World Bank cuts 2023 world growth forecast in ‘sharp, long-lasting slowdown’
The World Bank’s latest forecast points to a “sharp, long-lasting slowdown” with growth pegged at roughly half the pace it predicted in June.
Economy
Travel agencies relieved as tourists make up for lost time
For the past New Year's Day holiday, a robust recovery took the tourism market by storm.
UBS expects Chinese market to deliver more growth
The consumption recovery in the Chinese market will drive companies' earnings rise, while a recession in developed economies will affect earnings growth in overseas markets in…
Hong Kong moots promotion exercise in Feb to lure visitors, businesses: John Lee
He also noted that 17 per cent of the daily quota of 60,000 Hong Kong allowed to travel to the mainland in the next eight weeks have been booked.
Overcoming looming economic challenges in 2023
For Bangladesh, though inflation has subdued slightly in recent months, it is still much higher than the previous year and the government's projections.
It’s unlikely that IMF will take PM Shehbaz’s assurances favourably, given its experience with Pakistan
For the prime minister to personally step in, after his finance minister has refused to budge for months, shows that the PML-N leadership remains divided on what its strategy…
Plunging profits of Samsung and LG show harsh market conditions, global downturn
The drop in their earnings is a negative sign for Korea, whose economy is already saddled with a slew of challenges, including stubbornly high inflation and sluggish domestic…
Record-high 2022 pork imports seen to further harm local meat producers
Brazil was the Philippines’ primary source of meat imports with Spain and the United States coming in second and third.
Bank of Korea likely to continue rate hikes
Though the consumer price index fell slightly to the 5 percent range after reaching its peak at 6.3 percent in July, it still exceeds the 2 percent target set by the central bank.
Indonesia’s new minimum wage regulation angers workers, employers
The new regulation has drawn ire from both workers and employers, who say that it has created legal uncertainty.