China's economic leaders are set to hold a crucial conclave next week to discuss the country's GDP targets and potential stimulus measures. This meeting aims to address economic challenges and outline strategies to boost growth amid slowing economic performance. Watch in for more details!

China's Economic Conclave: Chinese Leaders Plan To Discuss GDP Target, Stimulus Next Week

China has reaffirmed its commitment to global cooperation amid rising trade tensions with the united states. This comes after U.S. President-elect Donald Trump threatened additional tariffs on Chinese imports, reigniting fears of economic decoupling. Our next report dives into the latest developments and their implications for the global economy. Take a look.

Donald Trump's Anti-China Trade Stance Sparks Yuan Slide | World News | WION

Sri Lanka begins post-election plan to fix its economy. Country to change vehicles and housing allowance for ministers. Watch to know more!

Sri Lanka: No More State Bungalows For Ministers In Massive Expenditure Crackdown | Race To Power

Hong Kong is set to showcase 2,500 panda sculptures starting on Saturday, December 7, following the birth of two cubs at a local theme park. The exhibits were displayed at Hong Kong’s airport on Monday, December 2, in a launch ceremony of PANDA GO! FEST HK, the city’s biggest panda-themed exhibition.

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Excited to welcome 2,500 PANDA GO panda sculptures to Hong Kong!🎉Today, we celebrated their arrival with a Grand Welcome ceremony. Even local stars like Louis Koo and Charmaine Sheh couldn’t resist! 
 
Meet these adorable pandas at various locations across the city this December! <a href="https://t.co/dcJMpF34g7">pic.twitter.com/dcJMpF34g7</a>
— Hong Kong (@discoverhk) <a href="https://twitter.com/discoverhk/status/1863528613817311542?ref_src=twsrc%5Etfw">December 2, 2024</a></blockquote>
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The sculptures will be publicly displayed at the Avenue of Stars in Tsim Sha Tsui, a well-known shopping location following showcasing in three more places this month, including Ocean Park, where the twin cubs reside with their parents and two other pandas that were gifted by Beijing earlier this year.

Six of the panda sculptures were inspired by these bears. The sculptures are made of rubber barrels, resins and other materials.

Also read |&nbsp;<a href="https://www.wionews.com/world/biowarfare-in-wwii-chinese-scientists-say-japan-injected-prisoners-with-pathogens-781085">Biowarfare in WWII? Chinese scientists say Japan injected prisoners with pathogens</a>

The mother of the cubs, Ying Ying, who became the world’s oldest first-time panda mother in August, may be open to visitors by February next year.

In another event on Monday (Dec. 2) at Ocean Park, the new pair of pandas, An An and Ke Ke, that arrived from Beijing, were open to media preview. While An An was seen enjoying bamboo, Ke Ke climbed on an installation. They will be open to visit by the public on Sunday, December 8.

<h2>Panda economy</h2>

The exhibitions in Hong Kong reflect the boost in its economy as the Chinese financial hub attracts&nbsp;more tourism through pandas.

Also read |&nbsp;<a href="https://www.wionews.com/world/european-commission-proposes-to-weaken-wolves-safeguards-sparking-controversy-781079">European Commission proposes to weaken wolves safeguards, sparking controversy</a>

Pandas are seen as the unofficial mascot of China, with various giant pandas given on loan&nbsp;to overseas zoos in what&nbsp;is considered a soft-power diplomatic tool.

Hong Kong’s tourism industry is hoping to see increased visitors fir the six pandas despite the cost of panda care being expensive. Authorities have urged businesses to make use of the bears’ popularity and seize the opportunities in the “panda economy.”

The organisers have invited some famous public figures, including musician Pharrell Williams, to make special-edition sculpture designs. Most of the pandas were auctioned, and the money will be donated to Ocean Park for panda conservation efforts.

(WIth inputs from agencies)

Hong Kong is set to showcase 2,500 panda sculptures starting on Saturday, December 7, following the birth of two cubs at a local theme park. The exhibits were displayed at Hong Kong’s airport on Monday, December 2, in a launch ceremony of PANDA GO!

