Tomorrowland bets on Chinese dance music fans with first indoor event
“Are you ready Shanghai?!” screamed the DJ, his glowing booth nestled at the heart of a huge intricate structure of pulsating colour and sound. Thousands roared back “yes!” as Tomorrowland, one of the world’s biggest dance music festivals, made its China debut this weekend. The move is a vote of confidence in the country’s small […]
Serbia’s sole refinery faces shutdown after US sanctions
Serbia’s only oil refinery prepared to shut down on Tuesday, as the country’s president set a deadline for the firm’s Russian majority-owners to sell out and end US sanctions. President Aleksandar Vucic, speaking to the press in Belgrade, said the Pancevo refinery had scaled back operations, with a “complete halt” just four days away. “It […]
US retail sales miss expectations as consumers see higher costs
US retail sales grew at a slower pace than anticipated in September, government data showed Tuesday, as higher prices added to affordability concerns while firms grappled with an uptick in business costs. Publication of official economic data has recently been delayed by a record-long goverment shutdown, and the latest figures suggest that consumer spending lost […]
Chinese factory, consumer activity slow amid economy struggles
China’s economy showed further signs of weakness last month, with key data Monday revealing factory output and consumption rising at their weakest pace for around a year. Beijing has struggled to fully reignite the world’s number two economy since the end of the Covid-19 pandemic, with the once-booming property sector mired in a debt crisis […]
Asia stocks tumble after Trump tariffs
Asian markets tumbled on Tuesday after US President Donald Trump heaped tariffs on Chinese imports and warned levies on Mexico and Canada could not be averted. Japan’s Nikkei and Hong Kong’s Hang Seng saw the biggest drop, tumbling more than two percent and 1.5 percent respectively. It comes after the White House said Trump had […]
Toyota announces Lexus EV plant in Shanghai
Japan’s Toyota said Wednesday it will build an electric vehicle plant in Shanghai for its luxury Lexus brand, at a time when many foreign car companies are struggling in China. The world’s top-selling automaker made the announcement as it hiked its annual net profit forecast to almost $30 billion as well as its revenue projection. […]