Asia Economy
Japan’s wholesale inflation stays near record on Ukraine war and a weak yen
A customer picks up a snack at a supermarket store in Tokyo, Japan, on Tuesday, July 27, 2021. Japan’s wholesale inflation remained near record-high levels in March as the Ukraine crisis and a weak yen pushed up fuel and raw material costs, data showed on Tuesday Noriko Hayashi | Bloomberg | Getty Images Japan’s wholesale […]
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Chinese electric car company Nio hikes prices, suspends production
Nio said it has suspended production due to Covid-related restrictions in the last several weeks that halted production at suppliers’ factories. Long Wei | Visual China Group | Getty Images BEIJING — Chinese electric car company Nio said over the weekend it is raising prices and suspending production as the latest Covid wave added to […]
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China Covid outbreak: Guangzhou closes schools, Shanghai’s new cases soar to a record
All 11 districts of Guangzhou city began another round of mass Covid testing late last week, while elementary and middle schools shifted to online learning as of Monday. Costfoto | Future Publishing | Getty Images BEIJING — Another major Chinese city has tightened Covid restrictions as the country struggles to contain a nationwide outbreak stretching […]
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Another Chinese city has overtaken New York for number of billionaires
Buildings in Shenzhen on Tuesday, March 15, 2022. The former fishing village, now a tech hub known as China’s Silicon Valley, has joined Beijing and Shanghai as the world’s top three cities for billionaires, edging out New York for the first time this year. Bertha Wang | Bloomberg | Getty Images Three years ago, American […]
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Raising a kid is getting expensive in China — buy these global stocks to cash in, Jefferies says
China’s efforts to raise the national birth rate can help some U.S. consumer stocks, Jefferies analysts said in a report. Source
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Social turmoil is Sri Lanka’s biggest risk, ex-World Bank official says of economic crisis
Sri Lanka faces a “dangerous situation” with continuing social unrest and must avoid a “disorderly default,” the former chief economist of the South Asia regions at the World Bank, Shanta Devarajan told CNBC Friday. Shortages of food and fuel, along with record inflation and regular blackouts, have brought thousands of Sri Lankans to the streets as […]
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India’s central bank keeps rates steady as growth risks re-emerge
Reserve Bank Of India sign can be seen in Kolkata, India, 08 February, 2022. Indranil Aditya | Nurphoto | Getty Images The Reserve Bank of India’s monetary policy committee kept the bank’s key lending rate at a record low on Friday, as expected, as it sought to support economic growth even as inflation edged higher […]
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New study lists Asian countries that will be hit hardest — and least — by the Ukraine war
Global prices for some grains have spiked since the Russia-Ukraine war started, with both countries contributing a significant percentage of the world’s supply for some of those commodities such as wheat. Vincent Mundy | Bloomberg | Getty Images From food prices to tourism and weapons supply, Asia-Pacific countries could be hit hard by the Russia-Ukraine […]
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Asia faces growing threats from climate change. Here’s what can be done
A boy searches for remaining food in polythene packets at roadside in Allahabad, India, on May 11, 2018. In 2021, over 57 million people were affected by climate disasters in Asia, the International Federation of Red Cross and Red Crescent Societies reported. Sanjay Kanojia | Afp | Getty Images Asia, one of the regions most […]
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Stopped trucks, foldable beds for workers: What European businesses face with China’s Covid surge
Shanghai, home to the world’s largest container shipping port, began a two-part lockdown on March 28 and has yet to announce when restrictions will lift. Yang Jianzheng | Visual China Group | Getty Images BEIJING — China’s Covid controls have disrupted supply chains and stressed the daily life of workers, primarily in Shanghai and Shenyang, […]
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