HONG KONG: The Hong Kong Budgetary Authority (HKMA) by Thursday (Sep 22) raised its lauge rate charged out of your overnight discount time frame by 75 e-mail points to 3. five per cent, hours after the US Federalista Reserve delivered a rate hike of the same margin . HSBCContinue Reading
Fed officials have for months stuck to the mantra that they will only ease up on their hawkish drive when inflation comes down and remains subdued. This has led many to warn that rates are unlikely to come down anytime soon, possibly as late as 2024, with a recession moreContinue Reading
SHANGHAI IN CHINA: A top European market group warned on Wednesday (Sep 21) that firms had been losing confidence within China and that its standing as an expenditure destination was being eroded, citing its “inflexible and inconsistently implemented” COVID-19 policy being a key factor. The European Chamber of Commerce releasedContinue Reading
China’s growth prediction for 2022 has been reduced to three or more. 3 per cent from 5 per cent, because Beijing pursues the zero-COVID strategy which has devastated the tour’s second-largest economy. Chinese authorities are under pressure in order to curb even the smallest virus outbreaks quickly, ahead of aContinue Reading
BANGKOK: Asian tourists are only expected to resume international travel at pre-pandemic levels gradually, by 2024, the new chief executive of online travel agency Agoda said late on Monday (Sep 19). The Asia-focused company expects tourists from Asian countries, excluding China, will take about six months after respective COVID-19 restrictionsContinue Reading
BEIJING :China’s commercial hub of Shanghai on Tuesday (Sep 20) launched eight infrastructure projects with total investment of 1.8 trillion yuan (US$257 billion), state media said. The projects involve the development of new energy and securing people’s livelihoods, including urban transit, railways and housing improvement, the Shanghai Observer said. SpecificContinue Reading
TOKYO: Japan’s core consumer inflation quickened to 2 . 8 per cent in August to hit the fastest annual pace in nearly 8 years, data demonstrated on Tuesday (Sep 20), as pressures from higher organic material costs and a weak yen broadened. While core consumer inflation has exceeded the centralContinue Reading
BEIJING: Two months since many Chinese homeowners stopped repaying mortgage loans to protest stalled construction on their properties, a lack of progress in more sites today threatens to intensify the boycott, regardless of assurances from authorities. The particular mortgage protest became a rare act associated with public disobedience within China,Continue Reading
Recovery of the industry is on track, although Asian countries Pacific is lagging compared to other major regions.Continue Reading
HONG KONG: Developer China Vanke’s property providers arm has launched Hong Kong’s biggest initial public offering (IPO) of 2022, aiming to raise up to US$783. 5 million in a deal which will be a key test meant for investor appetite. The subsidiary, Onewo Space-Tech Support, has set a cost rangeContinue Reading