Won weakens further despite warning against speculation
The depreciating won is a headache for households too, who may have to refinance their budget to respond to soaring food import costs.
The depreciating won is a headache for households too, who may have to refinance their budget to respond to soaring food import costs.
While the renminbi exchange rate against the US dollar touched a 23-month low, experts said it is unlikely the Chinese yuan will depreciate significantly in the rest of the year.
Despite the huge repayment, the government’s outstanding debt will still jump to a new high of P14.63 trillion by end 2023.
China's over-five-year loan prime rate dropped to 4.3 per cent in August, marking the lowest level since the rate debuted in Aug 2019.
The local unemployment rate from May to July dropped 1.1 percentage points compared with the level from February to April, while the underemployment rate fell 1.6 percentage…
The development comes after scores of people in several parts of the country took to the streets in protest against inflated power bills of both domestic and industrial…
Eco-friendly building materials can be a solution to minimise plastic waste, but challenges, including costly production, remain.
At the same time, the government will also impose heavy regulatory duties on these items, with duties for some sectors going up to 400 to 600 per cent.
The government projects 2023 GDP growth of 5.3 per cent, a tad higher than this year’s expected 5.2 per cent, and inflation is predicted to fall to 3.3 percent.
The last time bread prices were adjusted was in Feb 2022, after local bread manufacturers grappled with the rising cost of flour, which had increased by nearly 45 per cent.