China’s car sales just fell for first time in over 20 years

Beijing: The growth engine for the world’s car industry has been thrown into reverse, with China recording the first slump in auto sales in more than two decades — though progress in trade talks and planned government incentives offer a ray of optimism. Sales in the world’s biggest market fell 6 per cent to 22.7 […]

Productivity setback adds to worries for UK economy

LONDON: British productivity growth slowed to a two-year low during the three months to last September, official figures showed on Wednesday, reinforcing concerns about the underlying health of the economy ahead of Brexit. Weak productivity growth has bedevilled rich economies around the world since the global financial crisis, but the problem has been particularly acute […]

Japan summons South Korean envoy over forced labour lawsuits

Tokyo: Japan’s Foreign Ministry summoned the South Korean ambassador to seek talks in an escalating standoff over forced labour claims that it has said risks undermining the legal basis for relations between the neighbours. The ministry Wednesday summoned Ambassador Lee Su-hoon after a South Korean court this week approved the confiscation of assets in South […]

Malaysia probing whether China offered to bail out 1MDB

Kuala Lumpur: Malaysia is looking into allegations that China offered to help deter probes into 1MDB in exchange for infrastructure projects, after the Wall Street Journal reported that senior Chinese leaders offered to help bail out the troubled state fund in 2016. The government is unaware of the discussions detailed in the Journal report, which […]

Lebanon’s Berri urges postponement of Arab Economic Summit, MPs say

BEIRUT: Lebanese Parliament Speaker Nabih Berri called on Wednesday for an Arab League economic summit due to take place this month in Beirut to be postponed because Lebanon had failed to agree a new government. Berri also asserted “again the necessity of having Syria participate in such a summit”, lawmakers from his parliamentary bloc quoted […]