Jokowi asks banks to support downstream financing
The government hopes this will boost the country’s export value, as well as supporting economic growth.
Big Picture
Global recession in 2023 seen as likely in WEF survey
The survey comes after the World Bank last week slashed its 2023 growth forecasts to levels close to recession for many countries
Gold rush to become trickle this Chinese New Year as Thais cut spending
Industry insiders also said that many gold consumers were still watching their spending, as they had not yet paid off debts built up during the Covid-19 crisis.
More energy, manufacturing and logistics firms among fastest growing in Singapore
There were a total of eight logistics and transportation companies on the 2023 list compared with five in 2022 and this could continue to rise as the industry grows.
Indonesia adjusts foreign tourist targets over global recession risk
Ministry data shows that there were 4.58 million foreign tourist visits to the country from Jan to Nov 2022, a 228.30 per cent increase from the same period the year before.
World Bank sees 4.3% growth for China in 2023
The World Bank predicted gross domestic product expansion is set to slow in all major economies and regions except China.
Spring Festival expected to stimulate consumption boom
Offline consumption has resumed after Beijing declared that the epidemic had passed its peak of infection in early January of this year.
Philippines, Hong Kong discuss possible hiring of 7,000 Filipino caregivers
According to the Hong Kong Immigration Authority, there are 211,514 Filipinos living in the city, most of them employed as domestic workers.
‘Economy will go down the rabbit hole,’ South Korean survey finds
Survey respondents said an unprecedented economic environment was unfolding in Korea this year, in which conventional business strategies do not work.
Philippine peso hits strongest level in six months
According to ING Bank, the foreign exchange markets continued to trade with cautious optimism on the view that a slowdown in the US can rein in further interest rate hikes by the…