Asia Economy
China’s spiking Covid cases, Ukraine war cloud growth in Asia, says IMF
Rising Covid cases in China and the war in Ukraine pose headwinds for Asia’s growth, the International Monetary Fund told CNBC on Wednesday. “Asia is clearly facing headwinds, both from the war in Ukraine but also from the lingering effects of Covid now being much more pronounced in China than before,” said Anne-Marie Gulde-Wolf, the […]
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China’s economy may be ‘struggling’ — but it’s ‘not in serious trouble,’ says economist
The Chinese economy is “struggling” for now — but it’s “not in serious trouble,” according to Derek Scissors chief economist at research firm China Beige Book. “We’re not looking at outright contraction as China suffered in 2020,” Scissors told CNBC’s “Squawk Box Asia” on Tuesday. He was referring to how the Chinese economy saw a […]
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Sri Lanka opposition chief says he’s ‘cautiously optimistic’ about vote to oust government
Opposition parties in crisis-wracked Sri Lanka are “cautiously optimistic” about winning enough votes to oust the government appointed of President Gotabaya Rajapaksa, the Leader of the Opposition, Sajith Premadasa, told CNBC. “I’m cautiously optimistic that we will obtain the numbers. It all depends on our power to persuade,” said Premadasa, who heads the Samagi Jana […]
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Myanmar’s military government denies rumors of fuel shortages
Myanmar’s Ministry of Electricity and Energy denied that there was a fuel shortage, saying unfounded rumors and inadequate infrastructure for retail sales were to blame. Nurphoto | Nurphoto | Getty Images Myanmar’s military government has denied the country is suffering from a shortage of fuel after rumors about low supplies of gasoline and diesel led […]
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IMF says any loan to Sri Lanka requires debt sustainability
A woman walks past the International Monetary Fund headquarters building in Washington, DC on March 11, 2022. The IMF said discussions with Sri Lanka on a potential IMF loan program are at an early stage and any deal would require “adequate assurances” that the island country’s debts can be put on a sustainable path. Mandel […]
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Here are the new 2022 growth forecasts for 21 countries
The IMF cut its global growth forecast for 2022 because of the Ukraine war, but some countries are affected worse than others. VCG | Visual China Group | Getty Images IMF 2022 growth projections Country 2022 real GDP forecast India 8.2% Saudi Arabia 7.6% Spain 4.8% China 4.4% Australia 4.2% UAE 4.2% Singapore 4.0% Canada […]
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Container shipping could rebound by late April as Covid eases in China, shipping investment firm exec says
The container shipping industry could see a “very strong” pickup starting late April as the Covid situation in China eases, Tim Huxley, founder of Mandarin Shipping, told CNBC’s “Street Signs Asia” on Monday. Shanghai has been on lockdown since last month because of a rise in Covid-19 cases. The city, also home to the world’s […]
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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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