Asia Economy
This Chinese province set a 9% GDP target — but then it locked down
Sanya, on the southern coast of Hainan, was the top destination for couples flying from three of China’s largest cities last week for China’s version of Valentine’s Day, according to booking site Trip.com. Lucas Schifres | Getty Images News | Getty Images BEIJING — China’s tourist-heavy province of Hainan is falling further behind lofty growth […]
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Here’s where China’s real estate troubles could spill over
China’s real estate industry accounts for more than a quarter of national GDP, according to Moody’s. Pictured here is a residential complex under construction on Dec. 15, 2021, in Guizhou province. Costfoto | Future Publishing | Getty Images BEIJING — China’s real estate troubles could spill into other major sectors if the problems persist — […]
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How do people in Asia-Pacific feel about travel right now? It depends on where they live
For the most part, residents of Asia-Pacific can travel again. But some are more confident about packing their bags than others. Travel confidence is “diverse and nuanced” in the region, according to a new survey commissioned by the travel website Booking.com. Some 11,000 people in the region were polled about their comfort levels and concerns, […]
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Apple supplier Foxconn cautious on outlook as smartphone sales slow
Apple Inc supplier Foxconn reported that it beat its April-June net profit expectations. Photo by Lam Yik Fei/Bloomberg via Getty Images Apple Inc supplier Foxconn gave a cautious outlook for the current quarter after posting results that exceeded expectations, citing slowing smartphone demand after a pandemic-fuelled boom. The comments from the Taiwanese company, the world’s […]
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Nearly half of Singaporeans want to travel to one place – and it’s not Malaysia
Some 49% of Singaporeans say they are considering Japan for their next vacation abroad, according to the market research firm YouGov. Interest may be even higher among young citizens. Some 68% of Singaporeans aged 16 to 24 years old indicated they are considering Japan for their “next vacation,” compared to 37% of those aged 55 […]
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Hong Kong cuts hotel quarantine for travelers to 3 days, plus 4 days of home medical surveillance
Hong Kong is reducing the amount of time travelers will need to serve hotel quarantine, from seven days down to three starting Friday. “The seven-day quarantine hotel arrangement will be changed to three days in a quarantine hotel, plus four days of home medical surveillance,” Chief Executive John Lee said at a press conference Monday. […]
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Taiwan’s trade with China is far bigger than its trade with the U.S.
Container trucks line up to enter the Port of Keelung in Keelung, Taiwan. Data show that Taiwan depends more on China for trade than it does on the U.S. Billy H.C. Kwok | Bloomberg | Getty Images BEIJING — Data show that Taiwan depends more on China for trade than it does on the U.S., […]
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UAE hospital group Burjeel posts record full-year revenues ahead of a potential IPO
Talk of a potential listing for Burjeel Holdings comes as the Emirates benefits from a Middle East IPO boom, with Abu Dhabi and Dubai taking several government entities public this year. Bloomberg | Bloomberg | Getty Images DUBAI, United Arab Emirates — Indian billionaire Shamsheer Vayalil is accelerating plans to take Burjeel Holdings public after […]
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Southeast Asia’s largest bank says wealth management, capital markets business face challenges
DBS Group CEO Piyush Gupta said the bank’s wealth management and capital markets businesses continue to see “headwinds,” despite the bank reporting robust second-quarter earnings. “Business momentum is a bit mixed. Our corporate lending activities are actually doing quite well. And so the balance sheets continue to grow,” Gupta told CNBC’s “Capital Connection” following the […]
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India’s currency is under pressure — and analysts say the rupee could test new lows
Two thousand rupee notes on display with an Indian flag in the background. Manish Rajput | SOPA Images | LightRocket via Getty Images The Indian rupee has come under intense selling pressure due to a perfect storm of global headwinds which analysts say will continue to pummel the currency in the months ahead. In recent […]
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