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Added on the 19/10/2018 12:46:02 - Copyright : France 24 EN
China’s major banks reporting slowest first quarter profit growth in six years as the economy slows and bad loans are on the rise. Meg Teckman reports.
Deserted streets in Hong Kong as Hong Kong's weather observatory raised its typhoon alert to the highest level at 8:15 pm (1215 GMT) on September 1st, over Super Typhoon Saola, one of the strongest storms to hit southern China in years. IMAGES
Chinese Foreign Minister Qin Gang arrives at the airport in Manila on a visit that aims to boost ties with the Philippines, which is staging its largest-ever military exercises in conjunction with the United States. Philippine officials say Qin is set to meet President Ferdinand Marcos on Saturday after an initial meeting with his Philippine counterpart Enrique Manalo. IMAGES
Global growth is set to be higher than expected this year, the IMF said Monday, raising its forecast on surprisingly strong consumption and investment while China's lifting of zero-Covid restrictions provides another boost. SOUNDBITE
Surging inflation and severe slowdowns in the United States and China prompted the IMF to downgrade its outlook for the global economy this year and next, while warning that the situation could get much worse. SOUNDBITE
The IMF downgrades its forecast for global economic growth this year, citing the impact of the Omicron variant of Covid-19, which contributed to a slowdown in the United States and China. World GDP is forecast to expand 4.4 percent this year, half a point lower than its previous estimate released in October, says IMF First Deputy Managing Director Gita Gopinath. SOUNDBITE
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