G20 nations consider resolution condemning Russian invasion
NUSA DUA, Indonesia — Leaders from the Group of 20 (G20) nations were considering a draft resolution on Tuesday in which most members strongly condemn the war in Ukraine and stress it was exacerbating fragilities in the global economy, diplomats said.
Japan’s economy unexpectedly shrinks as hot inflation takes toll
TOKYO — Japan’s economy unexpectedly shrank for the first time in a year in the third quarter, stoking further uncertainty about the outlook as global recession risks, a weak yen and higher import costs took a toll on household consumption and businesses.
Climate justice gets harder as world population passes 8 billion
SHARM EL-SHEIKH, Egypt — The world population surged past 8 billion people on Tuesday, the United Nations (U.N.) said, warning that more hardship is in store for regions already facing resource scarcity due to climate change.
IMF’s Georgieva urges G20 leaders to ‘allow trade to do its job’
NUSA DUA, Indonesia — International Monetary Fund (IMF) Managing Director Kristalina Georgieva warned Group of 20 (G20) leaders on Tuesday against allowing trade protectionism to “take root” and said fragmentation of the world economy into geopolitical blocs would significantly hurt growth.
Europe must avoid over-reliance on China, says EU leader
NUSA DUA, Indonesia — Europe will engage with China but needs to “rebalance” the relationship to avoid becoming too reliant on the country for areas like innovative technology, European Council President Charles Michel said on Tuesday.
Rich nations stick to coal phase-out as China builds new plants
LONDON/SHARM EL-SHEIKH — Rich nations have stuck to pledges to phase out coal power despite the energy crunch in the wake of the Ukraine war but China’s expanding coal fleet risks counteracting the climate impact of the closures, a report said on Tuesday.
Russian software disguised as American finds its way into US Army, CDC apps
LONDON/WASHINGTON — Thousands of smartphone applications in Apple and Google’s online stores contain computer code developed by a technology company, Pushwoosh, that presents itself as based in the United States, but is actually Russian, Reuters has found.
For host Indonesia, a G20 summit dogged by Russia-Ukraine rancor
GROUP of 20 (G20) leaders meet on Tuesday under very different circumstances than those host Indonesia envisioned when it began planning the summit last year, with Russia’s invasion of Ukraine hanging over proceedings even in the absence of Russia’s leader.
South Korea’s education success falters in evolving economy
SOUTH KOREA’s education system, a key driver of the nation’s economic success, is facing increased criticism ranging from failing to meet the demands of a modern labor market to contributing to worsening mental health among the young.
Unilever leads pack on price rises as consumer goods industry squeezed
LONDON — Unilever has raised prices faster than its biggest rivals P&G and Nestle since the middle of 2021, in a replay of its strategy during the 2007-09 financial crisis.
Germany’s BioNTech says to set up mRNA vaccine facility in Singapore
BIONTECH SE, the German biotech that developed a widely used COVID-19 vaccine with Pfizer Inc PFE.N, acquired a manufacturing facility in Singapore, its first in Asia, the company said on Monday.
Macau casinos expected to invest around $12B over next 10 years — media
HONG KONG — Macau casino operators, vying for a license in the world’s biggest gambling hub, are expected to invest a total of around 100 billion patacas ($12.4 billion) over the next 10 years, local broadcaster TDM reported.