Asia Economy
Hong Kong central bank steps in to support weakening currency, in first intervention since Oct. 2020
People wearing face masks walk by the Hong Kong Monetary Authority on March 4, 2020 in Hong Kong. The Hong Kong Monetary Authority bought HK$1.586 billion ($202 million) from the market on Thursday to stop the local currency weakening and breaking its peg to the U.S. dollar, the de-facto central bank’s first intervention in 18 […]
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China may chalk up more debt as lockdowns hit the economy
Covid lockdowns have hit China’s economy, and the Asian giant might have to issue more debt to continue meeting its growth target. Kevin Frayer | Getty Images News | Getty Images China may have to issue more debt as it tries to keep growing in the face of Covid lockdowns that are stunting its economy. […]
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North Korea officially reports first Covid-19 outbreak
North Korea officially confirmed its first Covid-19 outbreak on Thursday, with state media reporting a sub-variant of the highly transmissible omicron virus, known as BA.2, had been detected in Pyongyang. Kim Won Jin | Afp | Getty Images North Korea officially confirmed its first Covid-19 outbreak on Thursday, with state media reporting a sub-variant of […]
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Shanghai’s big automakers saw production plunge by 75% in April after lockdowns began
Although Shanghai began in mid-April to prioritize several hundred companies for resuming work, foreign business organizations have said that doesn’t mean the factories can operate at full capacity. Tian Yuhao | China News Service | Getty Images BEIJING — Auto production plunged in April as Covid lockdowns halted nearly all non-essential business in the metropolis of […]
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China’s consumer prices hit a six-month high as Covid prompts locals to stock up on food
Fresh vegetable prices rose by 24% year-on-year in April as consumers stocked up to prepare for potential stay-home orders. Pictured here is a delivery driver for Alibaba’s Hema Fresh supermarket in Beijing on May 10, 2022. Jade Gao | Afp | Getty Images BEIJING — China’s consumer and producer prices rose more than expected in […]
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Japan is set to open its doors in June, but some locals aren’t happy about it
As countries across Asia reopen to international travelers, Japan — one of the continent’s most popular destinations — remains firmly closed. That may soon change. Prime Minister Fumio Kishida announced Thursday at a news conference in London that Japan will ease border controls in June. Locals often celebrate the easing of pandemic-related border restrictions, but some […]
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New Zealand to open international borders fully to visitors from end-July
A view of the Auckland International Airport’s arrivals area on April 13, 2022. New Zealand Prime Minister Jacinda Ardern said on Wednesday the country will fully reopen its international borders from 11:59 p.m. on July 31, with cruise ships also welcome back to local ports on the same day. Fiona Goodall | Getty Images News […]
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Sri Lanka protesters call for new government a day after clashes kill eight
The burned buses near Sri Lanka’s former prime minister Mahinda Rajapaksa’s official residence, a day after they were torched by protesters in Colombo on May 10, 2022. Protesters and a key trade group in Sri Lanka called for a new government to take control of the crisis-hit country on Tuesday. Pradeep Dambarage | Nurphoto | […]
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WHO chief says China’s zero-Covid policy is not ‘sustainable’
A worker disinfects the walkway near closed shops after many retail stores were closed to help prevent the spread of Covid-19 on May 10, 2022 in Beijing, China. The head of the World Health Organization said on Tuesday China’s zero-tolerance Covid-19 policy is not sustainable given what is known of the disease. Kevin Frayer | […]
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Biden says White House could drop Trump China tariffs to lower consumer prices
President Joe Biden said he could drop some of the tariffs imposed against Chinese imports to help control rising consumer prices in the U.S. — just as Wall Street braces for another inflation report north of 8%. The White House is reviewing the penalties imposed under former President Donald Trump — which raised prices on […]
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