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Asia’s factory activity contracts in January

TOKYO: Asia’s factory activity contracted in January as the boost from China’s Covid reopening had yet to offset headwinds from slowing US and European growth, surveys show, underscoring the fragility of the region’s economic recovery. A private sector survey showed that China’s factory activity shrank more slowly in January after Beijing lifted tough Covid curbs […]

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For Asean countries, IMF sees slower global growth outweighing China reopening

SINGAPORE: International Monetary Fund economists said on Tuesday that Singapore and other Southeast Asian economies are seeing downgrades to their 2023 growth outlooks because slowing global growth will outweigh the positive impact from China’s economic reopening. Chief economist Pierre-Olivier Gourinchas told a news briefing on the IMF’s latest global growth forecasts these forces prompted the […]

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ASEAN BAC Chair Indonesia to Work on Regional QR Code Payment

Jakarta. The ASEAN Business Advisory Council, or ASEAN BAC, is planning to work on integrating their respective countries’ QR code payment systems, according to the grouping’s 2023 chair Indonesia. The Indonesian Chamber of Commerce and Industry (Kadin) this year is chairing the ASEAN BAC — the business forum of the Southeast Asian bloc. Kadin chairman Arsjad […]

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Inflation rates seen on target in Asia by 3rd quarter

MANILA, Philippines — Inflation rates are likely to be back on target in Asia by the third quarter, with fuel prices seen to decline further and food prices expected to ease, according to think tank Oxford Economics. “Ebbing supply-side shocks and demand-side weakness mean headline inflation is likely to fall sharply in Asia over H1 […]

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Central bank rates seen peaking soon in SE Asia

MANILA: Southeast Asian central banks look like they are close to done fighting inflation using interest rates, with economists seeing the tightening cycle ending after 25- to 50-basis points of moves in the coming months. Policymakers in Indonesia, Philippines and Thailand will each raise borrowing costs by a total half-point in the coming months before reaching their […]

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Time for barrier-free travel in Southeast Asia

As experts forecast tourist arrivals in Southeast Asia will grow beyond pre-pandemic numbers in the next two years, could Asean maximise the benefits of this trend by removing barriers to travel within the region? Recognising the potential impact the sector could have on economic development, tourism has been a key area of cooperation among member states […]

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