Asia Economy
How a $60 billion crypto collapse got regulators worried
The stunning collapse of a token that was meant to always be worth $1 has roiled investors — and regulators. Stablecoins are supposed to be everything tokens like bitcoin and ether aren’t. Whereas bitcoin’s price fluctuates sharply, stablecoins are designed to be worth the same as something else — usually the U.S. dollar. Many stablecoins […]
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Why one stock brokerage is bullish on Reliance Industries and Infosys
India’s stocks didn’t have a good start in the first half of the year, but stock brokerage Kotak Securities remains bullish on two stocks. Reliance Industries, an energy and telecommunications conglomerate, has been making a lot of small acquisitions and is “very aggressive” in converting companies into digital businesses, said Shrikant Chouhan, executive vice president […]
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G-7’s infrastructure funding plan offers an alternative to China’s BRI in a ‘deliberate way’
The Group of 7 has announced a new infrastructure funding program that could rival China’s Belt and Road Initiative. One expert says the G-7’s plan offers hope to developing countries but it remains to be seen whether it can match the BRI. On Sunday, the U.S. and the other members of the G-7 including Canada, […]
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Sri Lanka stops fuel supply to non-essential services as crisis worsens
A closed Ceylon Petroleum Corporation fuel station displays the availability of all fuel types on a board due to fuel shortage, amid the country’s economic crisis, in Colombo, Sri Lanka, June 27, 2022. Dinuka Liyanawatte | Reuters Sri Lanka will shut schools and only allow fuel supplies to services deemed essential like health, trains and […]
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Lifting of Covid restrictions in Thailand will boost travel and services industries, says hospitality firm
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Micah Tamthai of Minor International discusses how the release of pent-up demand might affect Thailand’s tourism industry and its services industry, which he says is the “backbone” of the country’s economy. Source
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The No. 1 city in the world to travel and work remotely is in the US—and it isn’t New York or LA
Americans don’t need a passport to get to the No. 1 global city to take a working vacation. Kansas City, Missouri, was named the best city in the world to work during the day and explore after hours without having to use too much of your PTO time, according to a recent analysis from Icelandair. […]
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European stocks log best session in more than 3 months; tech shares gain 3.8%
LONDON — European markets closed sharply higher on Friday to end a volatile week, as investors around the world assessed inflation and fears of an economic recession. The pan-European Stoxx 600 index closed up by 2.6% provisionally, its best day in more than three months, with tech shares adding 3.8% to lead gains as all […]
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World’s most livable cities: Vienna climbs back to its No. 1 spot. These are the biggest decliners
Vienna ranked first in 2018 and 2019, but was overtaken by Auckland, New Zealand, during the pandemic and slipped to 12th place in 2021, according to the Global Liveability Index 2022. Sylvain Sonnet | The Image Bank | Getty Images After two years, Vienna has overtaken Auckland as the world’s most livable city, according to […]
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China’s steel mill owners are in a bad mood as demand takes a hit
Steel mill owners in parts of China are in a bad mood, Beijing-based commodities consultant Simon Wu said. Steel inventories are slowly piling up in the warehouses of the country’s biggest steelmaking hub, the northeastern city of Tangshan, as well as in the provinces of Jiangsu and Shandong, mill owners told Wu, a senior consultant at […]
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Tourists are flocking back to Southeast Asia — but the robust recovery is showing signs of cracks
After more than two years of lockdowns and border controls, Southeast Asia is finally experiencing some semblance of the old days of travel. Flights are steadily returning to 2019 levels in the region’s major economies, with Singapore, Thailand and Malaysia being the most popular destinations this year, according to the flight data analytics firm Cirium. […]
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