By Jessie Pang and Carol Mang HONG KONG (Reuters) -When Washington announced higher tariffs and the axing of a de minimis rule that allowed for low-value packages from Hong Kong and mainland China to enter the United States free of duties, Quinn Lai felt it was “game over” for his watch brand. Lai is the …
Hong Kong DIY watch brand sets sights on Europe amid Trump tariffs Read More »
HONG KONG (Reuters) -Hong Kong’s de-facto central bank stepped into the foreign exchange market on Tuesday as the currency hit the top end of its band for a fourth time this month, spurred by a broader selloff in the U.S. dollar against several low-yielding currencies. The Hong Kong Monetary Authority bought $7.8 billion (HK$60.5 billion) …
Hong Kong’s central bank intervenes to maintain currency peg Read More »
By Stephen Nellis and Max A. Cherney SAN FRANCISCO (Reuters) – A U.S. lawmaker plans to introduce legislation in coming weeks to verify the location of artificial-intelligence chips like those made by Nvidia after they are sold. The effort to keep tabs on the chips, which drew bipartisan support from U.S. lawmakers, aims to address …
Exclusive-US lawmaker targets Nvidia chip smuggling to China with new bill Read More »
By Karen Lema and Mikhail Flores MANILA (Reuters) -Philippine inflation was at its lowest level in more than five years in April due to falling food and transport costs, the statistics agency said on Tuesday, giving the central bank room to ease policy to support growth. Annual inflation slowed to 1.4% in April, down from …
Slower inflation in April gives Philippine central bank room to ease policy Read More »
HONG KONG (Reuters) -Hong Kong’s freight forwarding industry is reeling from the U.S.-China trade war with 41% of container capacity from the city to North America’s west coast cancelled for the week starting May 12, the South China Morning Post reported. Hong Kong, a global shipping hub which plays a key role in re-exporting goods, …
Hong Kong’s freight forwarding industry hit by trade war, SCMP reports Read More »
By Ankur Banerjee and Faith Hung SINGAPORE/TAIPEI (Reuters) -An unprecedented two-day surge in Taiwan’s currency is the latest leg of a scramble out of the U.S. dollar and signal of disquiet in markets as U.S. President Donald Trump’s trade war rattles confidence and disrupts trade relationships. Taiwan occupies one of the most valuable and vulnerable …
Taiwan dollar’s record rally is a trade-war tremor Read More »
By Rahul Trivedi BENGALURU (Reuters) – Malaysia’s central bank will hold its key interest rate steady on Thursday but is expected to lower it by 25 basis points in the last three months of the year to support slowing economic growth amid growing trade tensions, a Reuters poll suggested. With inflation hitting a four-year low …
Malaysia central bank seen holding key rate on May 8, cutting in Q4:Reuters Poll Read More »
By David Lawder WASHINGTON (Reuters) -International Monetary Fund Managing Director Kristalina Georgieva on Monday said the IMF has been vocal about its policy prescriptions for China to move away from an export-led growth model. Asked at the Milken Institute Global conference in the Los Angeles area whether the IMF needed to get tougher on China …
IMF’s Georgieva says IMF has been vocal about China’s need to change economic model Read More »
By Makiko Yamazaki (Reuters) -Japan, China, South Korea and the 10 ASEAN countries agreed to enhance their regional financial safety net by launching a new lending facility aimed at swiftly responding to crises caused by pandemics and natural disasters. The finance leaders of the so-called ASEAN Plus Three group agreed at their meeting in Milan, …
Japan, China, South Korea, ASEAN enhance regional financial safety net Read More »
By Liang-sa Loh and Faith Hung TAIPEI (Reuters) -Taiwan’s president on Monday called for an end to “false” news about talks with the United States on foreign exchange rate policy, after the Taiwan dollar surged against the U.S. dollar on speculation Washington had asked for it to appreciate. The Taiwan dollar on Monday and last …
Taiwan president calls for end to ‘false’ news about US forex talks Read More »
