Indonesia shines amid global gloom with forecast-beating GDP
The country’s Q2 GDP grew 3.72 per cent quarter-on-quarter to beat Bank Mandiri’s estimate of 3.44 per cent, while growth was up 5.23 per cent in the first half of the year.
Economic Affairs
S’pore’s heartland shops go cashless, refresh shopfronts and step up marketing
88 per cent heartland enterprises have taken up at least one form of e-payment method as at May 2022, an increase from 53 per cent in Oct 2020.
Housing occupancy rate in 28 Chinese cities at 12%: Report
Vacancy rates in Shenzhen, Beijing and Shanghai stood below 7 per cent, while rates in Nanchang, Langfang and Foshan were over 15 per cent.
Indonesian firms look inward for financing as global volatility runs amok
The sluggish corporate bond issuance in Indonesia was on par with similar trends across Asia, partly driven by the absence of Chinese firms’ issuance.
Pakistan rupee makes highest single-day gain of Rs9.59 in interbank markets
An expert noted the recovery was due to a sharp drop in import payments after all letters of credit for oil in July were cleared and exporters rushed to close their open positions.
WFH no longer a perk but hiring standard in Indian tech sector
As India has eased Covid-19 restrictions, information technology firms have found that employees are reluctant to return to the office full-time.
China mulls allowing foreign groups to establish finance firms
Foreign multinational groups will be able to establish finance companies directly or through foreign-funded investment companies established in China.
China’s economy in 2nd half to post steady rebound
While renewed Covid-19 outbreaks may threaten the pace of the recovery, the country's supply chain will be more resilient, economists said.
Heavy rains, floods hit Pakistan, Iran, Afghanistan trade
The friendship gate at the Pak-Afghan border in Chaman was also closed due to heavy rains along the Quetta-Kandahar highway.
‘Digital tax’ pours $167 million into Indonesia’s state coffers in first half of 2022
Rp 2.47 trillion came from VAT on transactions made through electronic systems on digital platforms like Google, which the government has collected since 2020.