South Korea passes $49.5bn extra budget ahead of local elections
Supplementary budget will fund support for small businesses and self-employed people affected by pandemic restrictions.
Category Archives: Economy
Fiji to join Biden’s economic framework aimed at countering China
White House says island nation will become the 14th member of the Indo-Pacific Economic Framework for Prosperity.
China’s industrial profit falls sharply in April amid COVID curbs
Profits shrink 8.5 percent from a year earlier as lockdowns squeeze margins and disrupt factory activity.
Philippines’s Marcos names new finance chief, central bank head
President-elect points to rising inflation and job creation as priorities of his administration.
New Zealand’s Ardern urges US to return to regional trade pact
Remarks are latest signal by an Asia-Pacific leader that US President Biden's engagement with region is falling short.
Q&A: DRC has more to lose than gain in regional bloc – opposition
Opposition leader believes the DRC has more to lose than gain from its recent integration into the eastern African bloc.
China pledges support for ailing economy, analysts doubt impact
Beijing says it will roll out additional tax cuts and postpone social security payments for firms to support growth.
AirAsia faces backlash over delayed pandemic refunds
Customers say they are still waiting on refunds for flights that were cancelled or rescheduled during the pandemic.
After Terra, Luna crashes, regulators count cost of crypto
Spectacular collapse of stablecoin puts focus on regulatory frameworks in South Korea and Singapore.
Indonesia flags sales rule after ditching palm oil export ban
Announcement comes day after the world's biggest producer of the key edible oil reverses ban on its export.
‘Difficult to believe’: Biden’s economy plan a tough sell in Asia
US president's arrival in Seoul will mark start of effort to promote new Indo-Pacific Economic Framework in region.
China’s new home prices fall for the first time since December
Average new home prices in 70 major cities fall 0.2 percent on a month-on-month basis after flatlining in March.
Japan’s Q1 GDP shrinks as Ukraine, cost of living cloud outlook
World's No 3 economy shrinks at an annualised rate of 1 percent in January-March from the previous quarter.
‘Jobs are at stake’: Asia ‘playing catch-up’ on post-COVID travel
Head of global airline body says region falling behind rest of the world on restarting international travel.
Thailand lowers GDP outlook amid Ukraine war, China slowdown
National Economic and Social Development Council says it sees gross domestic product expanding 2.5-3.5 percent.
Hikvision sanctions signal uncharted waters from UK to Vietnam
Washington's reported plans to sanction Chinese tech firm could have ramifications for countless companies worldwide.
China’s small businesses buckle under lockdowns, as expats exit
Beijing’s controversial “dynamic zero COVID policy" is hammering the world's second-largest economy.
Malaysia’s Q1 GDP beats forecasts amid recovering demand
Gross domestic product rises 5 percent in January-March period, up from 3.6 percent growth in previous quarter.
China’s tech workers face layoff bloodbath amid crackdown, losses
Tens of thousands of workers have been let go amid a regulatory crackdown and overly aggressive expansion.
For Russians, flying abroad is a difficult, costly affair
Russian airlines are slowly reentering overseas markets as they navigate sanctions and isolation over Ukraine war.