As crises mount, Europe turns once again to big spending, throws vast sums at energy crunch

BRUSSELS – Nationalisations. Subsidies. Cash handouts. Price caps. Profit taxes. It is back to 20th-century economics in Europe. Governments are resorting to old-school solutions, long dismissed as bad policy, throwing vast amounts of money at the energy crisis engulfing the region to avert a political, social and economic meltdown. The stand-off with Russia over Ukraine is […]

China to publish detailed economic policy steps in early September

BEIJING – China said it will publish detailed steps for newly announced economic policy measures in early September, suggesting an urgency for policymakers to revive the sluggish economy amid a resurgence of Covid-19 and an embattled property sector. The government will lay out detailed plans to implement the 19 new policies it announced last week […]

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 uncertainty to the outlook.  Goldman Sachs lowered its projection for gross domestic product growth to 3 per cent from 3.3 per cent, citing weaker-than-expected July economic data as well as […]

Economic impact of Taiwan flare-up seen as manageable, but risks linger for S’pore and region

SINGAPORE – The economic impact of the geopolitical tensions over Taiwan appears manageable so far but analysts fear there could be some short-term glitches in trade flows. They also said that in the long run, the widening gulf between the world’s two largest economies – China and the United States – will reinforce the ongoing […]

S’pore has to respond to global transitions, seize opportunities: Chan Chun Sing

SINGAPORE – Singapore must entrench itself in the global value chain by developing the capacity to produce what the world needs in times of crisis, as well as being able to attract frontier companies, ranging from vaccine developers to firms in precision engineering. This will ensure that Singapore cannot get easily displaced, said Education Minister Chan […]

China factory activity sees shock contraction on Covid outbreaks

BEIJING (BLOOMBERG) – China’s factory activity unexpectedly contracted in July, reversing earlier economic momentum as sporadic Covid-19 outbreaks weighed on the recovery. The official manufacturing purchasing managers index fell to 49 from 50.2 in June, the National Bureau of Statistics said on Sunday (July 31). Economists had expected a reading of 50.3, according to the […]

Chinese premier says ‘painstaking’ efforts still needed to stabilise economy

BEIJING (REUTERS) – China’s Premier Li Keqiang said on Tuesday (July 19) the recovery in the Chinese economy from a recent bout of weakness is not yet firmly established and “painstaking”efforts are needed to stabilise overall economic performance, according to state media. China will keep macro policies consistent and targeted, and strive for relatively good […]

RI strives to bridge differences in G20 to overcome economic challenges

JAKARTA, Jul 18, 2022 – (ACN Newswire via – The third Finance Ministers and Central Bank Governors (FMCBG) meeting within the framework of Indonesia’s G20 Presidency kicked off in Nusa Dua, Badung, Bali, on Friday (July 15). The 3rd Finance Ministers and Central Bank Governors (FMCBG) Meeting of G20 in Nusa Dua, Badung, Bali, […]

2022 Travel Itinerary Competition: Official Call for Design Submissions to Discover Charm of Sanya Economic Circle

China, Sanya , June 28, 2022 – (SEAPRWire) – Channels for submitting designs for the “2022 Travel Itinerary Competition” were officially opened on June 21, 2022. The event, which was first released online on May 30, 2022, as a prelude to the official launch, was organized by the Sanya Tourism Promotion Board together with tourism bureaus from other cities […]