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 affluent clientele and dwindling competition to weather a global electronics downturn. The technology giant is telling its assemblers to make 90 million of its newest devices, on a par with […]
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 resilient exports, but a slowdown in global growth is expected to pose a risk to the outlook for the rest of 2022. Gross domestic product (GDP) in April-June surged 8.9 […]
BEIJING (BLOOMBERG) – Several Chinese provinces pledged to meet their growth goals for the year, even as top leaders downplayed the national target of “around 5.5 per cent” after repeated Covid-19 outbreaks and a property market slump. At least 10 local governments explicitly said they will strive to hit their gross domestic product targets, and […]
SINGAPORE – The Government has narrowed its economic growth forecast range for 2022 in tandem with a worsening outlook for the global economy and stubbornly high inflation. The Ministry of Trade and Industry (MTI) narrowed its range for Singapore’s gross domestic product (GDP) growth this year to 3 to 4 per cent, from an earlier […]
HONG KONG, Aug 10, 2022 – (ACN Newswire via SEAPRWire.com) – Global leader in cordless Professional Tools, DIY Tools, and Outdoor Power Equipment, Techtronic Industries Co. Ltd. (“TTI” or the “Group”) (stock code: 669, ADR symbol: TTNDY) is pleased to announce its results for the six months ended June 30, 2022. The Group delivered strong […]
MANILA (BLOOMBERG) – The Philippines’ economic expansion was slower-than-expected in the second quarter as the fastest inflation in almost four years hurt consumption, which is a key growth driver. Gross domestic product grew 7.4 per cent in the three months through June from a year ago, the Philippine Statistics Authority said on Tuesday (Aug 9), […]
SINGAPORE – Takings at the till in Singapore grew at a slower pace in June as inflation that month touched its highest levels since 2008. Retail sales rose 14.8 per cent year on year, cooling from the 17.8 per cent growth in May, according to figures released by the Department of Statistics (SingStat) on Friday […]
JAKARTA (REUTERS) – Indonesia’s economic growth accelerated in the April to June quarter amid an export boom driven by rising commodity prices, official data showed on Friday (Aug 5), but monetary tightening, rising inflation and a global recession risk threaten the outlook. Second-quarter gross domestic product (GDP) was up 5.44 per cent from a year […]
BEIJING (BLOOMBERG) – China’s top leaders told government officials last week that this year’s economic growth target of “around 5.5 per cent” should serve as guidance rather than a hard target that must be hit, according to people familiar with the matter. Leaders held meetings with ministerial- and provincial-level officials last week, during which they […]
SINGAPORE – The International Monetary Fund (IMF) recently cut its global economic growth outlook again, warning of more downside ahead. Pessimism is clearly running high in much of the world. Indeed, the probability of a deeper economic contraction has risen. The sharp cut in Russian gas exports to Europe, a hawkish Federal Reserve and China’s […]
SINGAPORE – American video communications firm Zoom will continue to hire and expand its presence in Singapore even as many other global technology firms have scaled back recruitment and spending in recent months. Most positions will be for sales, marketing and engineering, said its United States-based head of international, Mr Abe Smith.
BENGALURU (REUTERS) – Microsoft on Tuesday (July 26) forecast revenue this fiscal year would grow by double digits, driven by demand for cloud computing services and sending shares up 5 per cent. The strong outlook shows Microsoft continues to benefit from the pandemic-led shift to hybrid work models and comes at a time when investors […]
SINGAPORE – The International Monetary Fund (IMF) has cut its economic growth forecast for Singapore, in line with its recent warning that it will downgrade its estimates for the global economy later this month. The IMF said Singapore’s economy will grow at 3.7 per cent this year, in a country report issued on Friday (July 22) after […]
TOKYO (BLOOMBERG) – The Bank of Japan (BOJ) left its rock-bottom interest rates unchanged on Thursday (July 21) as it put concern over the economy ahead of any potential implications for the yen for now, further cementing its outlier stance compared with inflation-fighting central banks overseas. Supporting its view that the recovering economy needs continued […]
HONG KONG (BLOOMBERG) – The Asian Development Bank (ADB) has cut its forecast for gross domestic product growth in developing Asia this year as China’s Covid-19-zero approach to containing the virus creates ripple effects on regional supply chains and economic development. The bank expects the region to grow 4.6 per cent this year compared with an […]
SINGAPORE – A significant economic slowdown is not just a risk anymore; policymakers in Singapore and elsewhere are hoping it does in fact occur. Such a stance sounds improbable but the Monetary Authority of Singapore (MAS) said that the most preferable – and likely – scenario is a mild and short-lived global technical recession: Two […]
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 […]
SINGAPORE – Singapore’s key exports posted slower growth last month, after rising by a revised 12 per cent in May, according to data released by Enterprise Singapore (EnterpriseSG) on Monday (July 18). Non-oil domestic exports (Nodx) rose 9 per cent year on year in June, expanding for the 19th straight month. The figure beat the […]
Retail and Tourism roles drive high demand: Monster Employment Index Overall hiring improved by 31 per cent on a year-on-year basis Retail led with triple-digit growth of 321% annually in the Malaysian job market Demand for professionals across Hospitality and Travel roles surged as tourism bounces back in the country KUALA LUMPUR, MALAYSIA, July 15, […]
SINGAPORE – The Singapore economy grew slower than expected in the second quarter this year, indicating weakening global and domestic demand for goods and service amid surging inflation. Meanwhile, the Monetary Authority of Singapore (MAS) further tightened its policy stance, making room for a stronger Singapore dollar to douse the impact of rising global prices. The […]