Reuters Asia Business

BEIJING (Reuters) – China will aim to stabilize employment and prices to consolidate the foundations of economic recovery, according to a statement published by the monetary policy department at the People’s Bank of China said on Friday. It said China will implement prudent monetary policy and not resort to flood-like stimulus. China’s economy was surprisingly …

China will aim to stabilise employment, prices – PBOC monetary policy department Read More »

MANILA (Reuters) – The Philippine central bank on Friday revised higher its 2022 and 2023 projections for the country’s current account deficits, citing intensifying risks of a global growth slowdown as inflation and interest rates climb. The Bangko Sentral ng Pilipinas (BSP) now expects the current account balance this year to register a deficit of …

Philippines sees wider 2022, 2023 c/a deficits on global risks Read More »

By Farah Master HONG KONG (Reuters) -Macau’s government opened bids on Friday from seven companies, including a wildcard from Malaysian operator Genting, for licenses to operate casinos in the world’s biggest gambling hub, kicking off a closely watched battle for six available slots. Macau’s top officials including the city’s Economy and Finance secretary Lei Wai …

Gambling giant Macau opens bids from seven casinos, Genting a wildcard Read More »

By Andrea Shalal WASHINGTON (Reuters) -Downside risks continue to dominate the global economic outlook and some countries are expected to slip into recession in 2023, but it is too early to say if there will be a widespread global recession, IMF spokesman Gerry Rice said on Thursday. Rice told reporters that high-frequency data pointed to …

IMF sees further global economic slowdown in third quarter Read More »

OSLO (Reuters) -Malaysian telecoms firm Axiata Group and Norway’s Telenor ASA have been given clearance from the Securities Commission Malaysia for the proposed merger of their local units, Telenor said on Thursday. Facing stiff competition in the competitive Malaysian market, Axiata and Telenor announced last year the planned tie-up between Celcom Axiata and DiGi.Com, forming …

Telenor and Axiata win key approval for multi-billion dollar Malaysia tie-up Read More »

By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka’s economy shrank 8.4% in the quarter through June from a year ago in one of the steepest declines seen in a three-month period, amid fertiliser and fuel shortages during the nation’s most severe financial crisis in more than seven decades. A acute dollar shortage, caused by economic mismanagement …

Sri Lanka’s economy shrinks 8.4% amid fertiliser, fuel shortages Read More »