Page 2 - Asia Economy

IMF issues warning of significant downside risks for Pakistan's economy

This uncertainty, it warns, could have profound effects on policymaking, particularly given the high cost of living and other political complexities

China's exports and imports return to growth, signalling demand recovery

Shipments from China grew 1.5% year-on-year last month

Asia stocks slip, dollar up as policymakers give mixed signals on rate cuts

Crude oil wallowed near two-month lows amid signs of easing supply pressure and continued hopes for a Middle East ceasefire

Japan describes US President Biden's 'xenophobia' comment as regrettable

Last week Biden said "xenophobia" in economies from China to Japan and India was hobbling their growth, while arguing at a Washington fund-raising event that migration has been good for the US

Yen eases despite intervention threat, as RBA keeps interest rates steady

At the RBA's last meeting in mid-March, policymakers watered down their tightening bias, although Bullock declined to say whether policy has shifted to neutral

Yen surges against US dollar on suspected intervention by Japan authorities

The difficulty in arresting the yen's slide has been made clear by the speed at which the currency has reversed direction after its spike

ADB's numbers on climate adaptation finance in Asia 'overstated': Oxfam

The Asian Development Bank's actual finance numbers for its largest climate adaptation projects in countries in Asia, including India, are "overstated" and could be off by 44 per cent, USD 0.9 billion instead of the reported USD 1.7 billion, Oxfam claimed in a report. The ADB, however, reaffirmed its figures, standing by its methodology and commitment to deliver USD 100 billion in climate financing by 2030, with USD 34 billion earmarked for adaptation and resilience. "We stand by our climate adaptation finance numbers" and the bank's determination is to fulfil its climate financing goals and its recent increase in climate finance commitments in 2023, a spokesperson of the Asian Development Bank (ADB) said, responding to the report released by Oxfam, a non-profit. The report "Unaccountable Adaptation: The Asian Development Bank's overstated claims on climate adaptation finance" focused on ADB's largest climate adaptation projects in Asia and the Pacific, examining 15 major initiative

Bank of Japan upbeat on consumption, rising service prices, pay hikes

The BOJ ended eight years of negative rates and other remnants of its unorthodox policy last month

Stocks in Asia inch higher, Yen wobbles after volatile start to week

China stocks were mixed in early trading with the blue-chip index easing 0.07%, while Hong Kong's Hang Seng index was up 0.5%

Asia stocks rise, yen slips as BOJ maintains accommodative monetary policy

Nasdaq futures advanced more than 1%, while S&P 500 futures rose 0.85%

Pakistan's benchmark share index trades at record high, breaches 72,000

The index has surged 75.5% over the past year and is up 11.5% year-to-date

Asia world's most 'disaster hit' region with rising climate crisis: Report

WMO climate report reveals record high temperatures in Asian countries with flooding and heat waves are major issues in India

Asia world's most disaster-prone region in 2023, shows WMO report

Asia continued to bear the brunt of weather, climate and water-related hazards in 2023, making it the world's most disaster-hit region, according to a new report by the World Meteorological Organization. Floods and storms led to the highest number of reported casualties and economic losses, and the impact of heat waves intensified, said the World Meteorological Organization's (WMO) State of the Climate in Asia - 2023 report. According to the report, sea-surface temperatures in the northwest Pacific Ocean hit record highs, and even the Arctic Ocean experienced a marine heat wave. "Many countries in the region experienced their hottest year on record in 2023, along with a barrage of extreme conditions, from droughts and heat waves to floods and storms. Climate change exacerbated the frequency and severity of such events, profoundly impacting societies, economies, and, most importantly, human lives and the environment that we live in," said WMO Secretary-General Celeste Saulo. Citing

China solar industry faces challenges, but rock-bottom prices to persist

Overcapacity in China's solar industry is emblematic of the challenges facing the world's second-biggest economy

Japan's economy recovers to full capacity, keeps rate hike prospects alive

The BOJ ended eight years of negative interest rates and other remnants of its unorthodox policy last month

Misery for Pak public as petrol price likely to rise by PKR 10 per litre

According to industry officials, the price of petrol is poised to inflate by nearly PKR 10 per litre due to a surge in international crude prices

71 Indian companies on FT's Asia Pacific top 500 high-growth list

Indian companies top the list, with Zypp Electric at number one and BigHaat at number two

Bank of Japan ends its negative interest rate policy, first hike in 17 yrs

Japan's central bank raised its benchmark interest rate Tuesday for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy. The Bank of Japan's short-term rate was raised to a range of 0 to 0.1% from minus 0.1% at a policy meeting that confirmed expectations of a shift away from ultra-lax monetary policy. The interest rate hike was the first since February 2007. The BOJ had remained cautious about normalizing monetary policy, or ending its negative benchmark borrowing rate, even after data showed inflation at about its target rate of 2% in recent months.

Mark Zuckerberg's Asia tour to range from AI to Ambani wedding party

On Wednesday, Zuckerberg plans to travel to Seoul to meet with partners, the spokesperson said, declining to elaborate further

Pak now an 'authoritarian regime', only Asian country in category: Report

Out of the 28 countries in the region that are included in the index, 15 recorded a decline in their score, and only eight registered an improvement