China’s super-rich saw their wealth tumble by the most in over two decades this year, as the Russia-Ukraine war, Beijing’s zero-COVID measures and falling mainland and Hong Kong stock markets pummelled fortunes, an annual rich list said. | Reuters
The global economic outlook has this year been heavily impacted by the war in Ukraine and slowing economic growth in China that has in turn been exacerbated by the country’s ultra-strict COVID policies and a prolonged property slump.
Yang Huiyan, the businesswoman behind Country Garden Holdings Co Ltd, which like many other Chinese developers has been battling debt issues, saw her wealth fall by $15.7 billion, the biggest drop on the 2022 list. Zhang Yiming, founder and global CEO of TikTok owner ByteDance, poses in Palo Alto, California, U.S., March 4, 2020. REUTERS/Shannon Stapleton/File photo
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US encourages Ukraine to be open to talks with Russia —reportThe United States is privately encouraging Ukraine to signal an openness to negotiate with Russia, the Washington Post reported, as the State Department said Moscow was escalating the war and did not seriously wish to engage in peace talks.
Read more »
Ukraine says Russia forces pillage, occupy Kherson homes ahead of battleUkraine accused Russia of looting empty homes in the southern city of Kherson and occupying them with troops in civilian clothes to prepare for street fighting in what both sides predict will be one of the war’s most important battles. | Reuters
Read more »
PBBM won't raise Russia-Ukraine issue at APECPresident Ferdinand Marcos Jr. will not talk about the Russia-Ukraine conflict at the upcoming Asia-Pacific Economic Cooperation (APEC) meetings, where Russia is expected to attend, an official of the Department of Foreign Affairs (DFA) said Monday.
Read more »
Japan foreign reserves down for 3rd month after interventionJapan’s foreign reserves extended declines in October, following the previous month’s record drop, the Ministry of Finance said, reflecting the largest ever amount of yen-buying, dollar selling intervention. | Reuters
Read more »
Easing Hong Kong’s COVID curbs, opening China border top bankers’ wish list -HKMA chiefGlobal executives want to see a further easing of Hong Kong’s COVID-19 restrictions and it’s crucial for the China border to reopen so the financial hub can reconnect with the mainland, the head of the city’s de facto central bank told Reuters.
Read more »