Indonesia’s exports see unexpected gain as Chinese, Indian demand picks up
With trade surplus rising to US$5.67 billion, the export side was backed by shipments of crude palm oil, coal, iron, and steel.
Economic Affairs
Pay rise seen to surpass pre-Covid-19 levels; inflation to eat into S’pore wages
Despite the negative real salary increase, the survey found that only 22 per cent of organisations here are increasing salary budgets to combat rising inflation.
Bangladesh buckles up as tough 2023 looms
In anticipation of the crisis, the government is now focusing on precautionary measures like increasing food production, among others.
Singles Day reaping significant retailing bonanza for China
While the country has announced measures to optimize its Covid-19 rules, domestic consumption is expected to further gain growth momentum in the coming months.
ADB predicts slower economic growth than expected in 2023
Lowering the 2023 forecast to 6.2 per cent from the earlier 6.5 per cent, the Asian Development Bank cited weaker global growth as a cause.
October inflation in China unexpectedly eases
Some experts said they expect a cut in the reserve requirement ratio, which would reduce the amount of cash banks must hold as reserves, and thus boost lending and demand.
Indonesian firms cut staff, costs as global crisis hits home
Export-oriented industries are among the hardest hit, with many reporting sales plunging 30 to 50 per cent or even more, depending on their reliance on the overseas market.
Limit to renminbi’s rising popularity
The renminbi is now the world’s fifth most traded currency in terms of global foreign exchange (forex) turnover – up from the eighth spot in 2019.
Philippine president says economy grew 7.6% in Q3
Analysts polled by Reuters had expected gross domestic product to grow 6.3 per cent on an annual basis, below the previous quarter’s upwardly revised 7.5 per cent growth.
Airline on the block in Sri Lanka reforms
With nearly 6,000 staff, SriLankan Airlines is the biggest and most expensive of the cash-hemorrhaging, sclerotic companies that have drained the budget.