Funding & Business
Callen: Limited Impact of Shifting Winter Games in Saudi
Saudi Arabia and the Olympic Council of Asia are in talks with China and South Korea to potentially move the 2029 Asian Winter Games. It comes as Saudi Arabia faces construction challenges with its planned ski resort, Trojena. Tim Callen, visiting fellow at the Arab Gulf States Institute and Former IMF Mission Chief to Saudi Arabia spoke to Bloomberg’s Horizons Middle East and Africa anchor Joumanna Bercetche on the impact of this move on the country’s economy & global reputation. (Source: Bloomberg)
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Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at:
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Orix Corp.’s real estate investment unit has raised the target size of one of its funds by 33%, reflecting rebounding Japanese institutional investor demand for property market deals.
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China’s economy likely endured another month of weakness in August, with a slowdown in industrial output and investment offsetting a slight improvement in retail sales.
Official data due Monday will show factory production increased 5.6% in August from a year earlier, down from a 5.7% gain in the previous month, according to the median forecast in a Bloomberg survey. Retail sales growth is expected to pick up slightly to 3.8% after the weakest gain all year, while fixed-asset investment probably had its slowest expansion in almost half a decade.
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