SEOUL: South Korea said it will tighten government spending in order to slow an increase in its debt and keep the particular debt-to-GDP ratio from mid-50 per cent by 2027, following many years of massive stimulus measures that have weakened the country’s fiscal situation. Its finance ministry said that theContinue Reading
COLOMBO: The Central Bank of Sri Lanka (CBSL) raised its key rates by a full portion point on Thursday night (Jul 7) in order to tackle record higher domestic inflation and also to contain any build-up of adverse pumpiing expectations. The Standing Financing Facility rate was raised to 15. 5Continue Reading
The Malaysian standard palm oil futures fell 22 per cent in June and have slumped more than 20 percent so far in July, a result of Indonesia increasing exports and requirement of Malaysian creation increasing, while worldwide demand is slow amid recession worries. Veri did not give a time periodContinue Reading
JAKARTA: Indonesia has elevated the palm oil foreign trade quota in a bid to cut soaring inventories of the edible essential oil, a Trade Ministry official said on Tuesday (Jul 5), as a council associate in a plantation area warned farmers faced an “emergency” due to tumbling prices. The tour’sContinue Reading
SEOUL: South Korea plans to increase the contribution of nuclear power in the state’s energy mix in order to 30 per cent or more by 2030 through 27 per cent in 2021, the industry ministry said on Wednesday (Jul 5), pledging to resume stalled construction work on two reactors. SouthContinue Reading
BANGKOK: Thailand’s headline pumpiing outstripped forecasts to hit a near 14-year high in June, reinforcing expectations of a price hike as early as the following month, and with the commerce ministry warning price pressures will extend to the third quarter. The subject consumer price index (CPI) rose seven. 66 perContinue Reading
BANGKOK: Thailand’s hotels, businesses plus private hospitals should avoid offering big discount rates to lure travelers and focus instead on raising the particular country’s value being a premium travel location, government ministers said on Monday (Jul 4). Thailand has obtained about 2 million foreign visitors within the first six monthsContinue Reading
TOKYO: A fire caused Japan’s biggest power electrical generator JERA to turn off a 500 megawatt (MW) unit in its Chiba heat power station near Tokyo on Saturday (Jul 2), increasing fears of an electrical power crunch as an extented heatwave keeps requirement at high ranges. The fire broke awayContinue Reading
SEOUL: Southern Korea said on Thursday (Jun 30) that its Minimal Wage Commission had agreed on an minimal hourly wage raise of 5 % to 9, 620 won (US$7. 39) for next year, in the first such decision since President Yoon Suk-yeol took workplace in May. The pay hike willContinue Reading
HONG KONG: Most Markets from the asian continent reversed early loss on Tuesday (Jun 28) and oil continued its current rally after The far east slashed the quarantine time for website visitors, fuelling hope for a boost to the embattled economy. The news came as Beijing and Shanghai seemed toContinue Reading