Hong Kong is set to showcase 2,500 panda sculptures starting on Saturday, December 7, following the birth of two cubs at a local theme park. The exhibits were displayed at Hong Kong’s airport on Monday, December 2, in a launch ceremony of PANDA GO! FEST HK, the city’s biggest panda-themed exhibition. Excited to welcome 2,500 PANDA GO panda sculptures to Hong Kong!🎉Today, we celebrated their arrival with a Grand Welcome ceremony. Even local stars like Louis Koo and Charmaine Sheh couldn’t resist! Meet these adorable pandas at various locations across the city this December! pic.twitter.com/dcJMpF34g7 — Hong Kong (@discoverhk) December 2, 2024 × The sculptures will be publicly displayed at the Avenue of Stars in Tsim Sha Tsui, a well-known shopping location following showcasing in three more places this month, including Ocean Park, where the twin cubs reside with their parents and two other pandas that were gifted by Beijing earlier this year. Six of the panda sculptures were inspired by these bears. The sculptures are made of rubber barrels, resins and other materials. Also read | Biowarfare in WWII? Chinese scientists say Japan injected prisoners with pathogens The mother of the cubs, Ying Ying, who became the world’s oldest first-time panda mother in August, may be open to visitors by February next year. In another event on Monday (Dec. 2) at Ocean Park, the new pair of pandas, An An and Ke Ke, that arrived from Beijing, were open to media preview. While An An was seen enjoying bamboo, Ke Ke climbed on an installation. They will be open to visit by the public on Sunday, December 8. Panda economy The exhibitions in Hong Kong reflect the boost in its economy as the Chinese financial hub attracts more tourism through pandas. Also read | European Commission proposes to weaken wolves safeguards, sparking controversy Pandas are seen as the unofficial mascot of China, with various giant pandas given on loan to overseas zoos in what is considered a soft-power diplomatic tool. Hong Kong’s tourism industry is hoping to see increased visitors fir the six pandas despite the cost of panda care being expensive. Authorities have urged businesses to make use of the bears’ popularity and seize the opportunities in the “panda economy.” The organisers have invited some famous public figures, including musician Pharrell Williams, to make special-edition sculpture designs. Most of the pandas were auctioned, and the money will be donated to Ocean Park for panda conservation efforts. (WIth inputs from agencies)

Hong Kong to showcase 2,500 panda sculptures. Here’s why

Volkswagen and Toyota tops the list of companies with the highest net debt. Takeovers propel global borrowing to record levels. Watch to know more!

Volkswagen Tops Corporate Debt Rankings, Takeovers Propel Corporate Borrowing | World News | WION

The technology war between the U.S. and China is escalating. on Thursday, China warned it would take "necessary actions" to protect its firms if the U.S. imposed new chip control measures. reports suggest the Biden administration is preparing to blacklist as many as 200 Chinese semiconductor companies, restricting their access to u.s. technology and equipment. Watch to know more!

China Vows Action As U.S. Mulls New Chip Export Restrictions | World Business Watch | WION

China’s large industrial firms reported a sharp decline in profits for October, as weak demand and a property market slump hit key sectors. The national bureau of Statistics revealed that combined profits fell 10% year-on-year last month, worsening the year-to-date decline to 4.3%.

China's Industrial Profits Fall Amid Property Market Slump | World Business Watch | WION

The price of arabica coffee has surged to its highest level since 1977. this marks a new milestone in the ongoing rally, surpassing a nearly 30-year high earlier this week. the record for arabica was set in 1977. The primary driver is Brazil’s record-breaking drought, which has significantly impacted its coffee crop—the world’s largest.

Brazil's Drought Drives Arabica To Highest Price Since 1977 | WION Business Watch | World News

JPMorgan's annual outlook warns that emerging markets face a turbulent 2025, with significant uncertainty stemming from policy shifts in the United States and ongoing challenges in China. the bank predicts that growth across emerging markets will slow to 3.4% in 2025, down from 4.1% this year.

JPMorgan Warns Of Tough Year Ahead For Emerging Markets In 2025 | World Business Watch | WION

Big changes are coming to Hungary’s minimum wage. the government has announced plans to raise the minimum wage by 40% by 2027... a move designed to boost the economy. but with inflation already a concern...critics warn this could make the situation worse.

Hungary Faces Tough Economic Choices As Elections Approach | World Business Watch | World News

China, the world's second-largest economy, is grappling with a silent crisis: a rapid decline in the population of its border regions. Vital trade hubs are losing residents at an alarming rate, raising concerns over national security and economic growth. Our next report delves into the reasons behind this demographic decline and the potential consequences for China. Take a look...

China's Ageing Population: A Threat To Border Security & Economy

Russia’s inflation has taken a toll on essentials, with food prices soaring as the country’s economy continues to feel the weight of war. Butter has seen prices rise by 30% since last december, and essentials like sunflower oil and vegetables have spiked alongside it.

Russia's Cost Of War Hits Homes: Bread & 'Butter' At Stake

China's Ageing Population: A Threat To Border Security and Economy

Sri Lanka's new leftist government has agreed to press ahead with a controversial IMF bailout program that involves tough austerity and economic reforms, the international lender announced Saturday.

