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

China’s economy is looking brighter but it’s not in the clear yet

Hong Kong CNN Business – From big gains in tech stocks to robust trade data, China has had plenty of good news on the economic front this week. The positive developments come after the world’s second largest economy was battered by widespread Covid lockdowns, a sweeping crackdown on tech companies and a real estate slump. … Read more

China’s economy is going backwards

Hong Kong CNN Business – China’s gigantic services sector just contracted at the second sharpest pace on record as Covid lockdowns hit businesses hard. The Caixin purchasing managers’ index, a closely-watched indicator for assessing the state of the economy, plummeted to 36.2 in April from 42 in March, according to a survey released by IHS … Read more