Australia’s inflation soars to 32-year high
Annual price growth hits 7.3 percent in the July-September period, the highest since 1990.
Category Archives: Economy
SK Hynix says industry woes ‘unprecedented’, to cut investment
South Korean chipmaker's third-quarter profit tumbles 60 percent amid a surge in inflation.
China Congress: Economic trends to watch as Xi consolidates power
China’s economy is facing some of the worst headwinds in decades as the ruling Communist Party holds key congress.
South Korea delivers big interest rate hike, offers dovish hints
Bank of Korea raises its benchmark rate to 3 percent while acknowledging pain of higher borrowing costs for households.
US waives export curbs for some non-Chinese chipmakers
South Korea's SK Hynix confirms it has received permission to obtain equipment for chip production facilities in China.
Australia to avoid recession amid ‘dangerous’ outlook, gov’t says
Treasurer Jim Chalmers warns country would not be 'immune' from global economic downturn.
India to weigh Russia’s offer on Sakhalin-1 oil project
Petroleum minister says India has "healthy dialogue" with Russia following decree to seize foreign stake in project.
Pink diamond sells for $49.9m, breaks auction record
Originally estimated at $21m, the 11.15-carat Williamson Pink Star diamond was sold for $49.9m at Hong Kong auction.
Megayacht tied to sanctioned Russian tycoon anchors in Hong Kong
Superyacht linked to Russian billionaire Alexey Mordashov is estimated to be worth $500m.
Samsung’s earnings plummet in warning sign for global demand
South Korean tech giant reports worse-than-expected 32 percent drop in quarterly operating earnings.
US could ease Venezuela sanctions, allow Chevron to pump oil: WSJ
Biden administration preparing to ease sanctions if Caracas takes steps towards restoring democracy, report says.
Vietnam eyes China’s tech crown as firms tire of ‘zero COVID’
Apple, Google, and Samsung are among the tech giants expanding operations in the fast-growing Southeast Asian country.
New Zealand’s central bank lifts interest rate to 7-year high
Reserve Bank of New Zealand raises the benchmark rate by half a percentage point in fifth straight outsized hike.
Australia breaks with global trend to slow interest rate hikes
Reserve Bank of Australia lifts key rate by 0.25 percentage point in nod to uncertain global economic outlook.
Samsung says to triple advanced chip production by 2027
World's No 2 foundry sees strong demand for chips used in high-performance computers and artificial intelligence.
IMF to consider $1.3bn in emergency funding for Ukraine
Sources say Ukraine has received sufficient financial assurances from partners to meet IMF's debt sustainability rules.
One year in, Japanese PM’s ‘new capitalism’ faces old complaints
Japanese leader's signature economic strategy has been criticised for lacking concrete details or targets.
Japan’s business mood worsens for third straight quarter
Bank of Japan survey shows worsening business sentiment amid rising costs, plummeting yen and COVID-19 pandemic.
Singapore tightens property curbs to cool demand
City-state tightens lending limits for housing loans in response to rise in interest rates.
South Korea’s factory output falls in warning for global economy
Asia’s fourth-largest economy sees industrial output shrink a worse-than-expected 1.8 percent in August.