MANILA — Developing Asia will barely grow this year as lockdowns imposed to fight the spread of the coronavirus hamper economic expansion, the Asian Development Bank said in a report on Thursday. The region is expected to grow by 0.1% this year, the slowest rate since 1961 and a further […]
Asia
Developing Asia to lose up to half of foreign direct investment: UN
NEW YORK — Foreign direct investment to developing economies in Asia is projected to decrease between 30% and 45% this year because the region’s status as the world’s factory makes it particularly vulnerable to disruptions from the coronavirus pandemic, the United Nations said in its annual World Investment Report. “Flows to developing Asia will be severely affected due to […]
Asia offers lessons on preventing second wave of coronavirus
TOKYO — Japanese Finance Minister Taro Aso stirred controversy this month when he credited Japan’s lower coronavirus death toll compared with the U.S. and Europe to the fact that “our cultures are at different levels.” The Japanese word he used, mindo, encompasses aspects such as education and norms of behavior. […]
Asia powerhouses in Q1: Sinopec stumbles but Nintendo thrives
SINGAPORE — The coronavirus pandemic disrupted business across Asia in the first quarter 2020, forcing leading companies from China Petroleum & Chemical (Sinopec) to Toyota Motor to post their weakest earnings in years. According to QUICK-FactSet data, 22 of 32 Asian powerhouses with market capitalizations over $50 billion at the […]
Japan regional banks to help businesses spread wings in Asia
TOKYO — Japanese regional banks will pool financial and human resources to help smaller businesses find customers and establish sales channels in China, Vietnam and other overseas markets. Yamaguchi Financial Group and Michinoku Bank will soon enter into a partnership with Tokyo-based RCG, which supports regional trading houses. Plans call […]
George Floyd protests inspire campaigns against racism across Asia
JAKARTA — The #BlackLivesMatter campaign has rippled from the U.S. into Asia, triggering echoes of solidarity and reviving calls to confront the continent’s own problems of racism and injustice. The global movement ignited by the killing of George Floyd, an African American man, by a white police officer in the […]
Singapore coronavirus clusters awaken Asia to migrants’ plight
SINGAPORE — For one Bangladeshi migrant worker, this year has been his “worst experience” in Singapore. In April, he was forced into home quarantine for a month as the coronavirus burned through his dormitory. The construction site where he worked — a government transport project — was closed. After his […]
Singapore coronavirus clusters awaken Asia to migrants’ woes
SINGAPORE — For one Bangladeshi migrant worker, this year has been his “worst experience” in Singapore. In April, he was forced into home quarantine for a month as the coronavirus burned through his dormitory. The construction site where he worked — a government transport project — was closed. After his […]
China recovery drives commodity prices higher in Asia
TOKYO — Prices of steel, petrochemicals and other commodities have rebounded in Asia, with China leading the way after its containment of the coronavirus outbreak has allowed business activity to resume. Hot-rolled steel, widely used by automakers and other industries, has risen to $455 per ton, compared with $435 in […]
China recovery drives commodity prices higher around Asia
TOKYO — Prices of steel, petrochemicals and other commodities prices have rebounded in Asia, with China leading the way as its successful battle against the coronavirus outbreak allows business activity to resume. Hot-rolled steel, widely used by automakers and other industries, has risen to $455 per ton, compared to $435 in April, a […]