Asia Archives - Page 14 of 109

As investors anticipate a crucial policy meeting in China, Asia-Pacific markets close mixed.

12Dec

By Michael SmithNo Comments

Asia, China, Market

As investors anticipate a crucial policy meeting in China, Asia-Pacific markets close mixed.

Asia-Pacific markets were mixed Wednesday, after major Wall Street benchmarks declined ahead of key inflation data that could influence the Federal Reserve’s interest rate decision. China is reportedly kicking off its annual economic work conference on Wednesday to outline its economic policies and growth targets for next year. Hong Kong’s Hang Seng index reversed gains to trade 0.76% lower as of its final hour, while mainland China’s CSI 300 index was 0.17% down and closed at 3,988.83. In South Korea, the blue-chip Kospijumped 1.02% and finished at 2,442.51 and the small-cap Kosdaq rose 2.17% to 675.92, a day after the country’s parliament passed a downsized budget of 673.3 trillion won ($470.60 billion) for 2025 late Tuesday. This is reportedly the first time that a spending...

Tuesday is the start of the fourth economic census.

9Dec

By Brian ThompsonNo Comments

Asia, Market

Tuesday is the start of the fourth economic census.

After a decade, the country’s fourth Economic Census is set to begin on Tuesday and will continue until December 26. The matter was confirmed in a press briefing on Monday, regarding the Economic Census 2024 project. The event was held at the conference room of the Bangladesh Bureau of Statistics (BBS) in Agargaon, Dhaka. Deputy Project Director of the Economic Census Project, Mizanur Rahman, provided an overview of the census during the briefing. According to the briefing, the census will feature 70 questions, and for the first time, data will be collected using the CAPI method via tablets. So far, 12.2 million units have been identified through listing, with detailed information to be collected from these and other sources. This year’s census will, for the first time, ...

As tensions rise, Siliguri’s economy is severely impacted by a decline of Bangladeshi tourists.

5Dec

By Brian ThompsonNo Comments

Asia, Market

As tensions rise, Siliguri’s economy is severely impacted by a decline of Bangladeshi tourists.

Siliguri, a key gateway to Northeast India, is facing significant economic setbacks due to a drop in Bangladeshi visitors amid the escalating political and social unrest in Bangladesh. The town, known for its tourism, education, medical services, and trade, has seen a sharp decline in tourists, particularly from Bangladesh, as the crisis deepens in the neighbouring country. Siliguri's strategic location near the borders of Nepal, Bangladesh, and Bhutan has made it a popular destination for Bangladeshi nationals, who frequent the area for tourism, education, medical treatment, and visa-related matters. However, recent events in Bangladesh have led to a fall in the number of Bangladeshi visitors, severely affecting local businesses, especially hotels and bus services. Hotel owners ...

3Dec

By Online DeskNo Comments

Asia

The GDP of India falls to a multi-quarter low.

India’s real GDP growth fell to a multi-quarter low of 5.4% in the second quarter of 2024, according to official figures released Friday. Economists told Reuters ahead of the release that private consumption, which accounts for about 60% of the country’s GDP, had been affected by higher flood inflation, borrowing costs, and ”sluggish″ real wage growth. But increased government spending is driving a more positive long-term outlook, analysts said: India could overtake Japan next year to be the world’s fourth-largest economy, The Economist wrote, benefiting from geopolitical tensions over China’s rise, and because ”capital will be attracted to India’s liquid stockmarkets and the inclusion of its bonds in global indices.” India’s central bank governor also said the country is&nb...

A new dollar bloc: Reglobalization in the face of United States-China hostilities

3Dec

By Online DeskNo Comments

Asia, China, Market, USA

A new dollar bloc: Reglobalization in the face of United States-China hostilities

The fragmenting of free trade and the rise of industrial policy have resulted in the nascent formation of a trade, finance and currency bloc organized around American economic and security interests. Although not formalized, the democracies in the West and their primary trading partners in Asia, excluding China, appear to be coalescing around mutual economic and security interests in a de facto dollar bloc, with the U.S. Federal Reserve as the lender of last resort. A trading bloc of democracies would include more than 56% of the world’s gross domestic product. China, by contrast, has a 16.8% share of world GDP, while India has 3.4% and Russia 1.9%. In some respects, this dollar bloc evolved out of the crucible of the 2008−09 financial crisis and lessons learned around supply cha...

