PARIS (Reuters) -French shipping group CMA CGM will increase its container shipping rates from Asia to the Mediterranean region by up to 100% as of Jan. 15 compared to Jan. 1, it said in a notice posted on its website on Tuesday. As of Jan. 15 – which refers to the date of loading in …
France’s CMA CGM hikes shipping rates between Asia and Mediterranean Read More »
HONG KONG (Reuters) – China’s property market continued to consolidate in 2023 with state-affiliated firms dominating the home sales and land acquisition market, private surveys showed, as more private firms got embroiled in the sector’s deepening debt crisis. The top six home sellers last year were all state-owned or state-backed developers, with Poly Developments, China …
China’s state-owned developers dominate sales, land markets in 2023 – surveys Read More »
BANGKOK (Reuters) -Thailand’s cabinet has approved a tax cut on alcoholic beverages and entertainment venues to boost tourism, a government spokesperson said on Tuesday. Taxes on wine will be reduced from 10% to 5% and on spirits from 10% to zero, Chai Wacharonke told reporters, adding that excise tax on entertainment venues will be halved …
Thailand approves tax cuts on booze and night clubs to boost tourism Read More »
By Stefanno Sulaiman and Gayatri Suroyo JAKARTA (Reuters) – Indonesia has reduced its 2023 budget deficit significantly to 347.6 trillion rupiah ($22.47 billion), equivalent to 1.65% of gross domestic product (GDP), based on unaudited figures, its finance minister said on Tuesday The unaudited deficit was far smaller than the government’s original 2023 fiscal deficit plan …
Indonesia books 2023 fiscal deficit of 1.65%, smaller than plan Read More »
BEIJING (Reuters) – China’s average daily home sales during the three-day New Year holiday in 40 cities, based on floor area, fell 26% compared with the same period last year, a survey showed on Tuesday. Sales fell the most in smaller cities, dropping 50% during the holiday, according to data from the China Index Academy, …
China’s home sales during New Year holiday fall 26% compared with 2023 Read More »
HANOI (Reuters) – Vietnam’s central bank has set a credit growth cap of 15% for the local banking system for this year, it said on Tuesday. The cap can be adjusted depending on the situation as it develops, the State Bank of Vietnam (SBV) said in a statement. Vietnam’s economic growth moves in tandem with …
Vietnam central bank sets 2024 credit growth cap for banking system at 15% Read More »
By Stefanno Sulaiman and Gayatri Suroyo JAKARTA (Reuters) – Indonesia’s annual inflation rate cooled more than expected in December to 2.61%, within the central bank’s target range, official data showed on Tuesday. The rate was below November’s 2.86% and expectations in a Reuters poll for a December reading of 2.72%. The central bank’s inflation target …
Indonesia’s Dec inflation eases more than expected Read More »
SYDNEY (Reuters) – Asia’s factory activity weakened in December, portending a shaky start for the region’s manufacturing powerhouses in 2024 as China’s patchy economic recovery impeded a broader revival in demand. A range of purchasing managers’ indexes (PMIs) published by S&P Global on Tuesday showed factory activity continuing to decline in most Asian economies at …
Asia’s factories end 2023 on soft note amid fragile China recovery Read More »
By Yena Park, Cynthia Kim and Jihoon Lee SEOUL (Reuters) -State Street Bank & Trust Company of Hong Kong made the first dollar/won trade after South Korean authorities opened the interbank market to foreign financial institutions under a pilot programme on Tuesday, sources familiar with the deal said. The trade was conducted with Hana Bank, …
State Street makes first foreign dollar/won trade under new plan – sources Read More »
SHANGHAI (Reuters) – China’s yuan eased against the dollar on the first trading day of the year on Tuesday, pressured by rising bets of monetary easing after factory activity reinforced the uneven nature of the recovery in the world’s second-biggest economy. Official data showed that China’s manufacturing activity shrank for a third straight month in …
China’s yuan down on first trading day of 2024, policy easing eyed Read More »
