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But retailers in popular Asian destinations are desperate to take advantage of the return of a first wave of Chinese tourists as the country reopens borders after three long years of COVID-19 curbs. And robust demand for destinations like Macau, Hong Kong, Taiwan and Thailand has boosted prospects for the battered travel industry, Ctrip booking data shows. Still, destinations elsewhere show that the return of Chinese tourists remains at a very early stage. Fresh COVID testing requirements for Chinese tourists in some locations may be acting as a barrier, while some countries also require visas that take time to process. Retailers in South Korea are also not seeing a huge influx in Chinese tourists yet, citing the suspension of short-term visas for travellers between both countries.

☆ Davos 2023-'Open for business' Labour slams PM Sunak no-show
▼ + stars: | 2023-01-19 | by ( Brenda Goh | ) www.reuters.com time to read: +3 min

DAVOS, Switzerland, Jan 19 (Reuters) - British Labour Party leader Keir Starmer set out his green growth plan in Davos on Thursday and criticised British Prime Minister Rishi Sunak for not showing up at the annual meeting of the World Economic Forum. "Somebody has got to be an ambassador for Britain and the prime minister and the chancellor are not here," she told a separate audience referring to finance minister Jeremy Hunt. "We are here to send a message that at the next election ... the British economy will be open for business again." Although Sunak did not attend the event, the British government did send Trade Minister Kemi Badenoch and Business Minister Grant Shapps to Davos. And former Prime Minister Boris Johnson also made an appearance, which he used to urge Britain's allies to double down on sending military equipment to Ukraine.

☆ Most Chinese provinces set growth targets of above 5% in 2023
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +3 min

BEIJING, Jan 18 (Reuters) - Most Chinese provinces aim for economic growth of above 5% this year, pledging to focus on boosting consumption following a lifting of stringent COVID curbs, according to local government work reports. Zhejiang province, which is a "demonstration zone" for China's common prosperity campaign, has set a more than 5% growth target this year, after missing its "around 6%" goal by half in 2022. Growth is expected to rebound to 4.9% in 2023, according to a Reuters poll. China is likely to aim for economic growth of at least 5% in 2023 to keep a lid on unemployment, policy insiders said. The tropical southern province of Hainan set an ambitious target of around 9.5% for 2023 growth, after the island's main tourist hub, Sanya, locked in tens of thousands of tourists last August.

☆ Explainer: What's at stake in Turkey's upcoming elections
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +6 min

WHAT'S AT STAKE IN THIS ELECTION FOR TURKEY... Opposition parties have pledged to restore central bank independence, bring back parliamentary government and introduce a new constitution enshrining the rule of law. Meanwhile Turkey's top court is hearing a case to shut down the third-largest parliamentary party, the pro-Kurdish Peoples' Democratic Party (HDP), and has frozen some of its accounts. Once campaigning starts, opposition parties may find it harder to get their message heard. Though the election deadline is mid-June, Erdogan's party has said they may be brought forward.

Some Chinese youth who spoke to Reuters reflected the sense of frustration. But China's Gen Z has its own characteristics that present a dilemma for Xi, some analysts said. A survey of 4,000 Chinese by consultancy Oliver Wyman found Gen Z to be the most negative about China's economic outlook of all the age groups. FIXING THE YOUTHIn a New Year speech, Xi acknowledged the need to improve the prospects of China's youth, without mentioning the protests against his zero-COVID approach. Making housing more affordable could mean allowing a sector responsible for a quarter of China's economic activity in recent years to collapse.

☆ Davos 2023: Saudi FM says Riyadh trying to find path to dialogue with Iran
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

DAVOS, Switzerland, Jan 17 (Reuters) - Saudi Foreign Minister Prince Faisal bin Farhan Al Saud said the kingdom was trying to find a path to dialogue with Iran as the best way to resolve differences. "This is complex question, but we will have to talk about how we find a pathway to ending the conflict," he said. Netanyahu has pledged to pursue formal Israeli ties with Riyadh to build on normalisation pacts signed with the United Arab Emirates and Bahrain in 2020 under his leadership. Gulf powerhouse Saudi Arabia blessed the U.S.-brokered pacts but stopped short of formally recognising Israel in the absence of a resolution to Palestinian statehood goals. Reporting by Maha El Dahan; writing by Ghaida Ghantous; editing by Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

☆ China Declares Its Reopening After Covid Isolation
▼ + stars: | 2023-01-17 | by ( Yoko Kubota | ) www.wsj.com time to read: 1 min

BEIJING—Chinese Vice Premier Liu He said the country is open to global cooperation after three years of Covid isolation and said foreign investors had a role to play in Chinese leader Xi Jinping ‘s signature “common prosperity” program. Speaking at the World Economic Forum’s annual meeting in Davos, Mr. Liu, Mr. Xi’s top economic envoy, said China’s “common prosperity” push didn’t mean the country was embracing egalitarianism or welfarism, but instead adopting a long-term development goal where “entrepreneurs, including foreign investors, will play a critical role as they are the key elements of social wealth creation.”

