Economic developing countries news coverage

China’s posts slowest growth ever in ‘618’ shopping event

Total sales by China’s e-commerce giant (9618.HK) rose 10.3% over the 18 days to Sunday during the first major shopping festival since a recent COVID-19 outbreak, the company said, sharply down from the 2021 event’s growth of 27.7%. Reuters news says This year’s figure was the slowest for the retailer, showing how consumer appetite […]
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Tencent Music quarterly revenue falls as competition heats up

China’s Tencent Music Entertainment Group (TME.N) posted a 15% fall in quarterly revenue on Monday, hit by easing demand for its music streaming platform amid stiff competition. Reuters said Chinese regulators stripped Tencent Music of its exclusive contracts with big music labels in 2021, spurring competition from rivals such as Cloud Music and short video sharing […]
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Sydney to London route will become world’s longest direct flight at 20 hours

Travellers will be able to fly non-stop from Sydney to London after Qantas announced the world’s longest direct commercial flight. Sky news reported The airline said the 20-hour journey will become possible when it takes delivery of a dozen Airbus A350-1000 planes, which can do more than 10,000 miles without refuelling. A Sydney to New […]
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Chinese Vice Premier calls for greater effort to stabilise foreign trade

Chinese Vice Premier Hu Chunhua called on Saturday for greater efforts to stabilise foreign trade amid a complex external environment, the official Xinhua news agency reported. Several top officials have in recent months warned of uncertainty in foreign trade, which helped drive the world’s second-largest economy in 2021, with global demand and high raw material […]
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