Most emerging Asian currencies weakened against a stronger US dollar on Thursday, with the Thai baht shedding more than 1% following a quarter-point rate hike that investors viewed as moderate to bring down inflation running at a 14-year high. Bank of Thailand (BoT) governor Sethaput Suthiwartnarueput said the bank was ready to adjust the pace […]
Read MoreIt’s fair to say there exists a level of social and economic inequality within Asean. Following the 1997 Asian financial crisis that exposed Asean’s vulnerability to cross-border capital flows, the region has undergone a significant transformation, from a bloc of mostly underdeveloped and developing countries to one with the world’s most dynamic economies collectively. However, rapid […]
Read MoreThe World Bank has painted a rosy picture for East Asia and the Pacific region excluding China for this year. The growth in the region outside China is likely to pick up to 5.3 percent in 2022 from 2.6 percent in the previous year, says the East Asia and Pacific October 2022 Economic Update of […]
Read MoreMANILA: Economic growth in East Asia and the Pacific will weaken sharply in 2022 due to China’s slowdown, but the pace of expansion will pick up next year, the World Bank says. The Washington-based lender said in a report it expected 2022 growth in the East Asia and Pacific region, which includes China, to slow […]
Read MoreSINGAPORE: Asian markets risk a reprise of crisis-level stress as two of the region’s most important currencies crumble under the onslaught of relentless dollar strength. The yuan and yen are both tumbling due to the growing disparity between an uber-hawkish Federal Reserve and dovish policy makers in China and Japan. While other Asian nations are […]
Read MoreTHE Asian Development Bank (ADB) has revised up its 2022 growth projection for South-east Asia to 5.1 per cent from 4.9 per cent, as stronger forecasts for Indonesia, Myanmar and the Philippines offset downward revisions for Singapore and Thailand. In an update of the Asian Development Outlook 2022, released on Wednesday morning (Sep 21), ADB said […]
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