Economy

The South Korean President, Yoon Suk Yeol, left for the United Arab Emirates on Saturday as part of a two-nation tour aimed at promoting South Korean exports, particularly those related to the energy and defense industries. Yoon is scheduled to arrive in Abu Dhabi on a state visit, the first such visit by a South Korean leader since the two …

Some stores have adjusted their prices to reflect the increase in the Goods and Services Tax (GST), which has increased by 1 percentage point to 8% starting Jan. 1. CNA went to numerous stores to compare prices on a random assortment of things before and after the GST increase went into effect. While other retailers raised their prices, no notices …

Last year, the Japanese economy encountered a number of obstacles, including a record decline in the value of the yen versus the U.S. dollar and decades-high inflation. However, efforts were also made to recommence economic activity halted by the COVID-19 epidemic, exemplified by the reopening of borders for the first time in two years. According to economists, the forecast for …

Friday, the Chairman of the Indonesian Chamber of Commerce and Industry (KADIN), Arsjad Rasjid, stated that Indonesia has the capacity to become the ASEAN axis of the global economy. Indonesia will preside over the ASEAN Summit in 2019, and Rasjid has been named chair of the 2023 ASEAN Corporate Advisory Council (BAC), an important platform for the ASEAN business community. …

At least two banks in Singapore have announced modifications to credit card interest rates and surcharges. One of them is HSBC, which is increasing the annual percentage rate on outstanding credit card balances from 25.9% to 26.6%. Late payment costs – an extra flat fee charged to credit cardholders who fail to pay the minimum amount by the due date …

Anthony Loke, Malaysia’s Transport Minister, has asked domestic airlines to fix or lower their costs for the approaching holiday season in order to better serve the public. Wednesday (Dec. 28) at an event at the AirAsia headquarters, the budget airline said that it will operate additional flights at fixed rates to accommodate rising demand during the forthcoming holiday season. From …

President Vladimir Putin delivered Russia’s long-awaited reaction to a Western price ceiling on Tuesday, December 27, by signing an order prohibiting the delivery of crude oil and oil products to nations that adhere to the quota for five months beginning on February 1. In response to Moscow’s “special military operation” in Ukraine, the Group of Seven, the European Union, and …

As we go towards 2023, Prime Minister Anwar Ibrahim will encounter formidable obstacles as he navigates the country’s economy. With his vast expertise and intelligence, Anwar is the ideal choice to guide us through the obstacles that will arise when the world economy enters challenging times. The forecasts for the coming year are not favorable. According to the International Monetary …

President Joko Widodo of Indonesia stated on Wednesday that a restriction on exports of bauxite will go into effect as planned in June 2019 in order to stimulate domestic processing of a mineral used as the primary ore source for aluminum. The resource-rich nation has startled markets with its commodities exports policy, including temporary but contentious prohibitions earlier this year …

China accused the United States on Wednesday, December 14, of using subsidies to bolster domestic sectors and refusing to adhere by World Trade Organization norms (WTO). Li Chenggang, China’s Ambassador to the WTO, stated in a speech that he was dissatisfied with the United States’ trading record, stating that it did not live up to President Joe Biden’s inauguration commitment …