Economy

Ample forex reserve, strong economy to help Malaysia's ringgit stabilize in long-term

KUALA LUMPUR (NewsRise) - Malaysia should build ample foreign exchange reserves and keep economic fundamentals strong to help stabilize the ringgit in the long-term as the currency remains vulnerable to perceived misconception about the country's exc...

  • Interview

    BOJ no longer playing main role in Japan's economic policy

    TOKYO -- The Bank of Japan has reviewed the monetary easing policy it has pursued since 2013 and changed its policy framework from emphasizing the quantity of monetary base to emphasizing interest rates. The Nikkei asked University of Tokyo Prof. Kaz...

  • Developing Asia to stay on course: ADB

    MANILA -- The Asian Development Bank says its 45 Developing Asia members still harbor strong growth prospects, even as global economic challenges hound the region, thanks in part to the "surprisingly fast growth" still seen by China.

  • Remittances keep Nepal's shaky economy afloat

    KATHMANDU -- Nepal is ranked as one of the world's least-developed nations. And with recovery still underway from last year's earthquakes and a trade dispute with India, remittances from the millions of Nepalis abroad are a major source of funds.

  • Emerging Asia to grow by 5.7% in 2016: ADB report

    MANILA -- Asia's emerging economies will likely expand by 5.7% this year thanks mainly to strong growth in China and India, the latest report by the Asian Development Bank said on Tuesday.In its July estimate, the bank projected that the 45 countries...

  • Japan looks abroad, cautiously, for labor shortage solution

    TOKYO -- A Japanese government committee on labor issues will weigh allowing unskilled foreign workers in understaffed sectors such as construction and nursing care when it meets Tuesday -- a sure controversy in a country with notoriously tight emplo...

  • Sinking JGB yields testing BOJ's tolerance level

    TOKYO -- Long-term yields in the Japanese bond market marched deeper into negative territory Monday, almost daring the Bank of Japan to make good on its pledge to keep them around zero.Newly issued 10-year Japanese government bonds, the benchmark for...

  • Japan's Kuroda pledges to cut rates further if needed

    TOKYO -- Future expansions of monetary easing by the Bank of Japan will focus on taking negative rates deeper into minus territory and lowering the long-term interest rate operating target, BOJ Gov. Haruhiko Kuroda said in a speech Monday. The stat...

  • India's import tax cut to spur demand, support palm oil price

    KUALA LUMPUR (NewsRise) -- India's surprise move to cut import tax on palm oil is likely to drive demand and continue to support price of the commodity ahead of its peak output season, analysts said.Price of the edible oil has rallied more-than 30% s...

  • Indonesia power plant initiative hits snag

    JAKARTA -- Dark clouds are already looming over the centerpiece of a gigantic infrastructure improvement initiative announced by the Indonesian government a year and a half ago.Plans to build power generation plants with a combined output of 35,000 m...

  • Worker transfers slow ASEAN's economic unification

    SINGAPORE -- Deliberations on the economic unification of the Association of Southeast Asian Nations continue to drag on as many member states have begun to hit a growth wall and become skeptical about the effects of such a move.The transfer of worke...

  • Japan household assets down for 2nd straight quarter after Brexit vote

    TOKYO (Kyodo) -- Financial assets held by Japanese households fell 1.7 percent from a year earlier to 1,746 trillion yen ($17.30 trillion) at the end of June, down for the second straight quarter, Bank of Japan data showed Monday. The decline came as...

  • Thailand's '90s crisis holds lessons for recovering Vietnam

    TOKYO -- Vietnam's economy has rebounded handsomely from a recent crisis thanks to brisk South Korean investment, echoing a similar fall and rise by Thailand decades ago.Lumens, a South Korean maker of light-emitting diodes, has kicked off production...

  • East Timor's development dilemma

    GLENO, East Timor -- As we drive along a potholed road leading out of this little town into the cool highlands of East Timor, Peter Dougan stops to look at coffee berries laid out to dry on tarpaulins by local growers.Dougan, an Australian agricultur...

  • Emerging markets catch monetary easing bug

    TOKYO -- Benchmark interest rates have come down one after another in emerging economies as the likelihood of capital flight has eased following the decision Wednesday in the U.S. to keep interest rates unchanged.The Indonesian central bank lowered i...

  • 16 pregnant women infected with Zika in Singapore

    SINGAPORE (Kyodo) -- A total of 16 pregnant women in Singapore are infected with the mosquito-borne Zika virus, local media reported Saturday.The Ministry of Health is exploring plans to set up a national surveillance program to monitor the developme...

  • Negative rates, tourists boost Japan land prices

    TOKYO -- Japan's commercial land prices are rising this year for the first time in nine years, helped by growing numbers of foreign tourists and the Bank of Japan's negative interest rate policy.Prices are increasing fast, especially in large regiona...

  • Southeast Asia racing to cut taxes on businesses

    BANGKOK -- The era of 30% corporate tax rates is coming to an end across Southeast Asia as countries slash rates in a race to become the most attractive location for foreign companies.

  • Sri Lanka's malaria milestone

    EKALA, Sri Lanka -- On a weekday afternoon, a public health team attached to a mobile malaria clinic makes its way in a vehicle down a narrow street in Ekala, a congested factory town of light and heavy industry north of Colombo, the Sri Lankan capit...

  • ASEAN GDP to exceed Japan's by 2030: IHS Markit economist

    SINGAPORE -- The combined gross domestic product of the Association of Southeast Asian Nations is expected to reach $8 trillion by 2030, higher than that of Japan, an IHS Markit economist said at a seminar here Thursday.Rajiv Biswas, an IHS Markit se...