Malaysia Scraps Island Airport Plan Amid Environmental Concerns
Malaysia rejected a bid by tycoon Vincent Tan to build an international airport on Tioman island, saying the proposal would cause damage to the environment.
Bloomberg Business
Philippines Won’t Remove Ship in South China Sea, Marcos Says
Philippine President Ferdinand Marcos Jr. said the country will not pull out a World War II-era ship in a shoal in the South China Sea that has become the latest flashpoint in its heightening dispute with China.
Malian Lawmakers Approve Code to Raise State’s Stake in Mining
Mali’s parliament adopted a new mining code that will increase the government’s stake and local shareholding in the extractive industry to about a third.
UK Heads for Five Years of Lost Growth as Leveling Up Fails
The UK is headed for five years of lost economic growth as the government fails in its goal to “level-up” the country’s regions and reduce inequality, an influential think tank says.
Ukraine Recap: Talks Ongoing to Restart Grain Deal, Erdogan Says
Turkish President Recep Tayyip Erdogan said he aims to revive and expand the scope of the deal that allowed Ukraine to export grain via the Black Sea, calling on Western countries to help turn the initiative into a basis for peace.
European Stocks Jump as Banks Rebound After Italy-Fueled Rout
European stocks rallied, led by a bounce in Italian banks, as investors weighed Rome’s backtracking on part of its windfall tax on lenders.
World Bank Halts New Funding to Uganda Over Anti-LGBTQ Laws
The World Bank halted new loans to Uganda over the East African government’s enactment of anti-LGBTQ laws that include the death penalty in some cases.
Bond Market Inflation Gauge Shows Doubts About Swift Fed Victory
A closely watched bond-market gauge of expected US inflation is rising back toward a nine-year high, signaling concern the Federal Reserve may continue to wrestle with elevated price pressures for years.
UK to Review Energy Price Cap as Market Costs Slide
UK Energy Secretary Grant Shapps is set to examine potential changes to the price cap on household power and gas bills as part of a wider drive to restore competition to the sector.
Country Garden Is in Danger of a Default Rivaling Evergrande
A debt crisis that rivals China Evergrande Group’s default may be brewing in the world’s second-largest economy.