Asia Economy
Stopped trucks, foldable beds for workers: What European businesses face with China’s Covid surge
Shanghai, home to the world’s largest container shipping port, began a two-part lockdown on March 28 and has yet to announce when restrictions will lift. Yang Jianzheng | Visual China Group | Getty Images BEIJING — China’s Covid controls have disrupted supply chains and stressed the daily life of workers, primarily in Shanghai and Shenyang, […]
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Samsung Electronics sees Q1 profit topping market expectations on solid chip demand
The exterior of a Samsung store photographed on March 22, 2022 in Munich, Germany. Samsung Electronics reported on Thursday an estimated 50% jump in quarterly operating earnings to post its highest first-quarter profit since 2018. Jeremy Moeller | Getty Images Entertainment | Getty Images Samsung Electronics reported on Thursday an estimated 50% jump in quarterly […]
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European stocks fall amid hawkish Fed comments, new Russia sanctions; Stoxx 600 down 1.6%
LONDON — European markets declined on Wednesday against a backdrop of hawkish comments from U.S. Federal Reserve officials and further sanctions against Russia. The pan-European Stoxx 600 fell 1.6% by early afternoon trade, with autos dropping 3.5% to lead losses as all sectors and major bourses slid into negative territory. Fed Governor Lael Brainard said […]
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Global government debt set to soar to record $71 trillion this year, new research says
People wearing protective face masks wait at a bus stop with a display of the current national debt amid the coronavirus disease (COVID-19) pandemic in Washington, January 31, 2022. Sarah Silbiger | Reuters LONDON — Global sovereign debt is expected to climb by 9.5% to a record $71.6 trillion in 2022, according to a new […]
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China’s long weekend tourism spend plunges to 39.2% of pre-pandemic levels
Shanghai and other parts of China remained in lockdown or subject to travel restrictions during a long holiday weekend in early April, sending an official count of tourism revenue plunging to just over a third of what it was prior to the pandemic. Hector Retamal | Afp | Getty Images BEIJING — As mainland China […]
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Here are the 3 top trends for Asia’s start-up scene in 2022, according to Microsoft
For entrepreneurs in Asia, the future seems brighter than ever. More so than elsewhere in the world, Asia “leapfrogged other forms of connectivity” to become so-called “mobile-first,” said Jesus Martin, chief strategy at Microsoft Asia. “And because Asia went mobile-first, mobile became the platform that underpinned innovations and new business models.” Mobile first refers to the strategy […]
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Japan’s central bank will be ‘alarmed’ if yen crosses 130 per dollar, says ex-vice minister
The Bank of Japan will be “alarmed” if the yen weakens beyond 130 per dollar, according to Japan’s former vice minister of finance for international affairs, Eisuke Sakakibara. The yen was trading at 123.77 per U.S. dollar on Wednesday morning Asia. The Japanese currency fell more than 5% against the greenback in March, despite the […]
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Sri Lanka parliament to meet as protests put ruling Rajapaksas under pressure
Protestors take part in a demonstration at the entrance of the president’s office in Colombo on April 4, 2022. Sri Lanka’s opposition on April 4, 2022 rejected the president’s invitation to form a unity government as “absurd,” calling instead for his resignation because of worsening food, fuel and medicine shortages in the country. Ishara S. […]
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JPMorgan says 3 stocks could be winners if U.S.-listed Chinese stocks avert delisting
JPMorgan’s equity macro research team has new confidence that U.S.-listed Chinese stocks like are poised to gain. Source
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Here are 3 hottest markets in Southeast Asia for 2022, according to Wall Street
Indonesia’s stocks are among the top picks of JPMorgan Asset Management and Goldman Sachs for 2022. In this photo from April 2019, the statue of a bull is standing at the lobby of the Indonesia Stock Exchange (IDX) in Jakarta, Indonesia. Dimas Ardian | Bloomberg via Getty Images Geopolitical tensions around the world have been […]
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