ASIA: India’s July crude oil imports slumped to their lowest in a year, tanker arrival data from industry sources showed, and are likely to rebound in August as refiners are expected to boost runs after the maintenance of units. Crude imports in July fell 12.5% month-on-month to 3.4 million barrels per day (bpd), but rose […]

ASIA: China released economic data for July that showed slower-than-expected growth as the world’s second-largest economy battled floods and a resurgence of Covid-19. The slowdown was particularly apparent in individual Chinese consumer spending, despite authorities’ efforts to build up consumption as a driver of economic growth. The data showed consumers cut back on spending across […]

ASIA: A group of the most influential American business groups is urging the Biden administration to restart trade talks with China and cut tariffs on Chinese-made goods that had remained in place after the start of the trade war between the two countries. The group on Thursday in a letter asked that the Biden administration […]

ASIA: Singapore will reopen their borders to some travelers from Germany, Hong Kong, Macao, and Brunei as soon as August 26. Transport Minister S. Iswaran stressed that Singapore’s “connectivity with the rest of the world is essential, if not existential.” The nation has already opened borders to travelers from China, New Zealand, and Taiwan, but […]

ASIA: President Xi Jinping of China is considering raising taxes on wealthy citizens to create a “common prosperity.” In a Tuesday meeting, the president urged for a “reasonable adjustment of excessive incomes and encouraging high income groups and businesses to return more to society.” However, exact tax figures or plans were not revealed. The top […]

ASIA: China’s  State Administration for Market Regulation (SAMR) has imposed new regulations that prohibit businesses from altering product information regarding their product orders and sales. The agency also has prohibited companies from leaving fake reviews or fabricating consumer sentiment. Using algorithms to redirect online consumers to avoid online competitors is also illegal and seen as […]

Karl Marx may have failed in creating communism, but he succeeded in turning the world into Socialists. The 19th century onward has been dominated by this idea of socialism. People see socialism as often a good thing because they think that the government is there like Santa Claus to take care of them. But socialism […]

ASIA: China’s economic recovery slowed in July, according to new data by the National Bureau of Statistics. Retail sales grew 8.5% last month, beneath analysts’ expectations of 10.9%, and below June’s reading of 12.1%. Industrial production slowed to 6.4% YoY after experiencing an 8.3% boost the month prior. Unemployment increased from 5% to 5.1%, with […]

ASIA: India on Thursday proposed scrapping a controversial law that taxed companies retrospectively and said it will refund disputed amounts, a move that could potentially settle its multi-billion-dollar tax cases with Cairn Energy and Vodafone. The amendment to the tax law could resolve at least 17 disputes of tax payments amounting to 500 billion rupees […]

ASIA: according to a new ranking, which predicts the Chinese economy will grow faster than India’s over the next decade. The data shows that China was able to increase its ranking despite US tariffs by exporting to other regions. India’s benchmark stock index—the NSE Nifty 50—crossed 16,000 for the first time Tuesday as investors bet […]