Category: Asia

Business confidence in India has slipped to a one-year low due to the demonetization drive introduced by Prime Minister Narendra Modi in November, according to a survey conducted by the Federation of Indian Chambers of Commerce and Industry (FICCI). The survey, conducted between December 2016 and January 2017, showed the country’s Overall Business Confidence Index…

China’s official manufacturing Purchasing Managers’ Index (PMI) showed the industrial sector continued to expand in January and a tad faster than expected, as the mainland economy shows signs of stabilizing. The manufacturing PMI came in at 51.3 in January, down a smidgen from 51.4 in December, but still better than a Reuters poll forecast of…

India’s government has unveiled its annual budget, with promises to boost rural spending and pull more people out of poverty. It comes months after the controversial withdrawal of high value banknoteswhich caused chaos in the economy, hurting farmers and the poor most. Finance Minister Arun Jaitley allocated funds to bring more irrigation, roads, electricity and…

As India’s economy continues to reel in the aftermath of last year’s demonetization drive, Finance Minister Arun Jaitley must balance between the need for stimulating growth and continuing fiscal discipline when he presents the 2017-2018 budget on Wednesday. India’s fiscal year starts April 1, and the outlook has certainly changed from last year. Entering 2016…

Mitsubishi Motors Corp (7211.T) on Tuesday said it expects a smaller full-year net loss than previously forecast due to lower costs and the impact of a weaker yen, after swinging to an operating profit for the third quarter. Japan’s sixth-largest carmaker, which is recovering from a mileage cheating scandal, posted an 8.4 billion yen ($73.85…

Asian shares slipped on Tuesday as stringent curbs on travel to the United States ordered by President Donald Trump brought home to investors that he is serious about carrying out his controversial campaign pledges. Global stocks posted their biggest loss in six weeks on Monday after Trump signed an executive order to bar Syrian refugees…

U.S. President Donald Trump formally withdrew the United States from the Trans-Pacific Partnership trade deal on Monday, distancing America from its Asian allies, as China’s influence in the region rises. Fulfilling a campaign pledge to end American involvement in the 2015 pact, Trump signed an executive order in the Oval Office pulling the United States…

Hugo Barra, the most prominent global executive at China’s Xiaomi Inc [XTC.UL] and the face of the smartphone maker’s global expansion, has left the company citing health concerns and a new role. In a social media post on Monday, Barra, Xiaomi’s vice president in charge of global operations, said he was leaving the company after…

Malaysia’s central bank kept its benchmark interest rate unchanged for a third straight meeting to help bolster the currency as policymakers in emerging economies gird themselves for tighter U.S. monetary policy. Bank Negara Malaysia held its key rate at 3 percent, it said in a statement in Kuala Lumpur Thursday, as predicted by all 17…