Business
China’s economy rebounds after steep slump, weak demand, U.S. tensions raise risks

BEIJING (Reuters) – China’s economy returned to growth in the second quarter after a deep slump at the start of the year, but unexpected weakness in domestic consumption underscored the need for more policy support to bolster the recovery after the shock of the coronavirus crisis.
Asian share markets and the Chinese yuan CNY=CFXS fell, partly reflecting the broad challenges facing the world’s second-largest economy as it grapples with the double-whammy of the pandemic and heightened tensions with the United States over trade, technology and geopolitics.
Gross domestic product (GDP) rose 3.2% in the second-quarter from a year earlier, the National Bureau of Statistics said on Thursday, faster than the 2.5% forecast by analysts in a Reuters poll, as lockdown measures ended and policymakers ramped up stimulus to combat the virus-led downturn.
The bounce was still the weakest expansion on record, and followed a steep 6.8% slump in the first quarter, the worst downturn since at least the early 1990s.
“As we previously highlighted, policy support is still needed despite recovering growth momentum,” Betty Wang, ANZ bank’s senior China economist.
“The possibility of resurgences in local COVID-19 cases, global economic uncertainty and the deteriorating China-U.S. relationship all pose downside risks to China’s H2 growth outlook,” Wang said.
Those risks were partly reflected in separate retail data that showed Chinese consumers kept their wallets tightly shut, pointing to a bumpy outlook at home and overseas, as many countries continue to grapple with the COVID-19 pandemic – led by surging infections in the United States.
Though June indicators and GDP numbers largely beat expectations, Rodrigo Catril, a foreign exchange strategist at NAB in Sydney, said they also revealed “the China consumer remains behind in terms of the recovery story.”
“It’s very much a story of government stimulus-led recovery, which is very much focused on the industrial side. The consumer remains very cautious. That cautiousness is something the market is looking at in terms of countries where the consumer plays a bigger role, so that’s obviously relevant for the U.S. as well.”
Retail sales were down 1.8% on-year in June – the fifth straight month of decline and much worse than a predicted 0.3% growth, after a 2.8% drop in May.
Domestic job losses have been one of the worries for consumers, as many businesses struggled to stay in the black.
Wanda Film, for example, China’s largest cinema chain operator which has more than 600 cinemas, on Tuesday warned of a first half net loss of 1.5-1.6 billion yuan ($214-228 million), after the coronavirus kept its cinemas shut for almost the entire period.
U.S. tensions, structural issues
In the first half of the year, the economy contracted 1.6% from a year earlier, underscoring the sweeping impact of the virus which first emerged in China late last year and has killed over 583,000 people worldwide.
The rising tensions with the United States and the pandemic have added to structural issues that China has been facing for years, including demographic changes, over-investment, low industrial productivity and high debt levels.
On a quarter-on-quarter basis, GDP jumped 11.5% in April-June, the NBS said, compared with expectations for a 9.6% rise and a 10% decline in the previous quarter.
The government is expected to offer more support on top of a raft of measures already announced, including fiscal spending boost, tax relief and cuts in lending rates and banks’ reserve requirements.
But debt worries have kept a leash on China’s stimulus tap. Net fiscal stimulus unveiled so this year amounted to just over 4 trillion yuan ($571.76 billion), much restrained compared the spending burst in other major economies including the United States and Japan.
The Institute of International Finance estimates China’s total debt rose to 317% of gross domestic product in the first quarter of 2020, up from 300% in late 2019 and the largest quarterly increase on record.
The industrial economy offered some hope for the nation as it tries to regain its footing, with output in the vast sector rising 4.8% in June from a year earlier, the third straight month of growth, the data showed, quickening from a 4.4% rise in May.
Fixed asset investment fell a less-than-expected 3.1% in the first half from the same period in 2019, moderating from a 6.3% decline in the first five months, while real estate investment growth also quickened to 8.5% in June, thanks to the credit boost.
While the International Monetary Fund has forecast China to expand 1.0% for the full year, the only major economy expected to report growth in 2020, many analysts caution about the outlook.
“Domestic demand will drive China’s recovery ahead, but external demand could be a risk to the growth outlook given the possibility of large second round of coronavirus infections overseas,” said Oshimasa Maruyama, chief market economist at SMBC Nikko Securities in Tokyo.
Reporting and photo: Reuters
Business
Dubai Chocolate Brownies in Maldives: BBM, Dreidoppel conclude pastry tour

BBM’s exclusive Dreidoppel Demo Tour, led by Master Pâtissier Frankie Robin, concluded successfully on Apr 30th, after a 10-day pastry training series across 15 leading Maldivian resorts that requested the training. Two city bakeries were also trained on the 30th. The initiative brought together global expertise and a strong commitment to raising pastry standards in the local hospitality industry.
This year’s sessions focused on practical pastry solutions using Dreidoppel’s premium ingredient range to create Panettone, Dubai chocolate brownies, Mousses, Crème Brûlée, Fill & Gloss applications, and Caramel Chocolate Snacks.

