SINGAPORE – Singapore’s export-reliant bellwether economy is bracing for tough times in 2023 with trade expected to shrink or record no growth amid weakening global demand, tighter liquidity and persistent inflation. Accordingly, many economists foresee a possible technical recession in the first half of next year. Though the Ministry of Trade and Industry (MTI) does […]Continue Reading
Services inflation eased to 3.6 per cent in November from 3.9 per cent the preceding month, mainly on account of a smaller increase in airfares. Electricity and gas inflation fell to 16.7 per cent in November from 19 per cent in October, partly due to the higher base a yearContinue Reading
BANGKOK: Thailand saw 10.9 million arrivals between January and Dec 20 this year, Tourism Authority of Thailand governor, Yuthasak Supasor told an online briefing on Friday (Dec 23). “The top markets were Malaysia, India and Laos,” he said, adding that arrivals could exceed 11.5 million arrivals for the full year.Continue Reading
China will provide its people with domestically-produced Covid booster shots instead of foreign ones, despite the fact that US-made mRNA vaccines have a proven higher protection rate against serious illness and morbidity. The announcement pinpricks earlier speculation that Beijing was preparing to lift its ban on the use of foreign vaccines made by Moderna and […]Continue Reading
SEOUL – While real-life carnage unfolds across Ukraine, the phony war continues predictably on, around and above the Korean peninsula. The actions of recent days may hearten jingoes and depress peaceniks on both sides. On December 14, the US announced that a Space Force command unit had stood up inside US forces based in South […]Continue Reading
Not since the 1970s oil crisis has the West seen such a focus on energy security. Suddenly, in 2022, it became a critical part of the battle for Ukraine. Russian attacks on energy facilities have left millions of Ukrainians without power during a freezing winter. Since it couldn’t force a quick, decisive win onto Ukraine, […]Continue Reading
At the G20 summit in Bali in November, Ukrainian president Volodymyr Zelensky announced a new ten-point plan to end hostilities. He demands nothing less than the withdrawal of Russian troops from all of Ukraine, including Crimea and other areas of the country occupied by the Russians since 2014. And the latest polls show 85% of […]Continue Reading
NEW YORK – The lender of Japan’s December 20 decision to lift the cover on 10-year govt bond yields in order to 0. 5% from 0. 25% appears on the surface like a minor tweak of financial policy. In reality, it’s a hairline split in the biggest dam in world economic markets. Japan may be the world’s number one creditor, […]#@@#@!!Continue Reading
The Asia-Pacific tourism industry was thriving before the Covid-19 pandemic, driven by strong demand from Chinese tourists with increasing disposable incomes. Pre-pandemic, Chinese tourists’ arrival to the Asia-Pacific region was forecast to increase to 150 million by 2020, with an aggregate expenditure of US$230 billion. But this did not materialize due to pandemic-related travel restrictions that […]Continue Reading
India’ s domestically-driven economy and Indonesia’ h commodity-led exports should provide some strength despite a more difficult operating environment characterised by higher global inflation, rising rates of interest and liquidity tightening. Elaine Koh, senior director for Asia-Pacific non-bank financial institutions from Fitch Ratings talks about the prospects meant for India and Indonesia’ s finance and leasing sector in the current economic environment.Continue Reading