Worsening inflation outlook fuels sharper rate hike bets for South Korea
The monthly increase observed in the survey is also the largest gain seen since the Bank of Korea began compiling data in 2008.
Economy
Covid-19 app used by Indonesia to keep tabs on cooking oil distribution
The app, PeduliLindungi, is to limit purchases of bulk cooking oil in a day for each person, verified through the buyer’s single identity number registered in the system.
‘Impossible situation’ for Sri Lankans struggling for petrol
Left with just enough fuel for about a week, the government restricted supplies to essential services, such as trains, buses and the health sector, for two weeks.
Inflation pressures weigh heavily on Asia
However, on average, Consumer Price Index inflation pressures in Asia are still moderate compared with those in the United States and European Union member nations.
Talks on minimum wage hike likely to have rough going in Japan
The government, for its part, is targeting a quick bump up to ¥1,000 or more, but the management side has strong concerns and will likely make for rough going in the negotiations.
Delhi government extends its free ration scheme till Sept 30
The government has been supplying rations for free to almost 7.3 million citizens since April 2020.
Prices of chicken and eggs go up in Malaysia
The ceiling price for standard chicken was previously set at RM8.90 per kg in the peninsula, and was slated to be removed on July 1.
G7 to work to ‘develop a price cap’ on Russian oil: US official
The plan aims to starve the Kremlin of its "main source of cash", US national security advisor, Jake Sullivan, said.
Mass biodiversity loss would slash global credit ratings: Report
The study estimated that 58 per cent of the 26 countries studied face a downgrade of their sovereign credit rating.
Cash-starved Sri Lanka to end fuel duopoly to ease shortages
Sri Lanka is suffering its worst economic crisis since its independence, with foreign exchange reserves at a record low of $1.92 billion, according to the central bank.