Asia Economy
Here’s what the world’s first floating city in Busan, South Korea, could look like
Artist rendering courtesy Oceanix, BIG-Bjarke Ingels Group. The United Nations, a floating city architecture firm called Oceanix, and the South Korean city of Busan on Tuesday unveiled the prototype for a floating, sustainable version of the key shipping hub. Floating cities could be a way to mitigate the effects of sea level rise caused by […]
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HSBC’s first-quarter profit slides as Ukraine conflict, inflation bite
Pedestrians walk past a HSBC Bank branch in Hong Kong. HSBC reported a 27% fall in quarterly profit on Tuesday, as the Asia-focused bank suffered from decreased revenues and slowing growth in Hong Kong. Budrul Chukrut/SOPA Images | Lightrocket | Getty Images HSBC reported a 27% fall in quarterly profit on Tuesday, as the Asia-focused […]
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Chinese start-up Nreal is launching its augmented reality glasses in the UK this spring
Attendees look at NReal’s augmented reality glasses, on the last day of CES 2019 in Las Vegas, Nevada. Robyn Beck | AFP | Getty Images Nreal, a Chinese augmented reality start-up, is planning to bring its smart glasses to the U.K. The Beijing-based company said Tuesday it will launch its Nreal Air AR glasses in […]
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China’s capital city warns of more Covid cases and begins mass testing in the central business district
China’s capital city of Beijing reported a spike in Covid cases over the weekend and began mass testing Monday in the business district of Chaoyang. Within the district, one community that’s pictured here became classified as a high-risk area. Jiang Qiming | China News Service | Getty Images BEIJING — China’s capital of Beijing warned […]
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UBS expects these Chinese stocks to soar by over 30%, despite China’s Covid controls
Based on China’s latest Covid control measures and rising inflation, UBS analysts have shaken up their list of top stocks for investing in the country. Source
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Singapore is moving closer toward pre-pandemic living
Singapore is set to ease most Covid measures from April 26, authorities said. Lauryn Ishak | Bloomberg | Getty Images SINGAPORE — Singapore is set to remove nearly all virus safety measures from Tuesday as the city-state seeks to return to pre-Covid living, authorities announced on Friday. There will be no more social distancing or […]
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Industrial output in Shanghai dropped 7.5% in March, city official says
A worker works at a production line in Qingpu district of east China’s Shanghai 211027. Industrial output in the city dropped by 7.5% year-on-year after stringent lockdown measures halted production in some factories, the city’s official said on Friday. Ding Ting | Xinhua News Agency | Getty Images Industrial output in Shanghai, China’s financial hub, […]
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Japan says exiting Sakhalin energy projects would weaken Russia sanctions
A liquefied natural gas tanker berth in Japan, on Dec. 17, 2021. Should Japan ever exit the Sakhalin energy projects in Russia and their stakes were acquired by Russia or a third country, this would weaken the effectiveness of Western sanctions and benefit Russia, Japan’s industry minister said on Friday. Kiyoshi Ota | Bloomberg | […]
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South Korea’s new central bank governor flags weaker growth
South Korea’s new central bank governor Rhee Chang-yong said the Ukraine crisis, U.S. monetary tightening, and Covid-19 resurgence in China as near-term factors weighing on economic growth amid persistently high inflation. Bloomberg | Bloomberg | Getty Images South Korea’s new central bank governor Rhee Chang-yong said on Thursday that economic growth is expected to weaken […]
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As the U.S. 10-year Treasury yield keeps climbing, here’s what it means for China
BEIJING — The U.S. 10-year Treasury yield has risen rapidly to three-year highs, erasing its gap with its Chinese counterpart, something that hasn’t happened for more than a decade. As the yields cross paths – the U.S. one rising above China’s – that theoretically reverses an investment strategy that bought Chinese bonds for the greater return they offered […]
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