BENGALURU, Nov 3 (Reuters) – Indonesia’s economy grew at its fastest pace in over a year last quarter, buoyed by strong exports and consumption, but a slowdown in China and a widely expected global recession pose significant risks, a Reuters poll found. Southeast Asia’s largest economy has been enjoying an export boom for more than […]
Read MoreTHE Philippine central bank will increase its benchmark interest rate by 75 basis points at its Nov 17 meeting to match the Federal Reserve hike, governor Felipe Medalla said on Thursday (Nov 3). The increase in the overnight reverse repurchase rate from the current 4.25 per cent will take effect after the scheduled meeting in […]
Read MoreSINGAPORE – Asian markets followed Wall Street southwards after Federal Reserve chairman Jerome Powell dashed hopes of an immediate pivot on the US central bank’s aggressive monetary policy. In Singapore, the Straits Times Index (STI), which had recently regained its foothold above the key 3,000 support level, kicked off 34 points or 1 per cent […]
Read MoreThe Regional Comprehensive Economic Partnership (RCEP) is an important mechanism to safeguard the rules-based multilateral free trade system against the trends of anti-globalization and protectionism, Cambodian Prime Minister Hun Sen said on Wednesday. Addressing a high-level forum on the RCEP here, Hun Sen said the rise in protectionism is undermining globalization and rules-based multilateralism momentum. […]
Read MoreGlobal interest rates are projected to reach a ceiling later this month as inflation fears have eased and several central banks are starting to worry about the impact of aggressive monetary policies on the global economy, says Tisco Securities. The Reserve Bank of Australia and the Bank of Canada have started to slow their rate hikes […]
Read MoreDOMESTIC manufacturing activity continued to expand in October but at a pace slower than the previous month, S&P Global reported on Wednesday. At 52.6, the Philippines’ latest purchasing managers’ index (PMI) was down slightly from September’s 52.9. The result remains positive, however, as readings above 50 indicate gains. “While the headline index signaled a slightly […]
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