ASIA: Japan’s economy grew more than initially reported in the second quarter, as the lifting of local COVID-19 restrictions boosted consumer and business spending. Gross domestic product (GDP) in the world’s third-largest economy expanded an annualized 3.5% in the second quarter, stronger than the preliminary estimate of annualized 2.2% growth, government data showed Thursday. The […]

At least 65 people are dead after a 6.8 magnitude earthquake rocked the province of Sichuan. This comes as 21 million people in Chengdu are confined to their homes as China has placed yet another city on a strict lockdown to adhere to its zero COVID policy. In fact, 65 million people in 33 cities […]

Pelosi knew when to sell! Paul Pelosi, Speaker Nancy Pelosi’s husband, sold off 25,000 shares of Nvidia. A month later, the US government banned Nvidia from selling chips to Russia and China to “address the risk that the covered products may be used in, or diverted to, a ‘military end use’ or ‘military end user.’” […]

ASIA: The southwestern Chinese capital of Chengdu announced a lockdown of its 21.2 million residents as it began four days of citywide testing for COVID-19 as some of the country’s most populous and economically important cities battle outbreaks. Residents of Chengdu, the capital of Sichuan province, were ordered to stay at home from 6 p.m. […]

ASIA: Profits at China’s industrial firms sank in July, reversing previous gains as fresh COVID-19 curbs dragged down demand and squeezed factory margins, while power shortages due to heatwaves threatened production. Profits at China’s industrial firms fell 1.1% in January-July from a year earlier, wiping out the 1.0% growth logged during the first six months, […]

ASIA: India’s oil imports from Russia fell in July for the first time since March, along with its overall purchases, while supplies from Saudi Arabia rebounded for the first time in five months, data from trade and industry sources showed. Indian refiners lifted more futures from Saudi Arabia as prices were attractive, while prices for […]

ASIA: Japan’s imports jumped to a record amount in July, boosted by global fuel inflation and a weak yen, outweighing exports and deepening the trade deficit, in a sign of a further worsening in the terms of trade for the export-oriented economy. Ministry of Finance data showed on Wednesday exports grew 19.0% in July from […]

ASIA: China’s central bank surprisingly cut key interest rates on Monday to revive demand as data showed the economy unexpectedly slowed in July, with factory and retail activity squeezed by Beijing’s zero-Covid policy and the property crisis. Industrial production in July rose 3.8% from a year earlier, according to the National Bureau of Statistics (NBS), […]

ASIA: India’s consumer inflation eased to 6.71% in July, easing for a third straight month, helped by slower increases in food and fuel prices and adding to expectations that the central bank may rein in the pace of interest rate hikes next month. The year-on-year figure, published by the Office for National Statistics on Friday, […]

ASIA: China’s export sector posted strong growth in July, providing a much-needed boost to the world’s second-largest economy, which is almost certain to miss its GDP target this year. Exports measured in US dollars jumped 18% in July from a year earlier, marking the fastest pace of growth this year, according to Chinese customs statistics […]