South Korea exports jump in early October data despite supply chain woes

SEOUL (BLOOMBERG) – South Korea’s early trade report showed exports continued to post strong gains in October, weathering headwinds from global supply chain snags and China’s slowdown. Shipments grew 36.1 per cent in the first 20 days of the month from a year earlier, data from the Customs office showed on Thursday (Oct 21). Daily average exports rose 25.7 per […]

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China faces power hikes that are likely to cut metals output

BEIJING (BLOOMBERG) – China’s energy crisis is likely to mean higher electricity prices, forcing the nation’s army of metals smelters to reduce output and threatening the industrial activity that has underpinned the nation’s recovery from the pandemic. In a bid to boost power generation, the government will allow electricity prices to rise by as much as 20 per cent, double […]

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China's electricity shock is latest supply chain threat to world

BEIJING (BLOOMBERG) –China’s energy crisis is shaping up as the latest shock to global supply chains as factories in the world’s biggest exporter are forced to conserve energy by curbing production. The disruption comes as producers and shippers race to meet demand for everything from clothing to toys for the year-end holiday shopping season, grappling with supply lines that have […]

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What Xi means by 'disorderly capital' is $2 trillion question for investors

SHANGHAI (BLOOMBERG) – If nothing else, Chinese President Xi Jinping is known for his pursuit of order. So how far the Chinese President’s attack on the “disorderly expansion of capital” will go has emerged as a defining question for investors trying to navigate the country’s wave of regulatory crackdowns. Since first appearing in a Politburo readout in December, the phrase […]

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China factory prices rise at fastest pace since August 2008

BEIJING (REUTERS) – China’s factory gate inflation hit a 13-year high in August, as commodity prices remained elevated despite Beijing’s attempts to cool them. The producer price index (PPI) rose 9.5 per cent from a year earlier in August, the National Bureau of Statistics (NBS) said on Thursday (Sept 9), faster than the 9.0 per cent increase tipped in a […]

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China orders ride-hailing firms Didi, Meituan to stop 'disorderly expansion'

BEIJING (REUTERS) – Chinese regulators have summoned ride-hailing giant Didi Chuxing and ten other car platforms to demand they cease “disorderly expansion” and “vicious competition” tactics, the government said on Thursday (Sept 2), amid a growing national crackdown on the tech industry. China has in recent months tightened its scrutiny of its largest tech firms in sectors ranging from e-commerce […]

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Private-sector economists raise Singapore's 2021 growth forecast to 6.6%: MAS survey

SINGAPORE – Private-sector analysts have raised their forecast for Singapore’s economic growth in 2021 for the third time this year, according to the latest quarterly survey released by the Monetary Authority of Singapore (MAS) on Wednesday (Sept 1). They expect Singapore’s gross domestic product (GDP) to expand 6.6 per cent this year, slightly higher than the 6.5 per cent estimated […]

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Singapore's work pass tightening may push up business costs; balance needed to draw skilled talent

SINGAPORE – Singapore will need to strike a balance between ensuring it remains entrenched as a global financial and manufacturing hub while soothing the disquiet among locals over competing for jobs with foreigners. While reiterating their commitment to Singapore and their own fair hiring practices, local and foreign companies, chambers of commerce, trade bodies and experts hoped the new employment […]

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Chinese ports choke over 'zero tolerance' Covid-19 policy

BEIJING (REUTERS) – Several Chinese ports are facing congestion as vessels due to call at Ningbo are being diverted and cargo processing is slowed partly due to stricter disinfection measures under China’s “zero-tolerance” coronavirus policy. On Tuesday (Aug 17), more than 50 container vessels were queuing at Ningbo port, China’s second largest marine centre, Refinitiv data showed, up from 28 […]

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