Asia Economy
Bank of Japan maintains ultra-low rates, warns it is closely watching yen moves
Pedestrians walk in front of the Bank of Japan head office building in Tokyo on April 27, 2022. The Bank of Japan maintained ultra-low interest rates on Friday and its guidance to keep borrowing costs at “present or lower” levels, signaling its resolve to focus on supporting the economy’s tepid recovery from the Covid-19 pandemic. […]
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Travel has become much more valuable and people are willing to pay more, says Malaysia’s Capital A
Tony Fernandes of the airline discusses its timeline for returning to pre-Covid capacity. Source
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Sequoia says it is optimistic about Southeast Asia’s start-ups despite challenging market
Venture capital firm Sequoia is still “quite optimistic” about long-term prospects for start-ups, despite the recent market volatility. “This is a particularly challenging market for founders to get started,” Abheek Anand, managing director of Sequoia Southeast Asia, told CNBC’s “Squawk Box Asia” on Wednesday. When asked about the firm’s outlook for Southeast Asia’s start-ups, Anand […]
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Chinese stocks are looking cheap. Fund manager explains why he’s betting on Alibaba
Investors may still be nervous about Chinese stocks despite massive declines that have made them compelling, but portfolio manager Sid Choraria assures tech titan Alibaba is no “value trap.” To classify Alibaba as one, investors would have to believe that the e-commerce giant’s growth will be in the single digits, said Choraria of SC Asia. […]
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Indonesians are increasingly wary of Australia, but its new leader wants to change that
Australian Prime Minister Anthony Albanese returns from laying a wreath at Indonesia’s National Heroes Cemetery on June 6, 2022 in Jakarta, Indonesia. Albanese made his first trip to Indonesia promising to strengthen ties during two days of diplomatic and business meetings. Ed Wray | Getty Images Long before Australia’s new Prime Minister Anthony Albanese made […]
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China’s economic numbers come in better than expected, but ‘difficulties and challenges’ remain
New energy vehicles, which include hybrid and battery-powered cars, have seen sales surge in China despite a slump in the overall car market. Pictured here is an unnamed new energy vehicle factory in Jiangsu province on June 13, 2022. Wan Shanchao | Visual China Group | Getty Images BEIJING — China released economic data for […]
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Luxury brands say China’s latest Covid wave has whacked consumer demand
China’s retail sales plunged 11.1% in April from a year ago as Covid controls kept many people at home and malls closed. Pictured here is a luxury store in Shanghai on June 4, 2022, just a few days after the city officially began to reopen. Hugo Hu | Getty Images News | Getty Images BEIJING […]
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Most factories in Shanghai resume work as Covid controls ease, ministry says
German automaker Volkswagen is one of state-owned automaker SAIC’s foreign partners in China. Pictured here on June 7, 2022, is the joint venture’s factory in Shanghai. Qilai Shen | Bloomberg | Getty Images BEIJING — Factories in two of China’s Covid-hit economic hubs have mostly resumed work as the impact of the virus subsides, according […]
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Latest Shanghai quarantines add more pressure to global supply chain
Staff members of China Post unload parcels of daily necessities for residents quarantined at home from a minivan on May 14, 2022 in Shanghai, China. Tian Yuhao | China News Service | Getty Images The mass quarantine measures imposed this past weekend in Shanghai, including highway closures, severely affected trucks carrying exports bound for the […]
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More South Korea businesses hit as trucker strike enters 7th day
Truck drivers and members of the Korean Confederation of Trade Unions shout slogans during a demonstration on Friday, June 10, 2022. South Korean petrochemical firms on Monday joined the automobile and steel makers in cutting operations due to mounting inventories as transport disruptions from a strike by truckers spread quickly across Asia’s manufacturing powerhouse. SeongJoon […]
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