The International Monetary Fund said it reached an agreement with President Anura Kumara Dissanayake's administration to continue with the four-year loan negotiated by his predecessor last year.

"The authorities have committed to staying within the guardrails of the programme," IMF team leader Peter Breuer told reporters at the end of talks with the new government.

He said the new government's commitment ensured policy continuity.

"Sustaining the reform momentum is critical to safeguarding the hard-won gains of the programme, and putting the economy on a path towards lasting recovery and stable and inclusive growth," Breuer added.

Sri Lanka went to the IMF for a rescue package after the country defaulted on its $46 billion external debt in April 2022 during an unprecedented economic meltdown.

<a href="https://www.wionews.com/south-asia/sri-lanka-president-dissanayake-retains-defence-and-finance-in-new-cabinet-777192">Also read:&nbsp;Sri Lanka: President Dissanayake retains defence and finance portfolios in new cabinet</a>

The shortage of foreign exchange, which left the country unable to finance even the most essential imports of food and fuel, led to months of street protests and forced then-president Gotabaya Rajapaksa to resign.

The $2.9 billion loan secured early last year required Colombo to sharply raise taxes, remove generous energy subsidies, and agree to restructure more than 50 loss-making state enterprises.

Dissanayake's predecessor Ranil Wickremesinghe secured the rescue that involved the disbursement of a $2.9 billion loan over four years.

In his first address to parliament, after his National People's Power party won a landslide at the November 14 election, Dissanayake backed the IMF deal on Thursday, marking a U-turn from his election pledge.

The dissatisfaction with traditional politicians held responsible for the economic collapse was a key driver of Dissanayake's electoral success.

Dissanayake said there was no room to make any mistakes in managing the economy.

Watch |&nbsp;Sri Lanka's New President Seeks IMF Deal Revisions, Eases Austerity

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According to Breuer, the new government's pledge to fight corruption will "reinvigorate governance reforms", rebuild economic confidence, and make growth more robust and inclusive.

Sri Lanka will now be able to draw down $333 million, subject to IMF board approval, by the end of the year.

Last month, Dissanayake's interim cabinet signed off on a controversial restructuring of $14.7 billion in foreign commercial credit tentatively agreed by Wickremesinghe.

The debt restructuring is a key IMF demand to rebuild the island's economy, which shrank 7.8 per cent in 2022, its worst performance ever.

Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION&nbsp;audience.

Sri Lanka's new leftist government has agreed to press ahead with a controversial IMF bailout program that involves tough austerity and economic reforms, the international lender announced Saturday.

Sri Lanka's new leftist government has agreed to press ahead with a controversial IMF bailout program that involves tough austerity and economic reforms, the international lender announced Saturday. The International Monetary Fund said it reached an agreement with President Anura Kumara Dissanayake's administration to continue with the four-year loan negotiated by his predecessor last year. "The authorities have committed to staying within the guardrails of the programme," IMF team leader Peter Breuer told reporters at the end of talks with the new government. He said the new government's commitment ensured policy continuity. "Sustaining the reform momentum is critical to safeguarding the hard-won gains of the programme, and putting the economy on a path towards lasting recovery and stable and inclusive growth," Breuer added. Sri Lanka went to the IMF for a rescue package after the country defaulted on its $46 billion external debt in April 2022 during an unprecedented economic meltdown. Also read: Sri Lanka: President Dissanayake retains defence and finance portfolios in new cabinet The shortage of foreign exchange, which left the country unable to finance even the most essential imports of food and fuel, led to months of street protests and forced then-president Gotabaya Rajapaksa to resign. The $2.9 billion loan secured early last year required Colombo to sharply raise taxes, remove generous energy subsidies, and agree to restructure more than 50 loss-making state enterprises. Dissanayake's predecessor Ranil Wickremesinghe secured the rescue that involved the disbursement of a $2.9 billion loan over four years. In his first address to parliament, after his National People's Power party won a landslide at the November 14 election, Dissanayake backed the IMF deal on Thursday, marking a U-turn from his election pledge. The dissatisfaction with traditional politicians held responsible for the economic collapse was a key driver of Dissanayake's electoral success. Dissanayake said there was no room to make any mistakes in managing the economy. Watch | Sri Lanka's New President Seeks IMF Deal Revisions, Eases Austerity × According to Breuer, the new government's pledge to fight corruption will "reinvigorate governance reforms", rebuild economic confidence, and make growth more robust and inclusive. Sri Lanka will now be able to draw down $333 million, subject to IMF board approval, by the end of the year. Last month, Dissanayake's interim cabinet signed off on a controversial restructuring of $14.7 billion in foreign commercial credit tentatively agreed by Wickremesinghe. The debt restructuring is a key IMF demand to rebuild the island's economy, which shrank 7.8 per cent in 2022, its worst performance ever. Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

IMF approves third review of Sri Lanka's $2.9 billion bailout

Japan unveils a $140 billion plan aimed at combating inflation and stimulating growth in key sectors of its economy.

