group if you have to write off this investment from one year to the next.” The remarks by Merz, whose conservative CDU/CSU bloc is leading in the polls ahead of the Feb 23 snap election, signal a radical change from the China-friendly course of previous German governments. Following Russia’s invasion of Ukraine, Scholz’s three-party government started to implement what it called a de-risking strategy as part o...
Trump warns China that further tariffs will be imposed on February 1.
China, World

Trump warns China that further tariffs will be imposed on February 1.

President Donald Trump on Tuesday warned that even more tariffs could be coming as soon as next week: This time China was his target, as Trump threatened to unleash a wave of higher taxes on imports from America’s second-biggest trading partner. In an Oval Office press conference that echoed similar off-the-cuff remarks on Monday, Trump said that he is considering a 10% across-the-board tariff on all Chinese goods starting as early as February 1. On Monday, Trump threatened 25% tariffs on Mexico and Canada but deflected on China, noting that former President Joe Biden left in place extensive tariffs that Trump imposed during his first administration. It’s unclear what prompted such a rapid change in Trump’s tariff policy, although he had promised as much as a 60% tariff on all g...
The Bigger Threats to China’s Economy
China, USA, World

The Bigger Threats to China’s Economy

China’s economy rebounded in the last quarter of 2024, achieving the government’s growth target of 5%, as announced by Beijing on Friday. China’s economy rebounded in the last quarter of 2024, achieving the government’s growth target of 5%, as announced by Beijing on Friday. However, this marks one of the slowest growth rates in decades, underscoring the challenges facing the world’s second-largest economy. Amid a prolonged property crisis, mounting local government debt, and persistent youth unemployment, China’s rebound remains fragile. The head of the country’s statistics bureau described China’s economic achievements as “hard won,” acknowledging the significant stimulus measures launched late last year. Historically, Beijing has been adept at meeting its growth targets, but exp...
During its visit to China for the Economic and Financial Dialogue, the UK looks for “common ground.”
China, World

During its visit to China for the Economic and Financial Dialogue, the UK looks for “common ground.”

The UK’s Chancellor of the Exchequer, Rachel Reeves, arrived in China this weekend for the first UK-China Economic and Financial Dialogue (EFD) since 2019 in an effort to seek “common ground” on trade and investment with Beijing. According to the UK Treasury department, Reeves met with her counterpart, Vice Premier He Lifeng, on Saturday for a series of conversations around the support for safe trade and investment. It claims to have resulted in agreements worth GBP 600 million to the British economy as both sides agreed to deeper cooperation across areas such as financial services, trade, investment, and the climate to support secure growth. “By finding common ground on trade and investment while being candid about our differences and upholding national security as the first...
The flames in Los Angeles are predicted to be the most expensive in US history, with damages of about $50 billion.
USA, World

The flames in Los Angeles are predicted to be the most expensive in US history, with damages of about $50 billion.

The magnitude of these losses is likely to strain California's already fragile home-insurance market. The Los Angeles wildfires are expected to become the most costly in US history, with early damage estimates reaching nearly $50 billion, according to a The Wall Street Journal (WSJ) report. This figure, more than double the previous day’s estimate, includes over $20 billion in insured losses, with the potential for even higher costs if the fires continue to spread unchecked, said JPMorgan analyst Jimmy Bhullar.  Other projections, such as from ratings firm Morningstar DBRS, also place the financial impact among the nation’s most expensive disasters, with insured losses exceeding $8 billion. The final cost of insurance losses from the wildfires may vary significantly ...
My Opinion: The Future of Singapore amid Uncertain Times
Singapore, World

My Opinion: The Future of Singapore amid Uncertain Times

This article first appeared in Forum, The Edge Malaysia Weekly on December 23, 2024 - December 29, 2024 Andy Gove, the long-serving CEO of Intel, wrote of how only the paranoid will survive. Such are the times we live in that his advice is probably a helpful starting point as we think about what Singapore will be like in coming years. No one should underestimate the enormity of the challenges the city state will face in the years to come. Some of the fundamental prerequisites for Singapore’s well-being will be at risk — such as a peaceful world and continued globalisation. But neither should we be fearful. After all, Singapore has faced down many challenges over the past 60 years of independence. Much will hinge on how we use our still formidable strengths to protect ourselves from ...
The UN climate meeting may be brought to life by Asia’s energy shift.
Asia, World

The UN climate meeting may be brought to life by Asia’s energy shift.

The 2024 United Nations Climate Change Conference (COP29) left a bitter taste in the mouths of developing country negotiators. Many felt betrayed by what Indian negotiator Chandni Raina called an ‘optical illusion’ of climate finance to build on. The United States and the European Union were clearly and rightly in the spotlight. But Asia’s climate finance commitments haven’t been close to historical highs either. Whether it was due to conservative governments in South Korea and New Zealand, arguably misaligned financing schedules in Japan or a pending election in Australia, the region’s traditional financiers have largely struggled in 2024. South Korea’s currently embattled conservative government contributed US$300 million to the Green Climate Fund in 2023 but only US$10 million in...
Asia, Market, World

Malaysia Leads Southeast Asia in Digital Investments

Malaysia retained its position as Southeast Asia’s top data center hub in 2024, attracting $23 billion in investments and solidifying its status as a leading digital hub, Knight Frank said Monday. The global property consultant, in its Data Centre Research Report 2024, noted Malaysia ranked first in the SEA-5 Data Centre Opportunity Index for the second straight year, with an annual take-up of 429 MW, surpassing regional peers. Strategic investments from tech giants like Microsoft, Amazon Web Services (AWS), Google, and Oracle drove the growth, contributing $23.3 billion. Malaysia hosts 54 operational data centers with a combined capacity of 504.8 MW, led by Johor in IT capacity and Klang Valley as a core market. Emerging hubs include Sarawak, Negeri Sembilan, and Kedah. Malay...