Asia Economy
The Bank of Japan may have limited tools to deal with the weak yen, but that’s not its focus
The Bank of Japan may be limited in its ability to deal with recent weakness in the yen, but experts who spoke with CNBC noted the currency is not really the central bank’s main focus anyway. The Japanese yen went above 130 against the dollar on Thursday after the BOJ reiterated its ultra-easy monetary policy […]
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South Korea to lift outdoor mask mandate starting next week
People wearing face masks walk through a railway station in Seoul on Feb. 18, 2022. Prime Minister Kim Boo-kyum announced on Friday South Korea will lift an outdoor face mask mandate starting next week. Jung Yeon-je | Afp | Getty Images South Korea said on Friday it will lift an outdoor face mask mandate next […]
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Singapore start-up Nium seeks up to $400 million in deals to take on Europe’s crowded fintech market
Europe’s fintech sector is fiercely competitive, with privately-held start-ups worth tens of billions of dollars vying to steal market share from incumbent banks. Oscar Wong | Moment | Getty Images LONDON — Nium, a $2 billion digital payments start-up based out of Singapore, has big plans for its European business. The company, whose software helps […]
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Americans view these Asian countries as safer now than before the pandemic
A new study shows American travelers view many Asian nations as safer travel destinations now than they did four years ago. South Korea, Singapore, Thailand, Japan, China and Vietnam rose in the annual safety rankings published by travel insurance provider Berkshire Hathaway Travel Protection. The survey in the 2022 “State of Travel Insurance Report” also […]
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Standard Chartered reports better-than-expected profit, flags bullish outlook on rising rates
Pedestrians pass the headquarters of Standard Chartered in London on Feb. 14, 2022. Standard Chartered’s first-quarter pre-tax profit rose 6%, beating market expectations, as the emerging markets-focused lender benefited from rising interest rates and flagged a robust outlook. Chris Ratcliffe | Bloomberg | Getty Images Standard Chartered posted a forecast-beating 6% rise in first-quarter profit, […]
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Hong Kong residents are flocking to Singapore, snapping up rental homes
Stifled by strict Covid restrictions in Hong Kong, residents from the financial hub are continuing to move to its rival, Singapore. Roslan Rahman | AFP | Getty Images SINGAPORE — After eight years in Hong Kong, Jonathan Benarr is giving up that city for a new set of attractions — in Singapore. “Hong Kong was […]
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China’s Xi announces another infrastructure push to boost growth as Covid drags on
China had 37,900 kilometers (23,550 miles) of operational high-speed rail as of the end of 2020, which the country claims accounts for more than two-thirds of the world’s total. Zhang Bin | China News Service | Getty Images BEIJING — As Covid controls drag down growth, China plans to boost its economy with more infrastructure […]
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China’s central bank steps in to slow its rapidly weakening currency, as yuan hits one-year lows
The Chinese yuan has weakened sharply against the U.S. dollar in the last several weeks as the greenback strengthens and investors worry about China’s economic growth. Fotoholica Press | Lightrocket | Getty Images BEIJING — The Chinese yuan strengthened slightly against the U.S. dollar on Wednesday, reversing a sharp weakening trend after the People’s Bank […]
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Heat wave in India threatens residents and crucial wheat harvest
Farmers harvest wheat crop on April 14, 2022 in India. The country has just endured its hottest March since records began, according to the India Meteorological Department, and the heat wave is dragging well into harvest time. Vipin Kumar | Hindustan Times | Getty Images A record-breaking heat wave in India exposing hundreds of millions […]
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At least a dozen U.S. universities reinstate mask mandates as Covid cases rise
Masked to protect against the coronavirus disease (COVID-19), senior Lauren Pyjar takes advantage of the warm sunshine to study outdoors at Georgetown University in Washington, March 9, 2021. Kevin Lamarque | Reuters At least a dozen colleges and universities across the U.S. restored their indoor mask mandates this month after Covid cases rose on their […]
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