China readying $143bn package for chip firms in face of US curbs
Beijing to roll out subsidies and tax credits to bolster semiconductor production and research, sources say.
Category Archives: Economy
Squeezed between China and Russia, Mongolia’s herders feel pinch
Mongolian tent-dwellers face growing hardship amid skyrocketing energy costs and falling livestock prices.
Australia lifts interest rates, adding to mortgage pain
Reserve Bank of Australia lifts benchmark rate to 3.1 percent in effort to bring down high inflation.
Fuel runs dry at South Korean petrol stations as truckers strike
Nearly 100 petrol stations across country run out of fuel as 25,000 truckers demonstrate over pay.
Chinese cold on overseas travel even if COVID curbs ease: survey
Fear of infection listed as top concern of those who are reluctant to travel in survey of 4,000 Chinese consumers.
China’s BYD says it will start selling EVs in Japan by early 2023
The world's largest EV maker plans to roll out the ATTO 3 sports utility vehicle in Japan starting January.
South Korea’s Yoon promises support to boost exports
South Korean leader also pledges to expand free trade agreements into Middle East, Central and South America.
FTX’s Bankman-Fried says he will testify before US Congress
FTX founder says he will testify when he has 'finished learning and reviewing' collapse of cryptocurrency exchange.
IMF head flags inflation, China slowdown as risks to Asia
Kristalina Georgieva says Southeast Asian economies are 'bright spot' in the global economy.
Australia says law making Google pay for news a ‘success’
Treasury report says media outlets have signed more than 30 deals compensating them for news shared on platforms.
Indonesia’s TikTok sellers do roaring trade in hijab, handbags
China's social media platform has more than 106.9 million adult users in Indonesia.
FTX’s Bankman-Fried apologises, denies trying to commit fraud
FTX founder tells conference he made a 'lot of mistakes' and is 'shocked' by emerging details of exchange's collapse.
South Korea orders striking truckers back to work
Moves comes after President Yoon Suk-yeol presided over cabinet meeting to discuss invoking tough strike-busting laws.
South Korea to hold first talks with striking truckers on Monday
South Korean government says strike is causing daily losses of 300 billion won ($224m).
20,000 hires left Apple supplier Foxconn’s Chinese campus: Source
Staff departures come amid concerns about Apple's ability to deliver products for the busy holiday period.
South Korea’s Yoon eyes arms exports as ‘future growth engine’
South Korean leader is aiming to build country's weapons industry into the world's fourth-largest arms exporter.
Apple supplier Foxconn apologises after unrest at Chinese campus
Taiwanese tech giant says 'technical error' to blame for pay dispute that saw workers clash with police.
‘Betrayed’: FTX meltdown signals end to crypto’s ‘Wild West’ days
Cryptocurrency exchange's spectacular collapse spurs government scrutiny and calls for greater regulation.
South Korea’s LG Chem to invest $3bn in US plant for EV parts
South Korean firm says facility will produce components to power 2 million electric vehicles by 2027.
Crypto lender Genesis denies bankruptcy plans after FTX collapse
Genesis's comments come days after it halted customer withdrawals due to liquidity difficulties.