Economy

Apple CEO Tim Cook visiting Mumbai in India earlier this year. Rafiq Maqbool / AP 

Sources: Apple quintuples production in India  

Apple plans to quintuple its production in India to the equivalent of $40 billion a year over the next five years. This is stated by government sources for the news agency PTI, according to several media.  

Apple, which already manufactures iPhones in the country, plans to also manufacture Airpods from next year, according to PTI's source.  

Bloomberg has sought Apple. 

Fed Chairman Jerome Powell Brendan Smialowski / AP 

Inflation concerns  

The shift: More central banks are predicted to lower than raise interest rates  

For the first time since the end of 2020, the majority of the world's 30 largest central banks are now forecast to cut interest rates rather than make more increases. That's according to Capital Economics calculations that the Financial Times has seen.  

Jennifer McKeown, chief economist at the research company, states that it is a "milestone" for monetary policy. 

 - The global cycle of austerity has reached its end, she tells the newspaper.  

This week, central banks in the United States and Great Britain, among others, chose to keep interest rates unchanged as a result of signs that the global economy is slowing down.  

The ghost town of Kunming in China. Shutterstock  

China's housing bubble "

Not even China's population can fill all the empty homes"  

Even China's entire population of 1.4 billion people could not fill all the country's empty apartments. That's according to He Keng, former head of China's National Bureau of Statistics.  

According to Reuters, it is a rare criticism directed at China's real estate market, which has suffered a major crisis in recent years. At the forefront are companies such as Evergrande and Country Garden, which are balancing on the precipice of ruin. 

- How many empty homes are there now? Three billion according to the most extreme calculations, He Keng said in a video first published by the state-run China News Service.

Scholz. Archive image. Julia Nikhinson / AP  

ECB vs inflation  

Scholz teaches homeowners: Can handle 4 percent interest  

German Chancellor Olaf Scholz defends the ECB's increase this week and believes that home owners should cope with a key interest rate of 4.0 percent, writes Bloomberg.  

At a campaign event in Nuremberg on Saturday, he emphasized that inflation "threatens economic growth and the financial power of citizens".  

The former finance minister also gave a history lesson where he explained that 700,000 apartments were built in West Germany in 1972 when the interest rate was as high as 9.5 percent. Scholz also encouraged his audience to ask their parents what their interest rates were when they built their homes.  

- You will be told that money was saved at that time. Interest rates are not the problem, the chancellor said, according to the news agency.