A standout feature of the tour was the passion shown by young chefs across the islands.
Chef Frankie Robin remarked, “What truly impressed me was how prepared and passionate the young chefs were. Their eagerness to learn, experiment, and take their skills to world-class standards made every session an absolute joy.”

Grounded in real kitchen challenges—speed, flavour, and efficiency—Chef Frankie’s demos showcased how smart ingredient choices can drive both creativity and performance.
A.V.S. Subrahmanyam, Chief Operating Officer at BBM, added, “At BBM, we believe in more than just supplying ingredients—we are committed to the professional growth of the industry. Collaborations like this empower culinary teams with global techniques and greater confidence.”
The tour reflects BBM’s ongoing efforts to strengthen the Maldivian foodservice industry through knowledge-sharing and access to world-class products.
Business
BBM brings Vaseline, Hellmann’s, BRU Coffee to Maldives market

Bestbuy Maldives (BBM) extended their strong and decades old partnership with Unilever International, by adding to their brand portfolio – Vaseline, Hellmann’s, and BRU Coffee for the Maldivian market.
The collaboration was announced at a Business gathering held at the Manhattan Business Hotel, attended by over 300 trade partners from across Maldives.

With this partnership, BBM strengthens its retail offerings across the Maldives archipelago. Vaseline, a trusted name in skincare, and Hellmann’s, known globally for quality food products, will now be available through BBM’s distribution network.
“Vaseline is a name that generations trust for skin care. And Hellmann’s is a global icon in flavours. We’re proud to bring both to shelves across the Maldives and enrich everyday living for our customers,” said Muksith Hussain, Business Head – Retail.
In the hospitality sector, BBM introduces Bru Coffee as an addition to its HORECA (Hotel, Restaurant, Café) offerings. BRU Coffee provides a quality beverage option for hotels, resorts, and restaurants across the Maldives.

“BRU is one of the most loved coffee brands in the region. With this launch, we’re giving our hospitality partners a versatile product that delivers on both taste and reliability that can be consumed as a beverage and for the purpose of dessert preparation, something they can serve with confidence,” said Hisham Girsy, Business Head – HORECA.
The gathering served as a platform for BBM to engage with its valued trade partners and introduce these new brands to the market.
A.V.S Subrahmanyam, Chief Operating Officer at BBM, remarked: “BBM is built on relationships. This event reflects our commitment to not just introduce great products but to support, connect, and elevate our trade partners. We’re in this together, and the journey ahead is promising.”

As BBM continues to grow its portfolio and global partnerships, the focus remains clear delivering excellence, building trust, and shaping the future of trade in the Maldives.
Bestbuy Maldives (BBM) is a leading distribution company in the Maldives, connecting international brands with local businesses across retail and hospitality sectors. With a customer-focused approach and extensive distribution network, BBM continues to be a trusted partner in the Maldivian market.
Business
Redefining corporate retreats at Cinnamon Dhonveli Maldives

MICE travel is undergoing a sea change—quite literally. No longer limited to traditional conference rooms and structured schedules, Meetings, Incentives, Conferences, and Events (MICE) are now about creating moments that inspire, rejuvenate, and bring teams closer together. At Cinnamon Dhonveli Maldives, the boundaries between business and leisure blur, offering a setting that transforms work into a pleasure.

Just a 20-minute speedboat ride from Malé, Cinnamon Dhonveli Maldives is the ideal destination for teams looking to escape the expected. Here, brainstorming sessions take place on powder-soft beaches, where the rhythmic waves set the pace for new ideas. Mornings might begin with yoga by the ocean, followed by strategy meetings in open-air pavilions. Afternoons invite collaborative workshops under swaying palms or team-building activities that include snorkelling, paddleboarding, or even a friendly beach volleyball match.

Dining at Cinnamon Dhonveli Maldives elevates every corporate event with fresh, sea-to-table cuisine, designed to fuel both body and mind. From curated group dinners under star-streaked skies to themed private banquets, every meal becomes an experience in itself. For those looking to celebrate milestones or reward top performers, the resort’s scenic locations offer the perfect backdrop for gala evenings or intimate cocktail gatherings.

Accommodation blends comfort with elegance, offering ocean-view suites and beachside retreats that allow participants to rest, recharge, and return with a fresh perspective. Despite the remote charm, connectivity is never an issue—seamless Wi-Fi and business-friendly amenities ensure that productivity doesn’t pause, even in paradise.

Cinnamon Dhonveli Maldives turns corporate travel into something memorable. Whether it’s a leadership retreat, a high-level conference, or an incentive escape, the resort offers a canvas for events that leave lasting impressions. Here, business goals are pursued in harmony with nature, creativity flows effortlessly, and the line between work and well-being fades.
Let your next MICE experience be more than a meeting—make it a journey worth sharing.
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