South-East Asia
Sri Lanka’s economy shrinks 3.1% in Q2
Sri Lanka’s economy shrank 3.1 percent in the April-June quarter, official data showed on Friday, as the country struggles to claw out of its worst financial crisis in decades.
‘China to widen market access for service industry’
Chinese President Xi Jinping said on Saturday that China would widen market access in the service industry and promote cross-border services trade.
Pakistan’s economic woes leave textile industry in tatters
Factory worker Lubna Babar was made redundant at the beginning of the year, a victim of a crisis in the Pakistan textile industry that has seen it lose ground to more nimble Asian competitors.
China’s economic losses from disasters surge
China’s direct economic losses from natural disasters surged to 41.18 billion yuan ($5.74 billion) in July, more than in January to June combined, driven by severe weather as two powerful typhoons hit the country in one month.
‘Polls irregularities’ / US to slap Cambodia with visa restrictions, aid cuts
The US said it is taking steps to impose visa restrictions on individuals and aid cuts in response to Cambodia's national election, which Prime Minister Hun Sen's ruling party won in a landslide after his most credible rivals were disqualified
Inflation eases sharply in Sri Lanka
Sri Lanka’s inflation eased to 12 percent in June, official data showed Saturday, the lowest figures since the island nation careened into an unprecedented economic crisis last year.
India, Myanmar discuss border security issues
India’s Defence Secretary Giridhar Aramane met Myanmar’s senior leadership, including the defence minister, and discussed a number of issues including maintenance of tranquillity in border areas, illegal trans-border movement, drug trafficking, and smuggling
China growth forecast cut on property woes
Goldman Sachs analysts have cut forecasts for China’s economic growth, citing persistently weak confidence and the cloud over the property market as stronger-than-expected headwinds.
Japan sticks to ultra-loose monetary policy
The Bank of Japan said Friday it would maintain its long-standing, ultra-loose monetary policy as it looks to boost economic growth.
US business titans flock to China despite fraying ties
From Elon Musk to Bill Gates and Apple’s Tim Cook, some of the United States’ biggest business titans have headed to Beijing, seemingly defying the barrage of doomsayer narratives around the US-China trade war.
Pakistan gets first Russian crude under discount deal
The first shipment of Russian oil to energy-starved and dollar-strapped Pakistan was due to be unloaded at Karachi port on Monday, Prime Minister Shehbaz Sharif said.
China forex reserves jump to $3.2tr
China’s foreign exchange reserves rose more than expected in April, official data showed on Sunday, as the dollar fell against other major currencies.
UAE, China promise Pakistan $1.3b
Pakistan announced financial support Friday from the United Arab Emirates and China totalling $1.3 billion, giving the ailing economy a shot in the arm as it seeks to meet conditions for the resumption of an International Monetary Fund bailout.
Bitcoin pushes past $30,000
Major cryptocurrency bitcoin breached the key $30,000 level for the first time in 10 months on Tuesday, adding to its steady gains as investors raised bets that the US Federal Reserve will soon end its aggressive monetary tightening campaign.
Singapore adds more billionaires to Forbes’ richest list
Li Xiting, founder and chairman of Shenzhen Mindray Bio-Medical Electronics, a global provider of medical devices based in China, has again topped Forbes’ list of billionaires in Singapore.
Oil posts gains
Oil prices rose on Tuesday after Opec+ plans to cut more production jolted markets the previous day, with investors’ attention shifting to demand trends and the impact of higher prices on the global economy.
Pakistan inflation hits 50-year high
Pakistan’s year-on-year inflation hit 35.37 per cent in March -- the highest in nearly five decades -- as the government scrambled to meet International Monetary Fund (IMF) conditions to unlock a desperately needed bailout.
Sri Lanka showcases trade, tourism, investment opportunities in Dhaka
The High Commission of Sri Lanka in Dhaka together with the Sri Lankan expatriate community and associations organised an evening programme today at the Dhaka Sheraton to showcase trade, investment, and tourism opportunities in Sri Lanka
