Economy

Thailand’s economic development slowed faster than anticipated in the fourth quarter of 2022 due to a decrease in exports and manufacturing, but a resurgence in the crucial tourism industry could continue to bolster the recovery this year despite a decline in global demand. Friday’s report from the National Economic and Social Development Council (NESDC) indicated that the GDP of the …

In January, Singapore’s non-oil domestic exports fell 25% year-over-year, the greatest annual decline in a decade. The reduction was driven by Singapore’s non-oil exports to its main markets, with shipments to China decreasing by more than 41%, to the U.S. by 31.5%, and to Hong Kong by more than 55% for the month. The number is the fourth consecutive drop …

Grab argued that the addition of 100,000 transport network vehicle services (TNVS) providers would not result in an overstock, considering that demand had occasionally surpassed pre-pandemic levels. Grab Philippines senior director of operations Ronald Roda stated in a statement released on Friday, February 10: “We believe that the number of slots needed to meet demand in 2023 for new and …

Malaysia’s central bank said on Friday that the economy would not enter a recession this year and will have stronger-than-anticipated growth in 2022 as the nation gains a firmer footing to emerge from the pandemic-induced economic crisis of recent years. Some experts caution against excessive optimism, noting that domestic demand remained subdued and that layoffs and general pessimism in the …

Indonesia’s GDP grew by 5.3% in 2022, its greatest performance since 2013. It did so due to increased spending and record-breaking exports. As COVID-19 limits loosened, household spending surged, aided by travel. Exports increased to $292 billion as a result of surging commodity prices in the aftermath of the Russian invasion of Ukraine. Indonesia is one of the world’s leading …

According to a poll performed by Social Weather Stations (SWS) in December 2022, more individuals felt poor in regions outside of Metro Manila in 2022, notably in Mindanao. The 2022 Social Weather Stations (SWS) survey revealed that while self-reported poverty was only 32% in Metro Manila, it was 17 percentage points higher in balance Luzon at 49%, 26 percentage points …

As a result of the nation’s recovery from COVID-related travel restrictions, gasoline consumption and imports in Indonesia, Asia’s top importer of the motor fuel, could reach all-time highs this year. However, growth is projected to moderate along with Indonesia’s economy. A rise in Indonesian imports would constrict the regional gasoline market and presumably increase refinery profit margins in Asia. It …

Many Indians tweeted their support for Gautam Adani on January 31, as the school dropout-turned-billionaire closed a $2.5 billion share sale despite criticism from an American short-seller. IndiaStandsWithAdani was among the top trending hashtags on Twitter in response to Adani Group stock losses of $65 billion since last week’s Hindenburg Research study, which raised worries regarding the company’s debt levels …

According to a report that was published by Bloomberg News on January 29, 2019, which cited people with knowledge of the matter, the India unit of Apple-supplier Jabil Inc. has started manufacturing components for AirPods in the country, and the company is shipping plastic bodies or enclosures for AirPods to China and Vietnam. A request for comment from Reuters was …

The richest man in Asia is the Indian businessman Gautam Adani, whose business empire includes coal, airports, cement, and media. He is currently shaken by claims of business malfeasance and a stock market meltdown. The billionaire began the week as the third-richest person in the world, but has now fallen to seventh place on Forbes’ billionaires tracker after suffering a …