Economy

Emerging as the economic powerhouse of the world over the past few decades, Asia is truly going through something unprecedented. In addition to the manufacturing power that China boasts, the technology boom from India’s side, and the rising industrial hubs in Southeast Asia, all this continues to reshape the global marketplaces. But what is driving this rapid growth, and how …

According to the most recent data produced by the Bank for International Settlements and released on Thursday, South Korea’s total debt- household, corporate, and government liabilities alike- grew by 4% within the third quarter of the past year, breaking its debt threshold past 6.2 quadrillion won ($4.24 trillion), which has now become 2.5 times the GDP of the country. Thus, …

Hong Kong, known for its high cost of living, has relinquished its position as the world’s most expensive city for expatriates to Singapore. The shift in rankings is primarily attributed to the soaring property prices in both cities. For years, Hong Kong has held the top spot in the annual surveys of the world’s most expensive cities for expats. However, …

Indonesia and Malaysia have taken a significant step forward in enhancing their digital payment capabilities by initiating the implementation of QR code payments under the ASEAN system. This move aims to promote greater interoperability and seamless cross-border transactions within the region. The adoption of QR code payments is part of the broader efforts by the Association of Southeast Asian Nations …

As the cost of living continues to soar in Singapore, an increasing number of expatriates are looking beyond the city-state’s borders for more affordable alternatives. Malaysia and Vietnam have emerged as popular destinations for expats seeking a higher quality of life while managing their expenses. Singapore, known for its high standard of living, has become considerably more expensive in recent …

In a significant development for Southeast Asia’s economic landscape, both the Malaysia Ringgit and the Singapore Dollar have experienced a historic slump, reaching all-time lows against major currencies. CNA provides valuable insights into the various factors contributing to this drastic decline and its implications for the regional economies. One key factor influencing the slump is the evolving global market dynamics. …

Singapore is known for its thriving economy and lucrative job market. In 2023, certain industries in Singapore are offering highly competitive salaries, with some jobs even crossing the six-figure mark. Let’s delve into the highest-paying industries and explore the in-demand professions that are paving the way for financial success in Singapore. Finance and Banking The finance and banking sector in …

Thailand’s jobless rate has reached its lowest point in three years during the first quarter, signaling a positive recovery in the country’s labor market. The remarkable decline in unemployment can be attributed to the resurgent tourism industry, which has seen a significant revival in recent months. The COVID-19 pandemic had a devastating impact on Thailand’s tourism sector, leading to widespread …

Singapore’s middle class is feeling the pinch as the cost of car ownership soars to record heights. Residents are concerned and frustrated by the latest record-breaking Certificate of Entitlement (COE) prices, which include a stunning US$150,000 for a Toyota Corolla. In Singapore, the COE system restricts vehicle ownership and places a major financial burden on potential car buyers. The rise …

Singapore, recognized for its economic success and excellent level of living, is facing an urgent problem: skyrocketing rental rates. Rent increases are not only affecting individuals’ daily life, but they are also posing a huge political challenge to the administration. The affordability crisis is creating worries about economic inequality, social cohesion, and the total cost of life in the city-state …