ASIA: Shares in China Evergrande Group’s electric vehicles (EV) unit rose on Monday as the embattled property developer moved to prioritize the growth of its nascent EV business over its troubled core real estate operations. Evergrande rose as much as 6% during the session before closing down 0.7%. China Evergrande New Energy Vehicle Group Ltd […]

ASIA: China Evergrande Group appeared to have averted default with a last-minute bond coupon payment, a source said on Friday, buying it another week to wrestle with a debt crisis looming over the world’s second-biggest economy. Facing a deadline on Saturday to pay interest on a US dollar bond, Evergande sent $83.5 million to a […]

(Image from Statistics Canada: Prices for meat products rise year over year in September) Canada’s CPI rose 4.4% YoY this September, according to Statistics Canada. Every major sector saw gains, but meat prices spiked 9.5%, marking the fastest pace of growth since April 2015. Canada’s Food Price Report for 2021, released in December 2020, predicted […]

ASIA: Singapore’s central bank unexpectedly tightened its monetary policy on Thursday, delivering its first such move in three years amid mounting cost pressures caused by supply constraints and a recovery in the global economy. The central bank, which manages its policy through exchange rate settings, said it would raise the slope of its currency policy […]

ASIA: The unfolding crisis in real estate in China is emerging as one of Beijing’s toughest challenges in the coming year. Real estate-related activities including, cement and steel production, registered steep contractions last month, as did property sales and new construction projects. That has led to reduced property investment, which contracted in September for the […]

ASIA: India and Israel agreed to resume talks on a free trade agreement from November, with the aim of signing a deal by mid-2022, both countries said on Monday. Ties between the two countries have grown closer in the seven years since Indian Prime Minister Narendra Modi has been in power. Several strategic military and […]

ASIA: China’s economic growth in the third quarter slumped to its slowest pace in a year, as a property slowdown and energy shortages highlighted rising pressure on policymakers. Gross domestic product grew 4.9 percent year on year between July and September, according to data released by the National Bureau of Statistics on Monday, compared with […]

ASIA: India’s September fuel consumption crawled higher month-on-month as economic activity continued to ramp up, government data showed on Wednesday, but soaring global oil prices could stall a recovery in the world’s third-largest oil importer and consumer. Fuel consumption, a proxy for oil demand, totaled 15.92 million tonnes last month, up slightly from August and […]

ASIA: India’s economy, which contracted by 7.3 percent due to the Covid-19 pandemic, is expected to grow by 9.5 percent in 2021 and 8.5 percent in 2022, according to latest projections released by the International Monetary Fund on Tuesday. India’s growth projection released by the latest World Economic Outlook remains unchanged from its previous WEO (World […]

ASIA: The Indian economy is poised to achieve 10.25 per cent GDP growth in FY 2021-22 on the back of effective government policies, Reserve Bank’s accommodative policy stance and improved business sentiments, industry body PHDCCI said on Monday. Last week, the Reserve Bank retained the GDP (gross domestic product) forecast for the current financial year at 9.5 […]