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Archive Asia Economy

  • BEIJING— China's government has named a trade specialist as its new commerce minister and appointed a new head of its top economic planning body as part of a Cabinet reshuffle that comes amid a slowing economy and the threat of increased trade friction with President Donald Trump's administration. Chinese policymakers are entering an "uneasy" moment and are...

  • The yen was set to strengthen against the dollar, despite expectations for U.S. rate hikes, a foreign-exchange strategist at JPMorgan said.

  • Workers assemble Kia Motors Corp. Forte vehicles during the inauguration of the company's production plant in Pesqueria, Mexico, on Wednesday, Sept. 7, 2016.

    U.S. President Donald Trump’s protectionist tone will likely hand China significant soft power on trade deals, economists said.

  • Feb 24- Gold prices held steady on Friday near 3-1/ 2- month highs hit in the previous session following tempered expectations of a U.S. rate hike in March, and as investors awaited clarity on President Donald Trump's economic policy. *Spot gold inched down 0.1 percent to $1,248.21 per ounce at 0054 GMT. The metal, which hit $1,251.14, the highest since Nov. 11, in the...

  • Steven Mnuchin

    The administration will heed the concerns of businesses concerned about the impact of a border-adjusted tax, Steven Mnuchin tells CNBC.

  • Royal Dutch Shell and ExxonMobil could see a 10 to15 percent hit to margins at their Singapore refineries when a new carbon tax takes effect in 2019.

  • Yuan currency China

    China has labored under outflows the past couple years, but bond-market reforms could reverse the current, Goldman said in a note Wednesday.

  • SEOUL, Feb 23- South Korea's central bank opted for stability on Thursday, keeping its interest rates unchanged for an eighth straight month as it faces declining consumer confidence, trade challenges, and a government in turmoil from a political scandal. South Korea has worried that its exports are at risk from U.S. President Donald Trump's threatened trade...

  • SINGAPORE, Feb 23- Singapore, a keen early adopter of the sharing economy, has fired a warning shot across the bow of Airbnb and Uber with tighter rules that could shake up their business models and growth ambitions in Asia. "I know a lot of people will give back their keys, that's for sure," said Lionel Ong, 33, an Uber driver, who wants to look for a less demanding part time...

  • *BOK keeps rates at 1.25 pct. SEOUL, Feb 23- South Korea's central bank opted for stability on Thursday, keeping its interest rates unchanged for an eighth straight month as it faces declining consumer confidence, trade challenges, and a government in turmoil from a political scandal. The Bank of Korea left its base rate at 1.25 percent, a record-low, with Governor...

  • Australian airline Qantas, seen here with CEO Alan Joyce, launched daily flights between Sydney and Beijing in January 2017 for the first time since 2009 to capitalise on the increasing growth of the Australia-China travel market.

    Australian flag carrier Qantas Airways on Thursday announced better-than-expected 1H results, sending share prices rallying to a 10-month high.

  • JAKARTA, Indonesia— A report on inequality in Indonesia says its four richest men now have more wealth than 100 million of the country's poorest people. The report released Thursday by Oxfam said Indonesia, with a population of more than 250 million, has the sixth-worst inequality in the world. The report said extreme poverty of less than $1.90 a day in income has...

  • GENEVA, Feb 22- A global agreement to boost trade by cutting red tape and streamlining border checks came into force on Wednesday, promising a 0.5 percent lift to the world economy by 2030 even as it faces renewed protectionism from the United States. World Trade Organization Director General Roberto Azevedo hailed the start of the pact, which he said was the "...

  • *India RBI releases minutes from Feb 7-8 meeting. MUMBAI, Feb 22- The Reserve Bank of India's six-member monetary policy committee cited concerns about inflation in holding rates in February, with three mentioning the need to shift the policy stance to "neutral" from "accommodative," minutes from the meeting showed. The minutes were released on Wednesday, two weeks...

  • HONG KONG, Feb 22- Hong Kong handed out billions of dollars in tax cuts and poverty relief on Wednesday to reflate its economy, and projected a brighter outlook this year amid growing concerns over rising trade protectionism and higher interest rates. "The property market was much better in the December quarter and that filtered into the pick-up in private...

  • A Shell Oil facility in Carson, California

    With commodity prices rallying off historical lows over the past year, pricing in "robust" expectations, but now, markets need to see real demand, Goldman Sachs said.

  • HONG KONG, Feb 22- Hong Kong handed out billions in tax cuts and poverty relief on Wednesday, to stimulate its economy that is expected to grow more strongly than expected at 2 to 3 percent this year despite headwinds from rising global trade protectionism. Financial Secretary Paul Chan said in his maiden annual budget address that stronger exports and jobs,...

  • NEW YORK- Federal Reserve Board Governor Jerome Powell speaks on "The Economic Outlook and Monetary Policy" before a Forecasters Club of New York luncheon- 1800 GMT. DALLAS, United States- Federal Reserve Bank of Dallas President Robert Kaplan discusses issues facing the nation and the global economy- 2330 GMT. LONDON- Bank of England Deputy Governor for...

  • NEW YORK- Federal Reserve Board Governor Jerome Powell speaks on "The Economic Outlook and Monetary Policy" before a Forecasters Club of New York luncheon- 1800 GMT. DALLAS, United States- Federal Reserve Bank of Dallas President Robert Kaplan discusses issues facing the nation and the global economy- 2330 GMT. LONDON- Bank of England Deputy Governor for...

  • It is critical for Hong Kong to strengthen its economy and competitiveness as an key business center, a tax expert said ahead of the city's annual budget.

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