☆ Pakistan PM Sharif offers talks with arch-rival India
▼ + stars: | 2023-01-17 | by ( Asif Shahzad | ) www.reuters.com time to read: +2 min

ISLAMABAD, Jan 17 (Reuters) - Pakistan Prime Minister Shehbaz Sharif has offered his Indian counterpart talks over all outstanding issues, including disputed Kashmir, which he believes could be facilitated by the United Arab Emirates (UAE). He can play a very important role to bring the two countries on the talking table," Sharif said. The two arch-rival nuclear powers have fought three wars since independence from British rule in 1947. Tensions rose high when India unilaterally revoked the autonomous status of its part of Kashmir later in 2019, which Sharif said resulted in "flagrant" human rights violations. Sharif said the wars between the two countries brought nothing except misery, poverty and unemployment.

SYDNEY, Jan 16 (Reuters) - Bain Capital said on Monday it is looking to relist Virgin Australia - a move that comes as the domestic aviation market bounces back strongly from its pandemic lows. "In the coming months we will consider how to best position Virgin Australia for continued growth and long term prosperity," Mike Murphy, a Sydney-based partner at the U.S. private equity firm said in a statement. "It is Bain Capital’s current intention to retain a significant shareholding in a future IPO of Virgin Australia." Bain bought Virgin Australia for A$3.5 billion ($2.45 billion) including liabilities in 2020 after the airline was placed in voluntary administration. There were just $614.2 million worth of IPOs in Australia in 2022, down nearly 93% from $8.4 billion a year earlier, according to Refinitiv data.

☆ Taiwan VP new ruling party boss sets stage for presidential run
▼ + stars: | 2023-01-15 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, Jan 15 (Reuters) - Taiwan Vice President William Lai was elected as the new chairman of the ruling Democratic Progressive Party (DPP) on Sunday, setting the stage for him to run in presidential elections early next year. President Tsai Ing-wen resigned as party chairwoman in November after the DPP was trounced at local elections. Lai has not directly said whether he intends to run in the presidential vote but is widely expected to do so now he is DPP chairman. A former premier and mayor of the southern city of Tainan, Lai has been Tsai's vice president since 2020 following the DPP's landslide election win. The DPP won the 2020 presidential and parliamentary elections by a landslide by pledging to defend Taiwan against China and not submit to Beijing's threats.

[1/2] European Commission President Ursula von der Leyen and Sweden's Prime Minister Ulf Kristersson attend the inauguration of Esrange's new satellite launch ramp, Spaceport Esrange outside Kiruna, Sweden, January 13, 2023. The Commission is planning to loosen state aid rules, but some EU countries can spend more than others. Von der Leyen said the bloc needed "credible and ambitious" financing tools to preserve the single market. She said the Commission was working on an assessment of what the EU clean tech sector needed to compete with U.S. rivals. Yet Scholz's own Social Democrats published a paper on Thursday saying that new EU joint borrowing should be "constructively examined".

☆ Asia, Europe Look to Collective Action to Restrain China
▼ + stars: | 2023-01-12 | by ( Alastair Gale | Chieko Tsuneoka | ) www.wsj.com time to read: 1 min

TOKYO—Democracies in Asia that rely on the backstop of U.S. military power for their prosperity are confronting a new reality: American protection is no longer enough now that China rivals the U.S. in areas such as advanced missiles and naval hardware. To tackle the problem, Beijing’s neighbors, with prodding from the U.S. and help from Europe, are building a network of regional security ties with a goal similar to that of the North Atlantic Treaty Organization: deterring a large nation whose growing ambitions have raised the prospect of conflict.

☆ U.S. and Japan agree to strengthen alliance, citing China and North Korea
▼ + stars: | 2023-01-12 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

WASHINGTON — The United States and Japan unveiled plans Wednesday to strengthen their alliance to help counter threats from North Korea and China, which they called the greatest security challenge in the region. From left, Japanese Defense Minister Yasukazu Hamada, Hayashi, Blinken and Secretary of Defense Lloyd Austin in Washington on Wednesday. In addition, the U.S. space agency NASA plans to sign a cooperation deal with Japan on Friday, they said. Austin noted that Wednesday’s agreement affirms America’s “ironclad commitment to defend Japan with a full range of capabilities, including nuclear” and underscores that Article 5 of the mutual security treaty applies to the Senkaku Islands. That would make its defense budget the world’s third largest — a dramatic shift in Tokyo’s priorities that reflects growing concerns about North Korea and potential Chinese military action against Taiwan.

