Asia Economy
Want to understand Turkey’s brutal inflation? Look at the price of plums
Shoppers stroll the aisles of a bazaar in Konya, Turkey. The country is experiencing brutal inflation, with food and non-alcoholic beverage prices rising 70.3% year over year for March. Diego Cupolo | Nurphoto | Getty Images For Turks, the humble green plum (“erik” in Turkish) represents the start of spring. An intensely sour fruit, it’s […]
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China’s lockdowns could trigger a logistics snarl that may ‘dwarf’ 2020 and 2021
A traffic police officer prepares to check a truck at a service station of G1503 Shanghai Ring Expressway on April 11, 2022 in Shanghai, China. The major Chinese city has been among the hardest hit as China battles its most severe Covid outbreak since the early days of the pandemic in 2020. Yin Liqin | […]
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European stocks slide 1.2% after undisclosed investor sells stakes in German banks; Deutsche Bank tanks 9.5%
LONDON — European markets sank Tuesday morning as traders monitored heaving selling in the banking sector, and looked ahead to key central bank meetings and U.S. inflation prints. The pan-European Euro Stoxx 600 index was down 1.2% in early deals, with the German DAX dropping 1.8% and the banking sector falling 2.3%. Reports on Monday […]
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Ties with U.S., India may improve under Pakistan’s new government
Pakistan’s parliament picked Shehbaz Sharif as the country’s new prime minister, just days after his predecessor Imran Khan was ousted in a no-confidence vote. Aamir Qureshi | AFP | Getty Images Pakistan has a new prime minister — and this could augur well for the South Asian country’s return to a healthier economy and its […]
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Japan’s wholesale inflation stays near record on Ukraine war and a weak yen
A customer picks up a snack at a supermarket store in Tokyo, Japan, on Tuesday, July 27, 2021. Japan’s wholesale inflation remained near record-high levels in March as the Ukraine crisis and a weak yen pushed up fuel and raw material costs, data showed on Tuesday Noriko Hayashi | Bloomberg | Getty Images Japan’s wholesale […]
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Chinese electric car company Nio hikes prices, suspends production
Nio said it has suspended production due to Covid-related restrictions in the last several weeks that halted production at suppliers’ factories. Long Wei | Visual China Group | Getty Images BEIJING — Chinese electric car company Nio said over the weekend it is raising prices and suspending production as the latest Covid wave added to […]
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China Covid outbreak: Guangzhou closes schools, Shanghai’s new cases soar to a record
All 11 districts of Guangzhou city began another round of mass Covid testing late last week, while elementary and middle schools shifted to online learning as of Monday. Costfoto | Future Publishing | Getty Images BEIJING — Another major Chinese city has tightened Covid restrictions as the country struggles to contain a nationwide outbreak stretching […]
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Another Chinese city has overtaken New York for number of billionaires
Buildings in Shenzhen on Tuesday, March 15, 2022. The former fishing village, now a tech hub known as China’s Silicon Valley, has joined Beijing and Shanghai as the world’s top three cities for billionaires, edging out New York for the first time this year. Bertha Wang | Bloomberg | Getty Images Three years ago, American […]
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Raising a kid is getting expensive in China — buy these global stocks to cash in, Jefferies says
China’s efforts to raise the national birth rate can help some U.S. consumer stocks, Jefferies analysts said in a report. Source
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Social turmoil is Sri Lanka’s biggest risk, ex-World Bank official says of economic crisis
Sri Lanka faces a “dangerous situation” with continuing social unrest and must avoid a “disorderly default,” the former chief economist of the South Asia regions at the World Bank, Shanta Devarajan told CNBC Friday. Shortages of food and fuel, along with record inflation and regular blackouts, have brought thousands of Sri Lankans to the streets as […]
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