Asia Economy
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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Shanghai reports first Covid deaths since the start of its latest lockdowns
Shanghai, China’s largest city and the one hit hardest by the latest Covid outbreak, announced another round of mass virus testing that’s set to end Thursday, April 21. Str | Afp | Getty Images BEIJING — Shanghai city reported Monday its first Covid-related deaths since the latest wave of lockdowns began in earnest in late […]
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Why China shows no sign of backing away from its ‘zero-Covid’ strategy
While the rest of the world battled wave after wave of coronavirus, China’s strict zero-Covid policy kept case numbers down and national pride up. So how long can China maintain its strict Covid policies? And what matters most to Beijing? Thanks to its zero tolerance for Covid-19 cases, China was the only major economy to […]
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Sri Lanka’s reluctance to tap IMF helped push it into an economic abyss
Protesters in Colombo on Easter, April 17, 2022. The Rajapaksa government has leaned heavily on its foreign exchange reserves, eroding them by more than 70% in two years. Jewel Samad | AFP | Getty Images Sri Lanka’s worst economic crisis has triggered an unprecedented wave of spontaneous protests as the island nation of 22 million […]
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Bank of Japan’s Kuroda warns recent yen moves ‘quite sharp,’ may hurt businesses
Haruhiko Kuroda, governor of the Bank of Japan, gestures while speaking during a news conference at the central bank’s headquarters in Japan, on March 18, 2022. He said on Monday the yen’s recent moves have been “quite sharp” and could hurt companies’ business plans. Kiyoshi Ota | Bloomberg | Getty Images Bank of Japan Governor […]
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