Asia Economy
Myanmar’s military government denies rumors of fuel shortages
Myanmar’s Ministry of Electricity and Energy denied that there was a fuel shortage, saying unfounded rumors and inadequate infrastructure for retail sales were to blame. Nurphoto | Nurphoto | Getty Images Myanmar’s military government has denied the country is suffering from a shortage of fuel after rumors about low supplies of gasoline and diesel led […]
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IMF says any loan to Sri Lanka requires debt sustainability
A woman walks past the International Monetary Fund headquarters building in Washington, DC on March 11, 2022. The IMF said discussions with Sri Lanka on a potential IMF loan program are at an early stage and any deal would require “adequate assurances” that the island country’s debts can be put on a sustainable path. Mandel […]
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Here are the new 2022 growth forecasts for 21 countries
The IMF cut its global growth forecast for 2022 because of the Ukraine war, but some countries are affected worse than others. VCG | Visual China Group | Getty Images IMF 2022 growth projections Country 2022 real GDP forecast India 8.2% Saudi Arabia 7.6% Spain 4.8% China 4.4% Australia 4.2% UAE 4.2% Singapore 4.0% Canada […]
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Container shipping could rebound by late April as Covid eases in China, shipping investment firm exec says
The container shipping industry could see a “very strong” pickup starting late April as the Covid situation in China eases, Tim Huxley, founder of Mandarin Shipping, told CNBC’s “Street Signs Asia” on Monday. Shanghai has been on lockdown since last month because of a rise in Covid-19 cases. The city, also home to the world’s […]
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One dead after police fire on protesters in Sri Lanka amid bailout talks with IMF
Mounting frustration over inflation, scarcity and lengthy power cuts brought demonstrators in the Sri Lankan capital Colombo on Monday. Angry protestors called for the resignation of President Gotabaya Rajapaksa and his brother, Prime Minister Mahinda Rajapaksa. Buddhika Weerasinghe | Bloomberg | Getty Images Sri Lankan police fired live ammunition to scatter protesters on Tuesday, killing […]
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Soaring inflation is hitting retirement savings hard. Here’s how best to manage yours
Brianajackson | Istock | Getty Images As inflation soars to record highs, retirement savings are feeling the pinch, making it even more important to make sure yours is working for you. U.S. inflation rose 8.5% annually in March to hit a fresh 40-year high as the war in Ukraine pushed up energy costs, the latest […]
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Australia’s central bank is closer to raising rates as inflation rises, minutes show
The Reserve Bank of Australia building in Sydney, Australia, on Monday, Sept. 6, 2021. Australia’s central bank is nearer to raising interest rates for the first time in more than a decade as inflation accelerates and labor market tightens, minutes of its April policy meeting showed on Tuesday. David Gray | Bloomberg | Getty Images […]
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Investors turn cautious on Chinese stocks amid growth concerns
While mainland Chinese stock fund held onto inflows, European stock funds saw billions of dollars in net outflows in the first quarter, with declines in Japanese stock funds as well, according to EPFR. Marc Fernandes | Nurphoto | Getty Images BEIJING — Investors turned increasingly cautious on Chinese stocks, especially those listed overseas, in the […]
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China’s property sector could be turning around, but red-hot growth may be a thing of the past
Investor confidence in China’s real estate market appear to be boosted by the government’s promise to support the sector and some loosening of policies. But analysts say China’s high-growth property market may be a thing of the past. Getty Images | Getty Images News | Getty Images The tide may be turning on China’s battered […]
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Sri Lankan opposition to table no-confidence vote against government
Sri Lanka’s opposition is set to stage a no-confidence vote against the government, opposition lawmaker Harsha de Silva told CNBC on Monday. “We are confident we have the numbers and we will bring the motion at the appropriate time,” said de Silva, a parliamentary member from the opposition Samagi Jana Balawegaya party. His comments came […]
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