SINGAPORE – The World Bank has slashed its 2022 growth projection for China to 2.8 per cent compared with its forecast of 5 per cent …
World Bank slashes East Asia 2022 growth outlook, citing China slowdown
MANILA – Economic growth in East Asia and the Pacific will weaken sharply in 2022 due to China’s slowdown, but the pace of expansion will …
Goldman slashes China’s 2023 growth forecast with Covid-zero strategy likely to stay
HONG KONG – Goldman Sachs cut its 2023 economic growth forecast for China sharply, predicting Beijing will stick to its stringent Covid-zero policies through at …
ADB cuts Singapore, Asia growth forecasts as China lockdowns bite
MANILA – The Asian Development Bank (ADB) on Wednesday cut its 2022 growth forecast for developing Asia, with crippling Covid-19 lockdowns in China, conflict in …
S’pore retail sales up 13.7% in July as growth slows amid higher inflation
SINGAPORE – Takings at the till in Singapore continued to grow at a slower pace in July as inflation touched new highs, but analysts expect …
China’s growth prospects weaken as economists cut 2023 forecasts
HONG KONG (BLOOMBERG) – Economists are turning more bearish about China’s economy, downgrading their growth forecasts further for 2022 and seeing lingering risks into next …
South Korea tempers inflation fight with smaller rate hike amid economic concerns
SEOUL (BLOOMBERG) – The Bank of Korea (BOK) raised its key interest rate by a quarter-percentage point on Thursday (Aug 25), returning to its usual …
Chip sales set to cool further as global recession fears mount
SEOUL (BLOOMBERG) – Chip sales are set to cool more than previously expected as the world economy struggles under the weight of rapid interest rate …
China banks inflating their loan numbers as demand sinks
BEIJING (BLOOMBERG) – Chinese banks are employing unusual practices to inflate their loan volumes as they struggle to meet government demands to pump more credit …
Zoom cuts annual forecast as revenue growth hits record low
BENGALURU (REUTERS) – Zoom Video Communications on Monday (Aug 22) cut its annual profit and revenue forecasts as demand for the video-conferencing platform cools off …
Specialist facility builder Exyte eyes growth in Singapore
SINGAPORE – Special facilities builder Exyte is seeing strong growth opportunities for its business in South-east Asian markets like Singapore and Malaysia. Dr Wolfgang Buchele, …
Mubadala-backed UAE firm sets up $13.8 billion fund for tech deals
DUBAI (BLOOMBERG) – Abu Dhabi-based artificial intelligence firm G42, which counts Mubadala Investment and Silver Lake as its backers, is setting up a US$10 billion …
SGX second-half profit up 13.2% to $232.7m amid record full-year revenue
SINGAPORE (THE BUSINESS TIMES, REUTERS) – The Singapore Exchange (SGX) posted a 13.2 per cent rise in second-half net profit to $232.7 million amid record …
Goldman, Nomura cut China GDP forecasts as outlook darkens
BEIJING (BLOOMBERG) – Goldman Sachs Group and Nomura Holdings have downgraded their forecasts for China’s economic growth further, with a power supply crunch adding more …
Singapore non-oil exports grow at slower pace of 7% in July
SINGAPORE- Singapore’s key exports saw slower growth last month as shipments of non-electronic products decelerated. Non-domestic oil exports (Nodx) expanded 7 per cent year on …
China needs more stimulus to boost growth, PBOC paper says
BEIJING (BLOOMBERG) – China needs to roll out more stimulus to boost economic growth as the recovery is not solid and its momentum shows signs …
Wall Street climbs, adding to recent gains as megacaps rise
NEW YORK (REUTERS) – US stocks rose on Monday (Aug 15) with megacap growth shares, extending the market’s recent rally amid investor optimism the Federal …
China surprises with rate cut as July data shows ‘alarming’ slowdown
BEIJING (BLOOMBERG) – China’s central bank has unexpectedly cut its key interest rates as it ramps up support for an economy weighed by Covid-19 lockdowns and …
Apple expects to sustain iPhone sales in 2022 as global market slows
TAIPEI (BLOOMBERG) – Apple has asked suppliers to build at least as many of its next-generation iPhones this year as in 2021, counting on an …
Malaysia’s economy jumps 8.9% in Q2 but slower growth expected
KUALA LUMPUR (REUTERS) – Malaysia’s economy grew at its fastest annual pace in a year in the second quarter, boosted by expansion in domestic demand and …