The International Monetary Fund (IMF) released its latest World Economic Outlook report on Tuesday, lowering its forecast for global economic growth in 2022 to 3.2%. The report also said that due to the impact of the new crown epidemic and epidemic prevention measures, China's economy has slowed down more than expected, and the International Monetary Fund has therefore lowered its full-year growth forecast to 3.3%.

Indonesian Industry Minister Saleh Husin inaugurated the new USD $60 million shoe factory of Changshin Reksa Jaya in Garut (West Java) which will produce Nike branded shoes. The shoe factory has an annual production capacity of 15 million pairs and will provide employment to 5,500 people. Reportedly, all of the shoes produced at this plant will be exported to Europe, USA, and other parts of Asia. Minister Husin stated that the new factory is highly appreciated as it will boost the country’s non-oil & gas exports.