despite modest improvements in the country’s economy and a more lenient attitude of regulators toward the tech sector, Chinese internet giant Tencent on Wednesday ( Mar 20 ) posted its lowest annual profit since 2019. Tencent’s total net profit for 2023 stood at 115.2 billion yuan ( US$ 16.0 billionContinue Reading
Malaysia’s central bank called for an acceleration of structural reforms on Wednesday ( Mar 20 ), with the country’s economy expected to benefit from a rebound in exports and robust domestic spending this year. In documents released along with its annual review, Bank Negara Malaysia claimed that favorable economic conditions,Continue Reading
China: China’s stock output increased between January and February, beating expectations, making it a strong start for 2024 and providing some temporary relief to policymakers looking to resurrect stagnant economic growth. In the first two months of the year, industrial output increased by 7.0 percent, according to data released byContinue Reading
TOKYO: Japan’s biggest firms agreed to raise pay by 5.28 per cent for 2024, the heftiest pay excursions in 33 years, the country’s largest union group said on Friday ( Mar 15 ), reinforcing opinions that the state’s central banks will soon shift away from a century- long stimulus programme.Continue Reading
COLOGNE: Europe’s heat safety regulation will take whatever time is needed to review China’s C919 passenger aircraft, its top official told Reuters, dampening Beijing’s hopes of rapidly breaking into a market marked by jet shortages and a Boeing safety crisis. China is putting more regulatory pressure on American governments toContinue Reading
Tokyo: It surprised left officials who have long been associated with the criticism when Fumio Kishida hand-picked unionist-turned-opposition senator Wakako Yata as one of his particular experts next year. But, Yata’s session as the company’s head of labor and income highlighted growing cooperation between the government and organisations as policymakersContinue Reading
US companies are scheduled to announce opportunities worth more than US$ 1 billion in the Philippines, according to US Commerce Secretary Gina Raimondo during a Monday ( Mar 11 ) official visit there. According to her, the opportunities would be in sectors like renewable energy, energy vehicles, and digitalization. RaimondoContinue Reading
TOKYO: Japan’s economy expanded at an annualised clip of 0.4 per cent in October-December from the previous quarter, better than the initial estimate for a 0.4 per cent contraction, government data showed on Monday (Mar 11). The revised figure for gross domestic product (GDP) released by the Cabinet Office comparedContinue Reading
In February this year, CPI rose 1.0 per cent month-on-month, outpacing the 0.3 per cent uptick in January and the 0.7 per cent growth forecast by economists. But the producer price index (PPI) fell 2.7 per cent from a year earlier in February versus a 2.5 per cent drop theContinue Reading
One of the largest wheel manufacturers in the world, Goodyear Tire &, Rubber Co, plans to shut down its plant in Malaysia on June 30 this decision is expected to affect more than 500 people, according to the business and Malaysia’s purchase advertising firm. The plant’s closure in the ShahContinue Reading