"It's not just me and my children, future generations from our community in Jammu and Kashmir will vote for the BJP." A BJP victory in the disputed region could consolidate India's claim over the territory on the global stage. "We have taken a pledge to cross 50-plus seats to form the next government with a thumping majority," the BJP's president for Jammu and Kashmir, Ravinder Raina, told Reuters. Jammu has about 5.3 million inhabitants, 62% of whom are Hindu while Kashmir Valley has 6.7 million, 97% of them Muslim, according to a 2011 census. Previously unreported official records show just over 5.3 million certificates had been issued as of September.

☆ Taiwan calls on Germany to help maintain 'regional order'
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, Jan 10 (Reuters) - Taiwan President Tsai Ing-wen called on Germany on Tuesday to help maintain "regional order" during a meeting with senior German lawmakers who are visiting the island on a trip that Beijing has condemned. "We look forward to Taiwan, Germany and other democratic partners jointly maintaining the regional order and prosperity." Marie-Agnes Strack-Zimmermann, the head of Germany's parliamentary defence committee and a member of Chancellor Olaf Scholz's junior coalition partner Free Democrats (FDP), told Tsai that Germany and Taiwan are friends. Russia's invasion of Ukraine was a wake up call for the whole world, Strack-Zimmermann said. China has expressed anger at the trip, with its foreign ministry on Monday alluding to Germany's World War Two past.

☆ Singapore withstands a global property downturn
▼ + stars: | 2023-01-03 | by ( Thomas Shum | ) www.reuters.com time to read: +2 min

HONG KONG, Jan 3 (Reuters Breakingviews) - Property is crashing everywhere, except in Singapore. The Asian city-state’s private residential prices are up 14% year-on-year, according to third-quarter data from Knight Frank. That’s a sharp contrast to major cities like Hong Kong and Sydney, which saw decreases of 7% and 4% respectively over the same period. Home prices in Hong Kong, the world’s least affordable property market by far, could fall by as much as 30% by the end of 2023 from 2021 levels, reckon analysts at Goldman Sachs. Still, Leonard Tay, an analyst at Knight Frank, predicts an up to 5% increase for private home prices in 2023.

☆ Netanyahu seals dramatic comeback as he is sworn in as Israel prime minister
▼ + stars: | 2022-12-29 | by ( The Associated Press | ) www.nbcnews.com time to read: +6 min

The plans have sparked an unprecedented uproar from across Israeli society, including the military, LGBTQ rights groups, the business community and others. Netanyahu is the country’s longest serving prime minister, having held office from 2009 until 2021 and a stint in the 1990s. Netanyahu’s previous administrations have been strong proponents of Israel’s West Bank settlement enterprise, and that is only expected to be kicked into overdrive under the new government. Most of the international community considers Israel’s West Bank settlements illegal and an obstacle to peace with the Palestinians. Netanyahu has tried to allay those concerns by pledging no harm to LGBTQ rights.

☆ Here’s what could tip the global economy into recession in 2023
▼ + stars: | 2022-12-29 | by ( Julia Horowitz | ) edition.cnn.com time to read: +5 min

Not everyone agrees the global economy is heading for a recession. Excluding the global financial crisis and the worst stage of the pandemic, that would be the weakest year for the world economy since 2001. Whether a global recession materializes may come down to three factors: what central banks do next, the consequences of China’s nascent reopening and energy prices. What a global recession meansWhether the world falls into recession or not, the next 12 months are likely to be difficult. Even if a global recession is averted, many countries could still endure downturns accompanied by painful rises in unemployment, though economists don’t agree on how severe and long they might last.

☆ 2022 was the year the Overconfidence Man fell back to earth
▼ + stars: | 2022-12-29 | by ( Maureen Tkacik | ) www.businessinsider.com time to read: +22 min

Naturally, Elon Musk, the platonic ideal of the peculiar self-aggrandizing, self-parodying personality type that thrived during the Trump years and peaked during the pandemic, tops this list. By 2022, the media had pronounced him variously the next Warren Buffett, J.P. Morgan and Charles Koch. "bye bye @trussliz Congrats to lettuce", tweeted Putin's one-time stand-in Dmitry Medvedev, to which Elon Musk could not resist replying, "pretty good troll tbh." Elon Musk speaks at the 2020 Satellite Conference and Exhibition in March 2020. Elon MuskIt's weird to recall now that Elon Musk once seemed like, graded on the billionaire curve anyway, a net positive for a cursed American society.

