Asia Economy
Scientists are hoping to grow coral reefs at the base of wind turbines in Taiwan
Alongside their natural beauty, coral reefs have an important role to play in the natural world. According to the National Oceanic and Atmospheric Administration, around one quarter of the ocean’s fish rely on healthy coral reefs. Reinhard Dirscherl | Ullstein Bild | Getty Images Danish energy firm Orsted is to trial growing corals on the […]
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China’s Covid lockdowns are hitting more than just Shanghai and Beijing
Nationwide, about 327.9 million people in more than 40 cities are affected by the latest lockdowns, Nomura’s Chief China Economist Ting Lu estimated Wednesday. Pictured here from February is a closed shopping mall in Suzhou with red banners proclaiming the need to fight the virus. Sopa Images | Lightrocket | Getty Images BEIJING — While […]
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India’s high inflation will likely persist despite surprise rate hike, says economist
220413 The trend of rising inflation is expected to continue, increasing the burden on consumers in India, seen here shopping in New Delhi in April. Xinhua News Agency | Xinhua News Agency | Getty Images Inflation in India will likely continue to trend above 6% for the rest of this year despite this week’s surprise […]
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India raises rates at surprise monetary policy meeting, bond yields jump
A youth walks past the entrance of the Reserve Bank of India head office in Mumbai on Nov. 17, 2021. India’s central bank raised its main lending rate off record lows in a surprise move on Wednesday to contain rising inflation, shocking markets and pushing the benchmark 10-year bond yield to its highest levels in […]
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From Estee Lauder to Apple, big companies say China’s Covid restrictions are hitting business
Factories in China affected by Covid lockdowns can conditionally resume work, by housing workers on-site. Pictured here is an auto parts manufacturer in Suzhou that has had 478 employees on site since April 16. CFOTO | Future Publishing | Getty Images BEIJING — Several international corporations warned in the last week the drag from China’s […]
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Bank of America picks Asia-Pacific stocks to sell partly because of high revenue exposure to China
Bank of America’s Asia stocks team has not recommended buying China stocks since November 2020. Source
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India’s largest-ever IPO will test foreign investor appetite
The LIC logo looms above a couple of passersby in Mumbai in India last week. The IPO of the biggest payer in life insurance in the country is expected to fetch $2.7 billion in the country’s biggest IPO so far. Punit Paranjpe | Afp | Getty Images The dominant player in India’s life insurance market, […]
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Shanghai authorities stepped up to help Tesla reopen factory, letter shows
A truck leaves the Tesla Shanghai Gigafactory on April 25, 2021 in Shanghai, China. Visual China Group | Getty Images Shanghai authorities helped Tesla transport more than 6,000 workers and carry out necessary disinfection work to reopen its factory last month amid the city’s lockdown, according to a letter that Tesla sent to local officials […]
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Beijing city closes gyms and bans dining in as Covid controls tighten
As part of the latest Covid controls, China’s capital city of Beijing banned in-store dining as a five-day holiday kicked off, prompting restaurants to sell food outside. Kevin Frayer | Getty Images News | Getty Images BEIJING — Two months since China’s latest Covid outbreak began, many businesses in the country’s two largest cities by […]
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Australia hikes its interest rate for the first time in more than a decade
Australia’s consumer price index jumped 2.1% for the first quarter in 2022, with prices of food, petrol and other consumer goods all surging. Ian Waldie | Bloomberg | Getty Images Australia hiked its interest rate for the first time in more than a decade, a widely expected move as consumer prices surge. Its central bank […]
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