Page 3 - Asian Economy

Singapore raises 2021 GDP estimate, now expects growth of 6%-7%

Among nine economists surveyed by Bloomberg who updated their Singapore GDP forecasts this month, six saw growth exceeding 6%.

India to Indonesia: Asian economies challenged by Delta Covid variant

In India, where the delta strain was first identified last year, a deadly second wave is ebbing but its fallout is substantial.

ADB trims developing Asia's 2021 economic growth forecast to 7.2%

Developing Asia's economic growth this year will be slightly lower than previously projected, Asian Development Bank said on Tuesday, citing the resurgence of Covid-19 infections in countries

Asia's highest default risk puts spotlight on Sri Lanka debt worry

The first test comes July 27, when the South Asian nation must repay a $1 billion bond to investors.

What inflation? Pandemic leaves emerging Asia's consumer recovery behind

Asia's once fast-growing economies are struggling with weak domestic demand that is keeping a lid on inflation in contrast to some developed markets

IMF paints a rosy picture, says Asia's economy to grow 7.6% in 2021

The IMF expects Asia's economy to grow 5.4 per cent in 2022

India, Philippines most vulnerable in a taper tantrum-like scenario: S&P

One mitigating factor for both countries is that current accounts are stronger relative to normal levels, notes S&P

India and Philippines most vulnerable to risks of a 'taper tantrum': S&P

S&P Global Ratings on Wednesday said the recovery across Asia's emerging economies would withstand rising US yields so long as this reflects an improving growth outlook and reflation rather than a monetary shock. US yields are rising mostly due to expectations of higher growth, rather than fears of imminent tightening, or monetary-policy shock. This time around, initial conditions in Asia are sturdier than they were in 2013, the rating agency said. It said current account surpluses, low inflation (for the most part), higher real interest rates, and fatter foreign-exchange reserve buffers give regional policymakers more flexibility and should allow central banks to remain focused on supporting recovery. "The recovery across Asia's emerging economies should withstand rising US yields so long as this reflects an improving growth outlook and reflation rather than a monetary shock," S&P Global Ratings Asia-Pacific Chief Economist Shaun Roache. The US-based agency, however, said ...

Asian equities face outflows in February due to rise in US bond yields

Taiwan and South Korea witnessed the biggest net sales

Malaysia unveils $3.7 billion package as Covid-19 pandemic cases surge

The measures come a week after Malaysia declared a state of emergency, allowing the government to enact immediate laws to contain the pandemic and support the economy

Asia's unequal recovery sounds warning bells for global economic rebound

Asia is an important barometer for the world economy because it accounted for more than two-thirds of global growth in 2019 and is home to a majority of those between the ages of 15-24

Pandemic to keep Asia's growth at lowest since 1967, warns World Bank

The bank said the region this year is projected to grow by only 0.9%, the lowest rate since 1967

Normalisation from Covid economic disruption to take longer in SE Asia: S&P

Normalisation from Covid-19 economic disruption is expected to take longer in India, Japan, Australia and most of southeast Asia, according to a new report by S & P Global Ratings titled 'Asia Pacific's Recovery"The pandemic is not over but the worst of its economic impact has passed," said Shaun Roache, Asia Pacific Chief Economist for S & P Global Ratings."Governments are adopting more targeted strategies for flattening Covid curves with less recourse to nationwide lockdowns. Households are spending again on services as well as goods."Covid-19 is proving hard to beat but fatality rates are falling and prospects have brightened for a widely available vaccine by mid-2021. In the meantime, people are moving and spending more, testament to a world becoming accustomed to Covid-19. Trade, for example, has bottomed.As a whole, S & P expects Asia Pacific economies to shrink by 2 per cent in 2020 and rebound by 6.9 per cent next year. This will still leave the region almost 5 per

Red flag waves as demand wanes at Southeast Asia bond auctions

Bidding at Indonesian and Malaysian auctions has fallen to the lowest levels in at least five months

Thailand's cabinet backs $2.2 billion cash aid to boost economy, jobs

The Thai economy is forecast to contract by more than 8% this year, its worst annual performance on record, led by a slump in exports and tourism

Top headlines: Rajnath's statement on border row, Toyota halts expansion

From Rajnath Singh's statement on Ladakh stand-off to Apple's plans to shift manufacturing hub to India, Business Standard brings you top headlines of the day

Oil firms on US stimulus hopes, Asian demand recovery as economies reopen

Brent crude added 7 cents, or 0.2%, to $45.06 a barrel, as of 0027 GMT. West Texas Intermediate U.S. crude rose 14 cents, or 0.3%, to $42.08 a barrel

Foreign investors pull out $26 bn from Asian economies; $16 bn from India

In Europe, over 30 million people in Germany, France, the UK, Spain, and Italy have applied for state support, while first quarter 2020 data indicates that the eurozone economy contracted by 3.8%

Coronavirus: Foreign investors sell Asian equities worth $9 bn in March

Radhika Rao, an economist at DBS Bank, said the outbreak was expected to take an economic toll on the region given its proximity and strong trade and production linkages with China

COVID-19 will have significant impact on developing Asia's economy: ADB

The magnitude of the economic losses will depend on how the outbreak evolves which remains highly uncertain