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Economy in Asia

  • Boost Brunei Darussalam’s economy

    BRUNEI , 2013/08/12 An increase in oil and gas production is expected to boost Brunei Darussalam’s economy over the next few years, but international experts discord on the magnitude and timing of this increase. In a statement issued in late June, the IMF said the Sultanate’s GDP would increase on average by 5.6% per year over the next five years, as new petrochemical and refinery projects come on-line. The developments are expected to contribute both due to the economy inclunding generate spill-over for related sectors, inclunding transportation, retail and services.

  • South Korea freezes key interest rate at 2.5pc in August

    SOUTH KOREA, 2013/08/11 South Korea's central bank left its key interest rate steady at 2.5 % Thursday, with uncertainty over the US Federal Reserve's stimulus programme and China's slowing economy. The Bank of Korea's largely anticipated decision to leave the rate unchanged for a third straight month came as Seoul economic policymakers cautiously watched for the timing of the rollback of the US stimulus package. Growing signs of a slowdown in China -- the export-reliant South's major trading partner -- was as well a source of concern for Asia's fourth-major economy.

  • Indonesia's economy expanded less than expected

    INDONESIA, 2013/08/03 Indonesia's economy expanded less than expected in the second quarter, official data showed Friday. Gross domestic product expanded 5.81 % year-on-year in the second quarter next rising 6.02 % a quarter ago, Statistics Indonesia reported. The rate of increase was as well slower than the 6 % increase estimate by economists.

  • Indonesia Q2 Growth Falls Below 6%

    INDONESIA, 2013/08/03 Driven by the weakness in investment and household spending, Indonesia's economic increase fell below 6 % in the second quarter, official data from Statistics Indonesia showed Friday. Southeast Asia's major economy expanded only 5.81 % year-on-year in the second quarter, next logging a revised 6.02 % increase in the preceding three months. The pace of increase was the slowest in three years and as well weaker-than the 6 % expansion estimate by economists.

  • Vietnam's Economic Growth To Remain Weak In Long-Term

    VIETNAM, 2013/07/13 The Vietnamese economy is set to record weaker increase this year and the next, intensifying the request for further loosening of monetary and fiscal policies, a statement from the World Bank said Friday. The statement said that the economy is facing may downside risks, inclunding that of stoking inflationary pressures and reversing the recent gains in macroeconomics stability. As well, delayed implementation of structural reforms could undermine investors' confidence and worsen increase prospects further.

  • India's CPI Inflation Rises To 9.87% In June

    INDIA, 2013/07/13 India\\'s consumer price inflation increased in June, driven mainly by a marked gain in food prices, preliminary data released by the Central Statistics Office showed Friday. Headline inflation as per the consumer price index (CPI) moved up to 9.87 % in June from 9.31 % in May. The inflation rate for the rural areas rose to 9.63 % from 8.98 % in the previous month, while the rate for urban areas advanced to 10.13 % from 9.65 %. 

  • The 21st century will be Asia’s

    INDIA, 2013/07/04 The sheer market size and increase potential of China and India place them at the centre of the Asian century. Over the completed 20 years, these two nations have almost tripled their share of the world economy. At the same time as adjusted for purchasing power parity, the Indian economy is presently roughly the same size as Japan’s. One Goldman Sachs estimate suggests that India’s economy will surpass the US economy by 2043. For long the world’s second-major country, India’s people is expected to pass China’s in less than two decades.

  • New credit rating agency to challenge Big 3 firms

    CHINA, 2013/06/27 Chinese credit rating company Dagong launched a new venture with Russian and U.S. partners on Tuesday to challenge the dominance of the major rating agencies that were blamed for contributing to the world financial crisis. Officials said the Universal Credit Rating Group is aimed at "providing some balance" to the industry, traditionally cornered by Moody's, Standard & Poor's and Fitch. The Large Three established agencies came under fire for giving high ratings to complex pools of mortgages and other deficit. The U.S. government is suing S&P for misleading investors over the quality of mortgage-backed investments in the run-up to the crisis that erupted in late 2008.

  • Myanmar is going technology and shifts away from agriculture

    MYANMAR, 2013/06/24 Myanmar has the potential to quadruple the price of its economy to US$200 billion by 2030 if it presses on with reforms, embraces technology and shifts away from agriculture, a study said Thursday. The country, whose economy was stifled by decades of corruption and mismanagement under the former junta, could add 10 million jobs and lift 18 million people out of poverty, according to consultants at the McKinsey World Institute. “There is everything to play for — but as well a major risk of disappointment,” the statement said, warning the government's task is to continue economic and political reforms in the face of major social challenges. 

  • Growth in Thailand, Southeast Asia's second-biggest economy

    THAILAND, 2013/06/24 Steel girders jut from the low skyline of the Thai city of Udon Thani near the Laos border as workers lay cement for a new shopping mall, one of a lot of illustrating a boom in the Thai economy beyond the bright lights of Bangkok. The malls, factories and construction sites in Thailand's northeast are emerging alongside its farms as a potent economic fuel in one of Asia's top emerging markets. Increase in Thailand, Southeast Asia's second-biggest economy, has begun to slow, but the economy of the northeast is in the grip of a boom.
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