Asia Business

The uncertainty kicked up by Donald Trump’s stop-start tariff rollout will undoubtedly hit growth, the president of the World Bank said Wednesday, ahead of next week’s semi-annual meeting of global financial leaders in Washington.”Uncertainty and volatility are undoubtedly contributing to a more cautious economic and business environment,” Ajay Banga told reporters, alluding to the market …

Global uncertainty will ‘certainly’ hit growth: World Bank president Read More »

Prime Minister Anthony Albanese promised on Wednesday to defend Australia’s interests in its trade tangle with the United States, in a televised debate ahead of May 3 national elections.US President Donald Trump’s 10 percent tariffs on close ally Australia have loomed large in the duel between 62-year-old Albanese and his hard-nosed conservative challenger, former policeman …

Australian PM vows not to bow to Trump on national interest Read More »

China told Washington on Wednesday to “stop threatening and blackmailing” after US President Donald Trump said it was up to Beijing to come to the negotiating table to discuss ending their trade war.Trump has slapped new tariffs on friend and foe alike but has reserved his heaviest blows for China, with new levies of up …

China tells Trump to ‘stop threatening and blackmailing’ Read More »

Forecast-beating growth in China’s first quarter may have offered Beijing’s economic planners some much needed good news — but analysts warn they should strap in for tariff-induced woes further down the line.The National Bureau of Statistics said Wednesday the world’s number-two economy expanded 5.4 percent on-year in January-March, helped by a surge in exports.However, observers …

China’s forecast-beating growth belies storm clouds ahead: analysts Read More »

Dutch tech giant ASML warned on Wednesday of growing economic uncertainty due to US tariffs but the company kept its 2025 sales forecast intact.Shares in ASML, which makes cutting-edge machines for the chip sector, plunged at the market open, giving up around seven percent as the closely watched net bookings figures came in below expectations.”Our …

ASML CEO sees growing economic ‘uncertainty’ from tariffs Read More »

Worldwide consumption of wine fell in 2024 to its lowest level in more than 60 years, the main trade body said Tuesday, raising concerns about new risks from US tariffs.The International Organisation of Vine and Wine (OIV) said that 2024 sales fell 3.3 percent from the previous year to 214.2 million hectolitres.The OIV, whose report …

Wine consumption falls heavily into the red Read More »

When Indonesian executive Heret Frasthio takes his antique 1957 VL Vespa for a ride, its white paint peeling off, the usual fumes and hum of the free-spirited scooters cannot be seen or heard.The two-wheeler is just one of the vintage models converted by his company as it tries to turn a love for the Italian …

Vespa love affair: Indonesians turn vintage scooters electric Read More »

Once a collection of sleepy fishing villages, vast Chinese investments have transformed Cambodia’s Sihanoukville into a half-finished gambling resort with signs everywhere in Mandarin.China is the largest investor and trading partner in Cambodia, much of it directed towards the Gulf of Thailand port, a key strategic location in the Belt and Road Initiative (BRI) championed …

Cambodia’s Chinese casino city bets big on Beijing Read More »

China said Wednesday its economy topped forecasts in the first quarter, as exporters rushed to shift goods ahead of swingeing US tariffs, but warned it faced “certain pressures” from Donald Trump’s trade blitz.Beijing and Washington are locked in a fast-moving, high-stakes game of brinkmanship since the US president launched a global tariff assault that has …

China’s economy beats forecasts ahead of Trump’s ‘Liberation Day’ Read More »

US aviation giant Boeing, fresh off a crippling labor dispute and quality control crisis, has now found itself drawn into the escalating trade conflict between Washington and Beijing.The largest US exporter, Boeing has been caught in the crossfire after President Donald Trump imposed new tariffs of up to 145 percent on many Chinese products, sparking …

Boeing faces fresh crisis with US-China trade war Read More »