China’s EV domination is humiliated by Europe’s battery issue.

30Nov

By Joe RodriguezNo Comments

Asia, China

China’s EV domination is humiliated by Europe’s battery issue.

While many businesses worldwide are wringing their hands about Donald Trump’s plans for a “beautiful” tariff war – targeting Canada, Mexico and China on his first day back in the Oval Office – my attention was focused on the sub-Arctic town of Skelleftea in Sweden and the collapse of Northvolt, Europe’s electric-vehicle battery champion. Richard Milne at the Financial Times called Northvolt’s resort to Chapter 11 bankruptcy protection, with US$5.8 billion of debts and just US$30 million cash in its coffers, a “Nordic noir thriller”. The collapse is nothing less than a dagger thrust into the heart of Europe’s future as a global automotive industry leader. Volkswagen has written down most of its 21 per cent stake in the venture. Goldman Sachs is writing off US$896 million in th...

30Nov

By Brian ThompsonNo Comments

Asia, Market, USA, World

Asia Economic Monthly: Asia’s Trump surprise

Donald Trump has won the US presidential election. Tariffs and tax policy will likely be the focus under Trump 2.0, according to Nomura analysis. The administration may implement 60% tariffs against China, which may come into effect by mid-2025, and baseline tariffs of 10% on most foreign products imported by the US. What Trump 2.0 means for Asia Asia is better prepared this time. Trump’s re-election has less of a shock factor given greater familiarity with his policies. Asia is also more resilient, due to the ongoing trends of US-China decoupling, shifts in global supply chains and lower Asian exports to China. Yet, Trump 2.0 will likely mean more policy uncertainty, which may be a negative for Asia. There could be a larger drag on 2025 GDP growth. Even prior to t...

30Nov

By Brian ThompsonNo Comments

Asia, Market

Asia’s transition to climate resilience

Reflecting on the just-concluded COP29 deliberations, it’s clear that Asia’s climate journey is entering a more ambitious phase. Talks at Baku highlighted the region’s essential role in tackling global climate challenges, with conversations ranging from robust carbon markets to ramping up adaptation actions. While negotiations over a new collective quantified goal for global climate finance are casting a dark shadow, the conversations coming out of COP29 underscore the willingness of governments, businesses, and communities across Asia to move from commitments to actionable, region-specific climate solutions. For me, these are the key themes emerging as we look back on 2024. Innovation in the mobility sector: Asia’s mobility sector is rapidly innovating to reduce emissions, with a dist...

Five reasons why India’s GDP might surpass Japan’s to become the fourth biggest

29Nov

By Brian ThompsonNo Comments

Asia, Market

Five reasons why India’s GDP might surpass Japan’s to become the fourth biggest

India’s economy expanded by 5.4 per cent in the July-September quarter of the ongoing fiscal year, marking a slowdown from the previous quarter’s 6.7 per cent growth. Despite this deceleration, India maintains its position as the fastest-growing major economy globally. It’s this kind of sustained growth that had led to expectations that India will surpass Japan to become the world’s fourth-largest economy. The International Monetary Fund (IMF) projects that this will happen as early as 2025. The international body estimates Indian economy’s size would be $4.34 trillion, compared to Japan’s $4.31 trillion. Here’s a look at five factors that could be responsible for such an achievement: Attraction of global investments: India’s financial markets have become increasi...

According to a survey, Asian steelmakers are failing to transition to renewable energy.

29Nov

By Brian ThompsonNo Comments

Asia, Market, World

According to a survey, Asian steelmakers are failing to transition to renewable energy.

Asian steelmakers are among the worst performers at making the switch to renewables, according to a new survey that found many of them are still entirely dependent on fossil fuels for production. Steel production accounts for about 8% of global carbon emissions and about 30% of emissions from industry. A majority of the sector’s emissions are tied to its use of metallurgical coal, which is a key source of heat and carbon needed to turn iron ore into steel. Coal-fired blast furnaces — that melt iron ore and create pig iron — produce 2 metric tons of CO2 for each ton of output. That has put steelmaking in the focus for global climate activists and policymakers, as the world races to make a critical energy transition. But a survey by Sydney-based climate group Action Spea...

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