Asia Economy
Shanghai targets lockdown turning point by Wednesday, sources say
Medical workers in protective suits check a child patient as they conduct ward rounds at Shanghai New International Exhibition Hall, which has been turned into a makeshift hospital for the coronavirus disease (COVID-19), in Shanghai, China April 9, 2022. China Daily | Reuters Shanghai has set a target to stop the spread of Covid-19 outside […]
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China’s Covid policy locks down a city three times the size of New York
The Huangpu River splits the Chinese city of Shanghai between the older settlement on the west and the newer, financial center on the east. Johannes Eisele | Afp | Getty Images China’s latest wave of Covid restrictions has forced millions of people — roughly three times as many as live in New York City — […]
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China’s lockdowns are a greater threat to inflation today than in 2020, Bernstein says
China’s automobile and component exports more than doubled in 2021 from a year ago, exceeding 30% growth in China’s exports overall, Bernstein analysts found. Yi Fan | Visual China Group | Getty Images BEIJING — China’s latest Covid lockdowns are a greater risk for global inflation today than they were in 2020, Bernstein analysts said. […]
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European stocks rise as ECB confirms end of bond buying; Ericsson down 5%
The pan-European Stoxx 600 nudged 0.5% higher by mid-afternoon, with travel and leisure stocks gaining 2.5% while telecoms dropped 0.4%. The ECB kept its monetary policy unchanged but confirmed it will end its bond buying in the third quarter. Once the bond buying program is completed, the ECB is expected to begin hiking interest rates, following […]
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India’s central bank pivots focus from growth to fighting inflation as prices rise
Customers browsing through goods at a store on the outskirts of New Delhi, India, in February as prices continue to rise, with inflation figures for March nearing 7%. Anindito Mukherjee/Bloomberg via Getty Images | Bloomberg | Bloomberg | Getty Images Inflation in India is up sharply and signs point to a continuing upward trend, analysts […]
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After buying cheap Russian oil, India is now setting sights on its coal
Even as the world shuns Russian goods, India is setting its sights on Russian coal. India’s coal imports from Russia jumped in March 2022 to highs not seen in more than two years, according to commodity intelligence firm Kpler. Ritesh Shukla | Getty Images News | Getty Images India’s hunger for coal is growing. Even […]
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South Korea’s central bank unexpectedly raises rates as prices surge
Signage at the Bank of Korea headquarters in Seoul, South Korea, on Monday, Nov. 22, 2021. South Korea’s central bank raised its policy rate to the highest since August 2019 on Thursday in an unexpected move. SeongJoon Cho | Bloomberg | Getty Images South Korea’s central bank raised its policy rate to the highest since […]
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Singapore tightens monetary policy to rein in inflation as growth slows in the first quarter
Signage for the Monetary Authority of Singapore is displayed outside the central bank’s headquarters in Singapore, on October 22, 2019. Singapore’s central bank tightened its monetary policy on Thursday, saying the widely forecast move will slow the inflation momentum. Ore Huiying | Bloomberg | Getty Images Singapore’s central bank tightened its monetary policy on Thursday, […]
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Turning nickel into EV batteries: Indonesia wants to take its mining industry to the next level
Indonesia is looking to revitalize its resource sector. President Jokowi Widodo has vowed to boost the resource sector’s contribution to national GDP by increasing downstream activities. In this photo taken in October 2021, an excavator is loading up coal onto a dump truck at a coal mine operated by PT Khotai Makmur Insan Abadi in […]
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Kia unveils redesigned Niro EV and updated Telluride SUV
Kia on Wednesday unveiled its new lineup of Niro hybrid and EV crossovers as well as updates to its extremely popular Telluride SUV. Both nameplates are important to the automaker in different ways. The Telluride has been a surprise sales success for the company, while the new Niro models come as consumers are being squeezed […]
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