Japan’s SoftBank posts $17bn fund loss on tech slump
Investment management giant had booked a record loss in May amid market turmoil driven by rising interest rates.
Category Archives: Economy
Taiwan, once world’s factory, taps tourism to keep plants alive
'Tourism factories' seek to give new life to industries that have for years been moving operations overseas.
Ships resume Taiwan routes amid uncertainty over China drills
More than 30 vessels have transited through China’s drill zones since Sunday, according to ship-tracking data.
Investors dump Chinese stocks, bonds amid global recession fears
Trade group report points to sixth consecutive month of foreign outflows from China's $20 trillion bond market.
Indonesia’s PayPal, Yahoo bans cast cloud over tech hub dream
Jakarta's temporary blocking of websites highlights tension between desire to rein in internet and grow digital economy.
Toyota’s profits plunge 42 percent on chip shortages, COVID curbs
Japanese carmaker has repeatedly cut production targets due to global chip shortage and China's pandemic restrictions.
Why China is not sanctioning Taiwan’s key chip industry
Beijing relies on self-ruled island's semiconductors to keep its economy on track.
Australia’s central bank raises benchmark rate for fourth month
Reserve Bank of Australia lifts cash rate by half a percentage point to 1.85 percent.
Asian markets rattled by tensions over Pelosi’s Taiwan visit
Indexes in China, Hong Kong, Taiwan, Japan, South Korea and Australia dip ahead of expected trip.
Hong Kong slips into second recession since 2019 mass protests
International financial hub's economy shrinks 1.4 percent in the second quarter, after previous 3.9 percent decline.
South Korea’s prices soar to near quarter-century high
Inflation hits 6.3 percent in July, the highest rate since November 1998.
New Zealand fully reopens borders, marking end of COVID controls
The South Pacific country began easing its tough border regime in February.
China drops reference to economic growth target amid COVID fight
Ruling Communist Party drops previous calls to reach 5.5 percent growth this year.
Samsung Electronics reports 12 percent profit rise in Q2
South Korean tech giant reports record quarterly profit for key semiconductor business.
Australia’s prices rise at fastest pace in over two decades
Inflation rises to 6.1 percent in second quarter amid expectations of further interest rate hikes.
North Korea’s economy shrinks for second straight year: BOK
GDP shrinks an estimated 0.1 percent as border closures and lockdowns hinder industrial activity and trade with China.
China seeking to infiltrate US Fed, senior Republican claims
Ohio Senator Rob Portman says Chinese authorities detained Fed employee in Shanghai and copied their contact details.
Asia goes nuclear as climate, Ukraine banish memory of Fukushima
China, Japan, South Korea, India and Pakistan are betting on nuclear power amid climate crisis, energy security fears.
Biden to hold virtual talks with head of South Korea’s SK Group
White House says virtual meeting will focus on investments in American manufacturing and jobs.
China’s Alibaba eyes dual primary listing in Hong Kong
Move would see Alibaba become the first large company with primary listings in both New York and Hong Kong.