China has dismantled the last pillar of its zero-Covid policy that has isolated the country and weighed on its economic growth, priming the world's second-largest economy for an uplift after three years of border closures.
There are no signs yet that the country's trade flows have been affected by a resurgence of Covid infections and eased border restrictions in December, according to a report by the Germany-based Kiel Institute for the World Economy.
"China's economy could receive a positive boost in the coming months from the lifting of the zero-Covid policy," Vincent Stamer, head of the Kiel Trade Indicator, said in the report.
Over the past month, China has begun gradually easing some of the world's strictest Covid-19 rules. These included frequent PCR tests, restricted movement and lockdowns that severely damaged its economy. The reopening is expected to revive an economy that has suffered its lowest growth in nearly half a century.
In December, the World Bank said it expected China's economy to grow 2.7 per cent in 2022, before recovering to 4.3 per cent in 2023, amid a reopening of the economy, according to Navigating Uncertainty, the latest China Economic Update released by the Washington-based lender.
China’s growth outlook faces "significant risks", stemming from the uncertain trajectory of the pandemic, how policies evolve in response to the Covid-19 situation and the responses of households and businesses, the World Bank said.
Additionally, "persistent stress" in the real estate sector could have wider macroeconomic and financial spillovers, while risks related to climate change are growing, it said.
External risks to China's growth outlook include highly uncertain global growth prospects, greater-than-expected tightening in financial conditions and heightened geopolitical tensions, according to the World Bank report.
In December, China's exports declined 2.4 per cent from the previous month, which is "within the normal fluctuation" and implies stagnation for the fourth quarter as a whole, while imports rose 4.8 per cent, the Kiel Trade Indicator data showed.
Globally, trade stabilised in December as 2022 drew to a close, particularly for the EU and Germany, despite continuing fears of an economic recession, the report said.
Global trade showed more activity in December, growing 0.9 per cent month-on-month, lead by growth in Europe, the data showed.
"Overall, global trade is stabilising, which is a good sign given that there continue to be fears of recession," Mr Stamer said.
In the EU, exports grew 2.7 per cent and imports were up 2.6 per cent in December compared to the previous month, the report said. In Germany, exports rose 2.3 per cent, but imports fell 1.5 per cent during the same period.
"German foreign trade can look back on a successful 2022 in the face of adverse circumstances. Neither the supply bottlenecks nor Russia's war of aggression led to any decisive slumps," Mr Stamer said.
"When the global economy has overcome its weak phase in 2023, this should also give German foreign trade an additional boost."
The US recorded an increase in exports of 1.5 per cent and a decrease in imports of 4.7 per cent compared to November.
Russia's trade remained under pressure in December, showing declines in both exports and imports of 2.5 per cent 4.4 per cent, respectively.
While global trade stabilised, the number of containers shipped was down significantly as a result of a weak global economy, the report said.
Since the beginning of 2022, the volume of containers traded has fallen from more than 14 million to the current number of about 13 million containers, it said.
UAE currency: the story behind the money in your pockets
Continental champions
Best Asian Player: Massaki Todokoro (Japan)
Best European Player: Adam Wardzinski (Poland)
Best North & Central American Player: DJ Jackson (United States)
Best African Player: Walter Dos Santos (Angola)
Best Oceanian Player: Lee Ting (Australia)
Best South American Player: Gabriel De Sousa (Brazil)
Best Asian Federation: Saudi Jiu-Jitsu Federation
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
Netherlands v UAE, Twenty20 International series
Saturday, August 3 - First T20i, Amstelveen
Monday, August 5 – Second T20i, Amstelveen
Tuesday, August 6 – Third T20i, Voorburg
Thursday, August 8 – Fourth T20i, Vooryburg
COMPANY PROFILE
Name: Grubtech
Founders: Mohamed Al Fayed and Mohammed Hammedi
Launched: October 2019
Employees: 50
Financing stage: Seed round (raised $2 million)
The Uefa Awards winners
Uefa Men's Player of the Year: Virgil van Dijk (Liverpool)
Uefa Women's Player of the Year: Lucy Bronze (Lyon)
Best players of the 2018/19 Uefa Champions League
Goalkeeper: Alisson (Liverpool)
Defender: Virgil van Dijk (Liverpool)
Midfielder: Frenkie de Jong (Ajax)
Forward: Lionel Messi (Barcelona)
Uefa President's Award: Eric Cantona
The bio
Favourite vegetable: Broccoli
Favourite food: Seafood
Favourite thing to cook: Duck l'orange
Favourite book: Give and Take by Adam Grant, one of his professors at University of Pennsylvania
Favourite place to travel: Home in Kuwait.