☆ Privacy and crypto will likely lead tech policy under split Congress as hope for passing ambitious antitrust reforms dwindles
▼ + stars: | 2022-12-27 | by ( Lauren Feiner | ) www.cnbc.com time to read: +9 min

After what started as a hopeful year for tech policy, the 117th Congress is about to close out its term with many key efforts tabled. That's the case with privacy legislation, where a bill proposed this year gained bipartisan support, passing out of a House committee with a near-unanimous vote. The pair blamed the bills' failure to advance on intense lobbying efforts by the tech industry against them. One prominent bipartisan bill in the Senate would put the CFTC in charge. "But the importance of tech policy issues will still be strong."

☆ The world's in a 'polycrisis' — and these countries want to quash it by looking beyond GDP
▼ + stars: | 2022-12-26 | by ( Sam Meredith | ) www.cnbc.com time to read: +11 min

Mostly led by women, Finland, Iceland, Scotland, Wales and New Zealand are all members of the Wellbeing Economy Governments partnership. "Which I think is why we're seeing such growing interest in the well-being economy approach, both here in Scotland and around the world." A post-growth society is one that resists the demand for constant economic growth. Mostly led by women, Finland, Iceland, Scotland, Wales and New Zealand are all members of the Wellbeing Economy Governments partnership. 'GDP is not a way to measure richness'The push to look beyond economic growth comes at a time of growing calls to end fossil fuel production worldwide.

☆ Meet a couple living on disability and $500 per month from a guaranteed-income program for families hurt financially by the pandemic
▼ + stars: | 2022-12-25 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +6 min

A couple from Minnesota gets by on disability benefits and a basic-income program aimed at parents. The St. Paul pilot program launched in 2020 provides 150 families $500 per month for 18 months. The possibilities opened up for their family when Malissa was chosen for a guaranteed-income pilot program in her hometown of St. Paul, Minnesota. Money from guaranteed-income programs does not typically affect one's eligibility for public-assistance programs in the way employment can. The couple has been supporting their family on about $2,000 per month in disability income because of mental-health issues and complications from a childhood case of spinal meningitis.

☆ U.S. must stop 'bullying', suppressing China's development, foreign minister says
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Dec 23 (Reuters) - The United States must stop suppressing China's development and should not continue the "old routine of unilateral bullying", Chinese Foreign Minister Wang Yi told U.S. Secretary of State Antony Blinken. In the latest phone correspondence between the two leaders, Wang said the United States must pay attention to China's legitimate concerns, stop curbing and suppressing its development, and not constantly challenge China's red line in a "salami-slicing” way. Biden had raised objections to China's "coercive and increasingly aggressive actions toward Taiwan," which he said undermined peace and stability across the Taiwan Strait and in the broader region, and jeopardised global prosperity. Xi called it the "first red line" that must not be crossed in China-U.S. relations. Reportiing by Beijing newsroon; Writing by Bernard Orr, Editing by Christian Schmollinger and Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ Scott Galloway looked at 100 charts on US inequality for his new book. America is adrift, but here's why he's optimistic.
▼ + stars: | 2022-12-21 | by ( Paul Constant | ) www.businessinsider.com time to read: +6 min

NYU professor Scott Galloway spoke to Paul Constant about his book "Adrift: America in 100 Charts." Galloway says we need to bring back the middle class, but there's still hope for the US. This process offered him several important new insights into the decaying of the American middle class — and a surprising sign of optimism for the future. Galloway believes America has been its own worst enemy, with outsized political division keeping us from solving the problem of inequality. "First you have to acknowledge that the middle class is an accident, and it's not self-sustaining," Galloway said.

Student loan debt has become such an issue that the Biden Administration has been attempting to cancel up to $20,000 in student debt per eligible borrower and has continually extended the student loan repayment pause. Ways employers are currently assisting with student debt management"Employers are increasingly offering student loan contribution plans as a direct way to help borrowers pay down student loan debt," Scruggs says. How other employers can help employees manage student loan debtOne of the simplest and most affordable ways employers can help employees is to share information on what employees need to know about their student loans. "There are many ways to help employees manage and pay down student loan debt. However, note that if you refinance federal student loans you'll lose federal protections, like the current student loan payment freeze and potential student loan forgiveness.

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