Economy

People shop at an open air vegetable and fruit market in Ahmedabad, India. © Reuters

Indian economy

Consumer sentiment stabilizes after third rate cut

NEW DELHI -- Consumer sentiment in India, which dropped marginally in June, seems to have stabilized. The MNI India Consumer Sentiment Indicator stood at 119.5 last month against 119.6 in May. "It is encouraging to see that consumer sentiment has...

  • Greek referendum

    Swiss bank executive does not fear fallout from crisis

    BANGKOK -- As Greeks head to the polls on Sunday, the international community will nervously await their decision. If the majority says "no" to a referendum, the country could be pushed deeper into economic trouble and closer to an exit from the euro...

  • Smartphones in Indonesia

    New domestic production policy irking Apple, others

    Indonesia is again moving toward introducing a policy to benefit homegrown industries -- this time for producers of parts and materials for smartphones. The government is looking to require makers of the devices sold in the country to use local parts...

  • Illegal fishing crackdown

    New rules could bring shortages, higher prices for Thai seafood

    BANGKOK -- Thousands of fishing boats are stuck in port in Thailand, after new rules aimed at combating illegal fishing took effect July 1, leading to concerns about tighter seafood supplies and higher prices. Many seafood markets, including the ...

  • On the hook

    Default fears grow as Greek samurai bonds come due

    TOKYO -- Yen-denominated Greek bonds are coming up for redemption, and nonpayment could push credit rating agencies to formally label Greece as in default. Bonds worth more than 11 billion yen ($89.6 million) are up for redemption July 14. The sa...

  • Indonesia's economy

    Sluggish growth raises questions about Widodo strategy

    JAKARTA -- Indonesian President Joko Widodo told a group of prominent economists Monday he was prepared to change his cabinet team to rebuild confidence in the country's stuttering economy and meet growing pressure for change. The World Bank and ...

  • Indonesia's economy

    Lower growth target still seen as optimistic

    JAKARTA -- The Indonesian government on Thursday lowered its 2015 economic growth estimate by 0.5 percentage points to 5.2%, but economists say the new target is still optimistic. In a press conference, finance minister Bambang Brodjonegoro said ...

  • BOJ Watch

    Did business sentiment in Japan really jump?

    TOKYO -- The Bank of Japan's latest Tankan quarterly survey, released Wednesday, might not accurately reflect where business sentiment in Japan really is. The survey covers more than 10,000 companies, and the numbers are important in understandin...

  • Weak U.S. employment report dampens September rate hike hopes

    WASHINGTON (Reuters) -- U.S. job growth slowed in June and Americans left the labor force in droves, tempering expectations for a September interest rate hike from the Federal Reserve. Nonfarm payrolls increased 223,000 last month, with construct...

  • Tourism, retailing reeling

    Capital controls seen pushing Greece back into contraction

    PARIS/ATHENS -- The Greek economy is increasingly expected to start shrinking again in 2015, with capital controls that were imposed to limit bank runs likely to deal a blow to such key industries as tourism and retail. Greece's hidden debt was e...

  • Nikkei economist survey

    China's growth set to slow in 2015 as easing effects disappoint

    HONG KONG -- China-based economists see gross domestic product growth continuing to weaken for the time being as monetary easing measures bring less benefit to the economy than anticipated. The average forecast of economists surveyed by Nikkei In...

  • Economists responding to the survey

    Arjen van Dijkhuizen, Asia ABN AMRO Bank; Liu Li-Gang, ANZ; Richard Jerram, Bank of Singapore; Yang Zhi, Bank of Tokyo-Mitsubishi UFJ; Xia Le, BBVA; Li Miaoxian, Bocom International; Xie Yaxuan, China Merchants Securities; Liao Qun, Citic Bank Intern...

  • JCER estimate

    Japan GDP shrinks 0.2% in May

    TOKYO -- Gross domestic product in Japan in May contracted 0.2% in real terms from the previous month, the Japan Center for Economic Research said Wednesday. The second consecutive month-to-month contraction was blamed on a sharp 5.2% decrease i...

  • Monetary policy

    Is quantitative easing putting the Bank of Japan's solvency at risk?

    TOKYO -- The Bank of Japan has been slurping up huge quantities of Japanese government bonds through quantitative easing. Is the central bank making a profit from these JGB purchases, or is it losing money? The success of the easing policy depends gr...

  • ECB keeps Greece on tight funding leash ahead of referendum

    FRANKFURT (Reuters) -- Euro zone central bank chiefs kept their existing cap on a funding lifeline to Greece in place on Wednesday, the ECB said, a move that keeps pressure on Greece as its lenders run out of cash. The Governing Council of decisi...

  • BOJ survey shows Japan firms trimming three-year price growth projections

    TOKYO (Dow Jones) -- Japanese businesses trimmed their three-year inflation projections in the three months to June, a Bank of Japan survey showed Thursday, underlining continued skepticism over the central bank's ability to achieve 2% price increase...

  • A fresh face in the room

    Bank of Japan's new board member backs 2% inflation target

    TOKYO -- The new board member of Japan's central bank, who joined Wednesday, struck a hard line on achieving the stated inflation goal during his inaugural news conference. "It is crucial that we reach a stable consumer price inflation target of ...

  • Asian slowdown

    South Korean exports still in the doldrums

    SEOUL -- South Korean exports are slumping, with official data showing a 5% drop to $269 billion for the January-June half on cheaper oil, faltering Chinese growth and the strengthening won. Export prices declined, particularly for such key petro...

  • Upswing in business sentiment

    Corporate Japan ready to pump more money into factories

    TOKYO -- Many Japanese companies are feeling the effects of a domestic economic recovery and are eager to spend on capital investment, according to the Bank of Japan's latest Tankan quarterly business survey. The survey for June, released Wednesd...

  • Further easing sought

    China's June PMI flat at 50.2

    HONG KONG -- China's manufacturing activity remained flat in June from the previous month, indicating that the country's economy still appears to be struggling to pick up the pace. The official Purchasing Managers' Index stood at 50.2, unchanged ...