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Economy in Asia

  • Eyeing jet deal, Saab offers full tech transfer to India

    INDIA, 2017/11/22 Swedish defence giant Saab Group said today it would ensure "full" technology transfer of its Gripen-E fighter jet to India if the company gets the arrangement to supply a fleet of the single engine combat aircraft to Indian Air Force. The company as well said it will build the world's most modern aerospace facility in India, besides creating a local supplier base of ancillary systems, if it wins the arrangement for which US defence major Lockheed Martin has emerged as a major contender.
  • Should developing countries fear the impact of automation on jobs?

    WORLD, 2017/11/15 Fears of technology-induced unemployment have penetrated media headlines and policy discourse in both advanced and developing countries.
  • Junta reforms doing nothing to assuage Thai investment flight

    THAILAND, 2017/11/15 The Thai junta is unhappy with Thailand’s current economic paradigm and is attempting to shift the fundamental base of the country’s economy. Various branches of the Thai national are attempting to create what is vaguely referred to as ‘Thailand 4.0’ by the government, the ‘next increase phase’ by the Ministry of Finance and the ’20 Year Strategy’ or the ‘6–6–4 plan’ by the Ministry of Commerce. Ten industries are being targeted to shift Thailand up from a middle-gain country that produces other country’s ideas, to a fully developed country based on innovation and indigenous creativity by 2036. To achieve this, Thailand’s Investment Promotion Act has been ‘reinterpreted’ into the Seven-Year Investment Promotion Strategy. Rather than offer broad incentives, the new approach is an attempt to ‘level up’ the economy into specifically selected sectors that are high-tech, high price-added and high creativity.
  • Duterte to pour 'billions of pesos' into funding for MSMEs

    PHILIPPINES, 2017/11/13 'Maybe P50 billion each is okay?' the Philippine president asks before an audience of diplomats and businessmen from all over Southeast Asia. President Rodrigo Duterte has so much hope in micro, small, and medium enterprises (MSMEs) in the Philippines that he vowed on Sunday, November 12, to pour billions of pesos into funding for them. "Next year, I would like to make some late changes in the GAA (General Appropriations Act), the annual budget. I would like to pour additional money [into] this medium, small, and micro enterprise," he said to loud applause during the launch of an Association of Southeast Asian Nations (ASEAN) business mentorship program.
  • Can the Modi Government Halt India's Economic Tailspin?

    INDIA, 2017/11/02 Like millions of Indians, I voted for Narendra Modi based on his electoral promise that he would bring “acche din” (good days) to ordinary Indians. Based on his promise to transform the Indian economy, and make a difference in the lives of the people, he and his Bharatiya Janata Party (BJP) received an unprecedented mandate with a two-thirds majority in the lower home of the Indian parliament.
  • What Global Finance Chiefs Are Saying About the Economy

    WORLD, 2017/10/16
  • IMF upgrades Korean growth to 3%

    SOUTH KOREA, 2017/10/15 he International Monetary Fund (IMF) has adjusted Korea’s increase estimate for 2017 and 2018 upward to 3.0 %. On Oct. 10, the IMF released its World Economic Outlook statement, published each April and October, and revised Korea’s increase outlook for 2017 to 3.0 %, which is 0.3 % points higher than in the April statement. For 2018, the increase estimate went up 0.2 % points to 3.0 %. According to the Ministry of Strategy and Finance, the IMF’s revision of its economic increase outlook figures is based on improvements in world trade and the recovery of import request in mainland China.
  • Global financial crisis looms as 'new bubbles' begin to emerge, says outgoing German finance minister

    GERMANY, 2017/10/14 Financial expert Ernst Wolff gives Sputnik a taster of his new book, which warns that dependence on the financial industry and the US dollar has created a "financial tsunami," the consequences of which the world is all unprepared for. Financial expert Ernst Wolff, author of a bestselling analysis of the International Monetary Fund's "modern day crusade against the working people on five continents," has turned his attention to the world economy in his new book.
  • Singapore's latest growth nearly doubled estimates

    SINGAPORE, 2017/10/14 Singapore's trade-reliant economy grew additional than expected in the third quarter from the previous quarter on an annualized basis, on the back of manufacturing increase, preliminary data showed on Friday.
  • Global economic recovery may not last, warns IMF

    WORLD, 2017/10/13 Fund cuts UK and US increase forecasts, and as well tells governments not to get complacent in its new World Economic Outlook. The International Monetary Fund has said the world economy’s recent recovery may not last, despite a pickup in activity in all western nations except the UK. Marking the 10th anniversary of the onset of the financial crisis, the IMF said in its World Economic Outlook (WEO) there was a risk that governments could be lulled into a false sense of security by booming markets and policymakers needed to guard against complacency. Maurice Obstfeld, the IMF’s economic counsellor, cited high investment prices, rapid credit increase in China, political turmoil in Catalonia and a cliff-edge Brexit as risks to an improving world outlook.