Analysis: Record numbers of Chinese graduates enter worst job market in decades

10.8 mln Chinese graduates to enter job market in weak economy Youth unemployment at 18.4%, 3 times higher than overall rate Graduates’ jobs a top government priority amid stability risks BEIJING, June 23 (Reuters)-Jenny Bai was among 10 high-performing computer science students from different Chinese universities selected by a Beijing-based internet firm for a job … Read more

Sri Lanka PM says economy ‘has collapsed,’ unable to buy oil

COLOMBO, Sri Lanka – Sri Lanka’s prime minister says its debt-laden economy has “collapsed” after months of shortages of food, fuel and electricity, and the South Asian island nation cannot even purchase imported oil. “We are now facing a far more serious situation beyond the mere shortages of fuel, gas, electricity and food. Our economy … Read more

SoftBank overseas business chief exits in latest churn

The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS / Issei Kato / Register now for FREE unlimited access to Register TOKYO, June 22 (Reuters) – Japan’s SoftBank Group Corp (9984.T) said on Wednesday it has appointed Alex Clavel as chief executive of … Read more

Bondholder sues Sri Lanka in US court | Business and Economy News

In its lawsuit, the bondholder said the default is being ‘orchestrated by officials at the highest levels of government’. By Chris DolmetschBloomberg Published On 22 Jun 202222 Jun 2022 Sri Lanka was sued in the US by a bondholder after the South Asian nation defaulted on its debt for the first time in history while … Read more

BOJ policymakers warned of economic harm from excess yen moves at April meet

Some BOJ members warned of damage from excess FX moves – minutes One member said weak yen good for Japan’s economy – minutes Board divided over chance of overshoot in inflation outlook BOJ strengthened commitment to keep rates low at April meeting Govt spokesperson says rapid FX moves undesirable TOKYO, June 22 (Reuters) – Some … Read more

US Treasury’s new tribal office takes aim at tax, finance inequities -Yellen

US Treasury Secretary Janet Yellen testifies before a Senate Finance Commmittee hearing on President Biden’s 2023 budget, on Capitol Hill in Washington, US, June 7, 2022. REUTERS/Evelyn Hockstein Register now for FREE unlimited access to Register ROSEBUD, South Dakota, June 21 (Reuters) – US Treasury Secretary Janet Yellen said on Tuesday the department’s new … Read more

Macao shuts most businesses as Covid cases surge, but casinos stay open

CNN – Macao, the world’s biggest gambling hub, began its second day of mass Covid-19 testing on Monday after dozens of locally transmitted cases were discovered over the weekend. But while most businesses have shut down, casinos remain open. The testing of Macao’s roughly 600,000 residents is expected to end on Tuesday. The Chinese-ruled former … Read more

IMF team arrives in Sri Lanka as crisis worsens | Business and Economy News

Colombo hopes the IMF visit, overlapping with debt restructuring talks, will yield a quick staff-level agreement. An International Monetary Fund (IMF) team arrives in Sri Lanka on Monday for talks on a bailout program, but time is short for a country just days from running out of fuel and likely months from getting any relief … Read more Considers a Move Into Competitive Food Delivery Business in China

Text size stock rose after a company executive said in a TV interview that the Chinese e-commerce giant may move into on-demand food delivery in China. Giulia Marchi / Bloomberg is considering expanding into on-demand food delivery service, a top executive of the Chinese e-commerce giant said in a Bloomberg TV interview. Such … Read more