Asia Economy
Thailand makes marijuana legal, but smoking is discouraged
Thailand’s government has warned that those eager to light up for fun that smoking in public could still be considered a nuisance, subject to a potential 3-month jail sentence and 25,000 baht ($780) fine. Sopa Images | Lightrocket | Getty Images Thailand made it legal to cultivate and possess marijuana as of Thursday, like a […]
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India will need to make a ‘growth sacrifice’ to slow inflation, says JPMorgan
India will need to make a “growth sacrifice” to contain inflation, a JPMorgan economist told CNBC on Thursday. On Wednesday, the Reserve Bank of India raised the repo rate, or the rate at which banks borrow from the central bank, by a sizable 50 basis points to 4.9 %. The move continues the RBI’s reversal […]
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Russia doesn’t have extra oil for new deals with two Indian buyers: Reuters, citing sources
An illuminated logo sits on display above the Rosneft Oil Co. pavilion on June 5, 2019. Russia’s Rosneft is holding back on signing new crude oil deals with two Indian state refiners, three sources with knowledge of the matter said, as it has committed sales to other customers. Andrey Rudakov | Bloomberg | Getty Images […]
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Here’s how much Apple’s supply chain depends on Shanghai
Apple opened its 54th flagship store in Greater China in the city of Wuhan in May. The iPhone company warned in late April that supply chain disruptions from China’s Covid controls would likely hurt sales in the current quarter by $4 billion to $8 billion. Sopa Images | Lightrocket | Getty Images BEIJING — Apple’s […]
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Buffett disciple Mohnish Pabrai names his 2 favorite investing books right now
Looking to invest in stocks with long-term value? Veteran investor Mohnish Pabrai has two books to recommend. Speaking to CNBC Pro Talks, Pabrai — a value investor and disciple of billionaire Warren Buffett — said that “100 to 1 in the Stock Market” is an “extremely well-written” book. Authored by Thomas Phelps and originally published 50 […]
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Biden envoy to visit Marshall Islands as U.S. concerns grow about China’s Pacific push
U.S. President Joe Biden and New Zealand’s Prime Minister Jacinda Ardern aired shared concerns last week about China’s bid to expand its influence in the Pacific. Bloomberg | Bloomberg | Getty Images President Joe Biden’s special envoy for talks with three tiny, but strategically important Pacific island nations will lead a delegation to the Marshall […]
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Japan is about to welcome back foreign travelers, but domestic tourism remains its priority
After more than two years of closed border policies, Japan is set to welcome back international travelers this week. Come June 10, foreign tourists traveling via packaged tours can enter Japan. However, the government’s priority still lies in boosting domestic tourism numbers, said Tadashi Shimura, president of Japan Association of Travel Agents. Even before the […]
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World Bank slashes global growth forecast to 2.9%, warns of 1970s-style stagflation
Global growth is expected to slip to 2.9% in 2022 from 5.7% in 2021 — 1.2 percentage points lower than previously predicted, according to the World Bank. Bloomberg | Getty Images The World Bank on Tuesday slashed its global growth forecast and warned that many countries could fall into recession as the economy slips into […]
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Australia’s central bank raises rates by 50 basis points in hawkish surprise
People walk past the Reserve Bank of Australia building in Sydney. On May 3, 2022, Australia’s central bank raised interest rates for the first time in more than a decade to curb soaring consumer prices. Saeed Khan | AFP | Getty Images Australia’s central bank on Tuesday raised interest rates by the most in 22 […]
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Cheap valuations, strong growth: Fund manager says it’s time to buy Vietnam stocks
This photo from Oct. 2021 shows motorcyclists waiting at a Covid-19 border checkpoint between Ho Chi Minh City and Long An province, in Ho Chi Minh City, Vietnam. The country’s benchmark VN index has fallen around 14% year-to-date as of Monday’s close. Maika Elan | Bloomberg | Getty Images Vietnam’s stock index has fallen more […]
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