Tag: Asia

IMF downgrades growth forecast for Asia

IMF downgrades growth forecast for Asia

The Washington-based International Monetary Fund (IMF) has downgraded its growth prospects for Asia amid the euro zone debt crisis and sluggish US growth. The IMF is now forecasting growth for Asia of 6.3% in 2011 and 6.7% in 2012. This is slightly lower than the 7% growth for both years it estimated in April. According […]

October 14, 2011 More
Chinaa��s inflation rate eases in August

Chinaa��s inflation rate eases in August

Inflation in the worlda��s second largest economy eased last month after reaching a 3-year high in July. According to the National Statistics Bureau, consumer prices rose by 6.2% in August on an annual basis, compared with 6.5% the previous month. Several other economies throughout the world are battling with higher inflation, particularly in Asia, which […]

September 9, 2011 More
Philippines economic growth slows in Q2

Philippines economic growth slows in Q2

The National Statistical Coordination Board has revealed the Philippine economy grew at an annual rate of 3.4% in the second quarter a�� slowing from an annual growth of 4.6% in the previous quarter. The expansion was less than the 4.4% expected by economists. Compared with the previous three months, the economy, which is South East […]

August 31, 2011 More
Singapore’s economy disappoints in Q2

Singapore’s economy disappoints in Q2

July 14, 2011 More
China lifts rates to combat inflation

China lifts rates to combat inflation

The Peoplea��s Bank of China has today lifted interest rates a�� the third time this year a�� as it battles to tame inflation. Inflationary pressures are rife in Asia and many central banks have opted to hike interest rates in an attempt to combat rising prices. The bank said the one-year lending rate will rise […]

July 6, 2011 More
Chinese inflation hits 34-month high

Chinese inflation hits 34-month high

Inflation in the worlda��s second largest economy reached the highest level in 34 months in May as food prices continue to rise. Consumer prices rose by 5.5% in May on an annual basis a�� higher than expectations of an annual rate of 5.3%. Food prices (the primary factor behind stubbornly high inflation) remain high, rising […]

June 14, 2011 More
Weak US data sends Asian shares falling

Weak US data sends Asian shares falling

Asian shares fell today after the worlda��s largest economy raised fears of a slowdown. Figures issued in the US yesterday revealed manufacturing activity slowed to its lowest level since September 2009 and was weaker than economists had expected. Furthermore, payroll processing firm ADP said private employers created a less than expected 38,000 jobs last month […]

June 2, 2011 More
Indian inflation eases in April

Indian inflation eases in April

India’s wholesale price index, the country’s main inflation rate, eased last month to an annual 8.66% from March’s figure of 9.04%. However, the figure was still above the 8.48% expected by analysts and comes as fuel and food prices continue to rise. The food price index increased 8.71%, while the fuel price index rose 13.32% […]

May 16, 2011 More
Asia’s economic recovery under threat from soaring food prices

Asia’s economic recovery under threat from soaring food prices

A report by the Asian Development Bank (ADB) has warned soaring food and fuel prices threaten to push millions into extreme poverty and hamper economic growth in Asian economies. Previous reports have suggested that Asia is leading the way in the global recovery with staggering economic growth figures but food price inflation is threatening growth […]

April 26, 2011 More
Tesco full year profit boosted by Asian growth

Tesco full year profit boosted by Asian growth

Supermarket giant Tesco has today announced overall pre-tax profits were A?3.5 billion for the year to 26 February a�� an 11.3% rise on a year ago. Profits were 30% higher in Asia at A?570 million with sales up 21% to A?11 billion, driven by a strong performance in Thailand and Korea. Today’s results represent the […]

April 19, 2011 More
US inflation rises more than expected in March

US inflation rises more than expected in March

The US Labor Department has today revealed consumer prices climbed to 2.7% in March from 2.3% in February. The rise, which was more than expected, was attributed to higher food and petrol prices. Meanwhile, on a monthly basis, consumer prices rose by 0.5% in March. Inflation is rising in many economies throughout the world, particularly […]

April 15, 2011 More
India’s inflation surges to 8.9% in March

India’s inflation surges to 8.9% in March

South Korea lifts inflation forecast

South Korea lifts inflation forecast

The Bank of Korea has lifted its inflation forecast for the 2011 year as food and oil prices rise. Inflationary pressures are rife in Asia and many central banks have opted to hike interest rates in an attempt to combat rising prices. The latest figures from Statistics Korea showed the consumer price index rose by […]

April 13, 2011 More
Inflation remains challenging for Asian economies

Inflation remains challenging for Asian economies

The Asian Development Bank (ADB) has said inflationary pressures remain rife in Asia’s developing economies and could pose a challenge for many, leading to social tensions. However, the region is powering ahead in the economic growth stakes, due to soaring exports, and has been leading the way in the global economic recovery. Growth rates for […]

April 6, 2011 More
Peoplea��s Bank of China raises interest rates to tame inflation

Peoplea��s Bank of China raises interest rates to tame inflation

The Peoplea��s Bank of China today lifted interest rates in a further attempt to fight stubborn inflation. The central bank increased the one-year yuan lending rate by 25 basis points to 6.31% and the one-year yuan deposit rate, also by 25 basis points, to 3.25%. The latest figures from Chinaa��s National Bureau of Statistics (NBS) […]

April 5, 2011 More
South Korean inflation surges to 29-month high

South Korean inflation surges to 29-month high

Statistics Korea has today announced the inflation rate has jumped to a 29-month high a�� driven by higher food and fuel costs. According to Statistics Korea, the consumer price index rose by 4.7% in March on an annual basis. The rate is now at the higher end of the central banka��s 2%-4% target. On a […]

April 1, 2011 More
Vietnam sees inflationary pressures continue

Vietnam sees inflationary pressures continue

The Government’s General Statistics Office has revealed consumer prices in Vietnam rose to 9.46% in March – up from Februarya��s 8.46%. The latest rise – which is the seventh consecutive gain – will add further pressure on the central bank to lift interest rates. Inflationary pressures are rife in Asia and in the last few […]

March 24, 2011 More
Asian stocks and yen down after quake

Asian stocks and yen down after quake

Asian shares and the yen have dropped after a 8.9 magnitude earthquake hit Japan. The earthquake hit the northeast coast of Japan, followed by a 13-foot tsunami wave sending shares tumbling. Shares had already lost ground following weak economic data and the Middle East turmoil. Japana��s Nikkei index was 1.7% lower, but Nikkei futures lost […]

March 11, 2011 More
South Korea lifts rates to combat inflation

South Korea lifts rates to combat inflation

South Koreaa��s central bank has today elected to lift interest rates in order tame high inflation. The move did not come as a surprise to analysts after the bank lifted its main interest rate from 2.75% to 3%. Analysts believe more rate hikes are on the cards, with many predicting rates to be between 3.5% […]

March 10, 2011 More
HSBC again denies talks of relocation

HSBC again denies talks of relocation

HSBC, which is Europea��s largest bank, has once again denied rumours that it is planning to relocate its UK headquarters to Hong Kong. A report in the Sunday Telegraph quoted an unnamed, investor as saying “we were told that a move [to Hong Kong] is now more than likely”. However, the bank has refuted the […]

March 6, 2011 More