Indonesia, ADB launch first coal power plant retirement deal
Cirebon 1 power plant in West Java would be refinanced on condition it ends operations 10-15 years early.
Category Archives: Economy
Musk tells G20 forum he has ‘too much work’ since buying Twitter
Tesla CEO says he has been working 'from morning til night' since $44bn purchase of social media giant.
China eases COVID quarantine despite rising cases
Incoming arrivals will only be quarantined for five days under eased measures.
Philippine economy beats expectations, growing 7.6 percent in Q3
Official says Southeast Asian economy on track to meet government's growth target for 2022.
Musk pledges to remove Twitter imposters after celebrity protests
Twitter's new owner makes comments after celebrities change user names to Elon Musk.
Chinese EV maker Nio resumes production after COVID shutdown
China is battling a rising number of COVID cases with tough curbs that have significantly disrupted businesses.
Musk emerging as Twitter’s chief moderator before US midterms
Since taking over Twitter Elon Musk has directly engaged with people on the political right asking for looser rules.
China’s property slump continues as October prices fall
Prices in 100 Chinese cities drop for fourth straight month amid strict COVID curbs.
Asia’s factories hit by global slowdown, China’s COVID curbs
Factory output shrinks in South Korea, Taiwan and Malaysia amid rising fears of a global recession.
How Elon Musk financed his $44bn Twitter takeover
Billionaire used personal assets, investment funds and bank loans to seal purchase of social media giant.
South Korea’s Samsung names Jay Y Lee as executive chairman
Tech giant's announcement confirms company will be officially run by the third generation of its founding family.
Australia’s inflation soars to 32-year high
Annual price growth hits 7.3 percent in the July-September period, the highest since 1990.
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.