ASIA: China’s manufacturing PMI fell to 50.4 in July from 51.7 the previous month, according to media reports on August 1. That was below market analysts’ expectations of 51.5 for July, but above the 50-point … Read more
ASIA: Japan’s central bank forecast inflation would exceed its target this year in new forecasts on Thursday but kept interest rates ultra-low, signaling its determination to remain an outlier in a wave of global central … Read more
ASIA: An iPhone manufacturing plant in the southern Chinese city of Shenzhen is being forced into a seven-day “closed-loop” lockdown by Chinese authorities, along with 100 other companies, to limit COVID-19 infections, Bloomberg reported. The … Read more
ASIA: Singapore’s sovereign wealth fund GIC reported steady returns for the year but warned of “deep uncertainties” as investors face concerns over inflation, pandemic risks and geopolitical challenges. The fund’s portfolio posted an annualized nominal … Read more
ASIA: Ant Group executives are no longer part of Alibaba Partnership, a body that can nominate the majority of the e-commerce giant’s board, Alibaba’s annual report released on Tuesday showed. as both companies parted ways … Read more
ASIA: China’s new household deposits grew more than a third year on year to a record USD 1.5tn in the first half of 2022, while individual bank borrowings plunged more than half over the same … Read more
ASIA: Industry body FICCI on Thursday said India’s economy is estimated to grow 7% in the current fiscal, lower than the earlier projection of 7.4%, mainly due to the ongoing geopolitical uncertainties. FICCI’s Economic Outlook Survey … Read more
ASIA: Asian Development Bank (ADD) in its “E-Mobility Options for ADB Developing Member Countries,” which both forecast and recommended the quick shift to electric vehicles in the region to stem both climate change issues and … Read more
ASIA: Chinese authorities on Sunday violently dispersed a peaceful protest by hundreds of depositors, who sought in vain to demand their life savings back from banks that have run into a deepening cash crisis. Since … Read more
ASIA: China’s banks have detailed 2.11 billion yuan ($312 million) of loans at risk to the increasing number of homebuyers refusing to pay mortgages on unfinished homes, as fears grow over a potential spillover into … Read more