Japan Rolls Out $140 Billion Plan To Tackle Inflation and Boost Key Sectors

Once celebrated for its economic boom and cultural influence, Japan now faces a somber reality: foreign men are flocking to Tokyo, drawn by its burgeoning sex trade.

Tokyo Sees Influx in Sex Tourism as the Economy Weakens | GRAVITAS

Maharashtra, contributing over 10% of India’s GDP, is India’s top economic driver due largely to Mumbai, the country's commercial capital. However, despite the city's prosperity, the state’s economic health is under pressure.

Maharashtra Election: High Stakes For India's Richest State

Global commodity markets have been in a holding pattern. The latest data from the top commodities consumer —China showing deflation threats lingering, deepens the gloom in commodities. Watch in for more details!

China's Economic Rescue Plan Disappoints Commodities Traders

Pakistan's top talent is leaving the country in record numbers. Economic hardship has pushed skilled workers to move abroad, hollowing out banks, hospitals and multinational companies. Take a look at this report for more...

Severe Brain Drain Across Pakistan?

The Indian rupee has fallen significantly this year, hitting several record lows repeatedly in recent weeks. This comes even as the prospect for the economy remains broadly bright and bets on India's growth story have risen.

Why Is The Rupee At Record Low Despite Strong Economic Growth?

Pakistan has experienced some of the highest inflation rates in Asia in recent years, surpassing many of its regional neighbors. Driven by factors such as rising food prices, currency depreciation, and economic instability, inflation has significantly impacted the cost of living for Pakistanis. The country's economic challenges have been exacerbated by fiscal deficits, political turmoil, and global economic pressures, making it one of the most inflation-prone nations in the region.

Pakistan's Inflation Outranked Other Asian Nations In Past Few Years

India's e-commerce sector has reported a significant milestone during this year's festive season. Sales were almost $12 billion, marking a 23% increase from last year. What has fuelled this demand and what are the latest shopping trends...We decode that in our next report...Take a look.

India’s Festive Season Drives E-Commerce Sales to $11.9 BN

Global market moves this week suggest the US Election is on a knife's edge. Risk-off sentiment has been building, and the so-called 'trump trade' has been unwinding. Bitcoin has crashed from near record highs, reflecting the mood of a close election fight.

Global Markets Roundup: Traders Prepare for a Long, Close & Volatile US Election Fight

The price of butter has risen sharply in Russia. This comes as a result of Moscow's struggles to establish alternative supply lines to offset its wartime isolation from the west.

Russian Butter Squeeze Highlights Growing Economic Toll From War

The S&P global ratings gave a thumbs-up to Turkiye's economy. The ratings agency raised Turkiye's credit rating for the second time this year. S&P cited strong forex reserve building, disinflation, and a reduction in the current account deficit for is upgrade.

S&P Gives a Thumbs-Up to Turkiye's Economy

As 2024 draws to a close, the Chinese government may now say "Mission accomplished" on the made in China 2025 initiative, which has been in the works for over a decade.

China Risks Remain Despite Manufacturing Crown

For markets bolstered by dovish central banks, expanding economies and receding inflation, the news as November begins is how vulnerable they've become. Long-standing pillars of strength are showing cracks. Take a look at this report to understand the 'oohs and ahhs' of this week's electoral and fiscal fireworks...

US Election & Fed Dominate the Calendar

With the US election turning out to be one of the most tightly contested in recent history, gold prices increased to new heights last week putting them on track for their greatest year since 1979. Watch this report for more.

Gold Bets Rise As Coin-Toss Election Looms

The yuan's use in international payments fell by the highest on record last month. This is based on transaction data gathered by international financial messaging provider swift.

Use of Yuan in Global Payments Drop Sharply

Bangladesh is facing pressing economic challenges with a rising income gap. Employment in key sectors like ready-made garments has stagnated. Many are struggling to make ends meet. Can the interim leader Muhammad Yunus be able to revive Bangladesh's economy?

Can Muhammud Yunus Put Bangladesh's Economy Back on Track?

Let's look at wion's monthly global economic health check. First, let's look at how global markets performed in october. Broadly, commodities, digital assets and the dollar rose, driven by differing bets. Bitcoin surged over 10% on the so-called 'trump trade,' with the top token now on the verge of breaching its previous record high set in march. Gold was the other big benficiary in october.

Gold, Bitcoin Register Gains in a Volatile Month

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