Favourite place in the UAE: Al Qudra lakes
Killing of Qassem Suleimani
The Breadwinner
Director: Nora Twomey
Starring: Saara Chaudry, Soma Chhaya, Laara Sadiq
Three stars
more from Janine di Giovanni
RESULTS
Manchester United 2
Anthony Martial 30'
Scott McTominay 90 6'
Manchester City 0
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
THE SPECS
Jaguar F-Pace SVR
Engine: 5-litre supercharged V8
Transmission: 8-speed automatic
Power: 542bhp
Torque: 680Nm
Price: Dh465,071
Bawaal%20
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Nitesh%20Tiwari%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Varun%20Dhawan%2C%20Janhvi%20Kapoor%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%201%2F5%3C%2Fp%3E%0A
LILO & STITCH
Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders
Director: Dean Fleischer Camp
Rating: 4.5/5
The biog
Place of birth: Kalba
Family: Mother of eight children and has 10 grandchildren
Favourite traditional dish: Al Harees, a slow cooked porridge-like dish made from boiled cracked or coarsely ground wheat mixed with meat or chicken
Favourite book: My early life by Sheikh Dr Sultan bin Muhammad Al Qasimi, the Ruler of Sharjah
Favourite quote: By Sheikh Zayed, the UAE's Founding Father, “Those who have no past will have no present or future.”
The%20Killer
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MATCH INFO
Liverpool v Manchester City, Sunday, 8.30pm UAE
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
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Heather, the Totality
Matthew Weiner,
Canongate
COMPANY%20PROFILE
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Six tips to secure your smart home
Most smart home devices are controlled via the owner's smartphone. Therefore, if you are using public wi-fi on your phone, always use a VPN (virtual private network) that offers strong security features and anonymises your internet connection.
Keep your smart home devices’ software up-to-date. Device makers often send regular updates - follow them without fail as they could provide protection from a new security risk.
Use two-factor authentication so that in addition to a password, your identity is authenticated by a second sign-in step like a code sent to your mobile number.
Set up a separate guest network for acquaintances and visitors to ensure the privacy of your IoT devices’ network.
Change the default privacy and security settings of your IoT devices to take extra steps to secure yourself and your home.
Always give your router a unique name, replacing the one generated by the manufacturer, to ensure a hacker cannot ascertain its make or model number.
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
if you go
The flights
Etihad and Emirates fly direct from the UAE to Seoul from Dh3,775 return, including taxes
The package
Ski Safari offers a seven-night ski package to Korea, including five nights at the Dragon Valley Hotel in Yongpyong and two nights at Seoul CenterMark hotel, from £720 (Dh3,488) per person, including transfers, based on two travelling in January
The info
Visit www.gokorea.co.uk
UAE SQUAD FOR ASIAN JIU-JITSU CHAMPIONSHIP
Men’s squad: Faisal Al Ketbi, Omar Al Fadhli, Zayed Al Kathiri, Thiab Al Nuaimi, Khaled Al Shehhi, Mohamed Ali Al Suwaidi, Farraj Khaled Al Awlaqi, Muhammad Al Ameri, Mahdi Al Awlaqi, Saeed Al Qubaisi, Abdullah Al Qubaisi and Hazaa Farhan
Women's squad: Hamda Al Shekheili, Shouq Al Dhanhani, Balqis Abdullah, Sharifa Al Namani, Asma Al Hosani, Maitha Sultan, Bashayer Al Matrooshi, Maha Al Hanaei, Shamma Al Kalbani, Haya Al Jahuri, Mahra Mahfouz, Marwa Al Hosani, Tasneem Al Jahoori and Maryam Al Amri
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UAE currency: the story behind the money in your pockets
The years Ramadan fell in May
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
UAE currency: the story behind the money in your pockets
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