Archive Asia Economy

  • BEIJING— Chinese buyers of eye-poppingly expensive luxury cars will have to pay extra under Beijing's latest effort to rein in ostentatious spending. It wasn't clear whether the latest tax, which explicitly targets imports, might run afoul of Beijing's World Trade Organization commitments to treat foreign and domestic goods equally.

  • BEIJING— China's Finance Ministry has imposed an additional 10 percent import tax on luxury cars in the communist government's latest move to curb ostentatious spending. It applies to "super-luxury vehicles" priced above 1.3 million yuan. The government of President Xi Jinping has imposed a string of measures since 2013 to discourage official corruption...

  • *China economy appears to be gaining momentum. BEIJING, Dec 1- Activity in China's manufacturing sector grew more than expected in November, expanding at its strongest pace in more than two years, as the world's second-largest economy picks up momentum heading into what promises to be a tumultuous 2017.. After a rocky start to the year, China's factories have...

  • Shops temporarily drew their shutters down to support the anti-demonetization protest on November 28, 2016 in New Delhi.

    Once again, data upholds India's ranking as the world's fastest-growing economy. But the South Asian giant can't retain that title for long.

  • *China economy appears to be gaining momentum. BEIJING, Dec 1- Activity in China's manufacturing sector grew more than expected in November, expanding at its strongest pace in more than two years, as the world's second-largest economy picks up momentum heading into what promises to be a tumultuous 2017.. After a rocky start to the year, China's factories have...

  • HONG KONG— Activity at China's factories and services companies accelerated last month to the highest level in more than two years, in the latest sign that the world's No. 2 economy is stabilizing, according to official data released Thursday. China's economy has cooled gradually over the past six years as Beijing tries to pivot it away from heavy reliance on...

  • Protesters carry an effigy of South Korea's President Park Geun-Hye during an anti-government rally demanding the resignation of the president in central Seoul on November 30, 2016.

    Political uncertainty has left the outlook for Asia's fourth-largest economy as cloudy as a glass of makgeolli, a traditional Korean rice liquor.

  • BEIJING, Dec 1- Growth in China's services sector accelerated in November at a faster pace than in the previous month, an official survey showed on Thursday. China is counting on growth in services to offset persistent weakness in exports that is dragging on the world's second-largest economy. The economy expanded at a steady 6.7 percent in the third quarter and...

  • China's economy continued to show signs of stabilization in November with two separate manufacturing surveys released Thursday performing better-than-expected.

  • The logo of the Government of Singapore Investment Corp. (GIC)

    Trump’s win has left a “high degree of uncertainty," said Leif Lybecker Eskesen, senior VP for economics and investment strategy at Singapore state fund GIC.

  • WASHINGTON, Nov 30- President-elect Donald Trump's pick to lead the U.S. Treasury, Steven Mnuchin, said on Wednesday the administration would make tax reform and trade pact overhauls top priorities as they seek a sustained pace of 3 percent to 4 percent economic growth. Trump announced the economic team nominations, along with that of Chicago Cubs co-owner Todd...

  • WASHINGTON, Nov 30- President-elect Donald Trump's pick to lead the U.S. Treasury, Steven Mnuchin, said on Wednesday the administration would make tax reform and trade pact overhauls top priorities as they seek a sustained pace of 3 percent to 4 percent economic growth. Trump announced the economic team nominations, along with that of Chicago Cubs co-owner Todd...

  • WASHINGTON, Nov 30- President-elect Donald Trump's pick for U.S. Treasury secretary, Steven Mnuchin, said on Wednesday the administration would target tax reform and trade pact overhauls as top priorities as they seek to achieve 3 percent to 4 percent economic growth. Trump planned to announce the appointments, along with that of Chicago Cubs co-owner Todd...

  • 7-Eleven made its debut in Shanghai in 2009 with four stores.

    Convenience stores are booming in China as the pace of life speeds up and consumers seek quick purchases, says Bain & Company.

  • STOCKHOLM- Riksbank Deputy Governor Martin Floden talks about monetary policy and the economic situation- 0735 GMT. BERLIN- German Chancellor Angela Merkel, World Bank Group President Jim Yong Kim, German Finance Minister Wolfgang Schaeuble and Bundesbank President Jens Weidmann to attend Germany's G20 presidency. NEW YORK- Federal Reserve Bank of Dallas...

  • South Korean President Park Geun-Hye bows prior to delivering an address to the nation, at the presidential Blue House on November 4, 2016 in Seoul, South Korea. She has come under fire following an influence-peddling scandal.

    Park Geun-hye has asked parliament to find a way for her to give up power and decide when she should step down amid an influence-peddling scandal.

  • Thailand's Crown Prince, Maha Vajiralongkorn, making a speech at a cultural event with local religious leaders in the southern Thai province of Pattani. He is widely expected to ascend the throne, following the death of the much loved king Bhumibol Adulyadej.

    Thailand's defense minister says the cabinet expects an audience with Crown Prince Maha Vajiralongkorn, who is expected to ascend the throne as early as this week.

  • Japan Inc. won't raise wages because there is a lack of confidence in the earnings outlook for the long-term, says Japan Center for Economic Research's Jun Saito.

  • Supporters of The All India Trinamool Congress during a rally against demonetization of the Rs.500 and RS.1000 notes  on November 28, 2016 in Kolkata.

    Three weeks after Modi announced a major currency reform, doubts remain as to whether the controversial policy can stamp out tax evasion.

  • A worker assembles parts to make engines at Nissan Motor's Yokohama Plant.

    Japan's jobless rate held steady in October, while household spending fell at a slower pace.

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