(Reuters) – Hong Kong leader John Lee said the city’s economy grew 2.7% in the first quarter of 2023, ahead of official data due to be released at 0830 GMT on Tuesday, snapping four consecutive quarters of contraction. “GDP growth in the second quarter will be better than the first quarter,” Chief Executive John Lee …
Hong Kong leader says Q1 GDP grew 2.7% year-on-year Read More »
By Jeff Mason, Trevor Hunnicutt and David Brunnstrom WASHINGTON (Reuters) -President Joe Biden told his counterpart Ferdinand Marcos Jr. on Monday that the U.S. commitment to the defense of its ally was “ironclad,” including in the South China Sea where Manila is under pressure from China. Marcos, on the first White House visit by a …
Amid China pressure, US and Philippines recommit to security alliance Read More »
By Leika Kihara and Jihoon Lee INCHEON, South Korea (Reuters) -Japan and South Korea held their first bilateral finance leaders’ meeting in seven years on Tuesday, a sign relations between the two are thawing amid shared challenges from geopolitical tensions and slowing economic growth. The resumption of bilateral financial talks comes ahead of Japanese Prime …
Japan, South Korea hold first finance leaders’ meeting in 7 years Read More »
By Choonsik Yoo SEOUL (Reuters) -South Korea’s consumer inflation eased for a third consecutive month to a 14-month low in April and the central bank expects the downward trend to persist for some time, supporting the market’s view that its policy tightening cycle is over. The consumer price index (CPI) stood 3.7% higher in April …
South Korea inflation hits 14-month low, backs view rate-hike cycle is over Read More »
SEOUL (Reuters) – South Korean President Yoon Suk Yeol said on Tuesday that a planned nuclear consultative group and new partnerships on supply chains and science and technology are an “upgrade” to the country’s alliance with the United States. Yoon held a summit with U.S. President Joe Biden in Washington last week, during which they …
South Korea’s Yoon says nuclear consultative group upgrades U.S. alliance Read More »
SEOUL (Reuters) – The central banks of South Korea and Indonesia signed a memorandum of understanding on Tuesday to cooperate on promoting the use of their currencies for bilateral transactions, such as current account transactions and direct investment. The cooperation will help businesses reduce their transaction costs and exposure to exchange rate risks by enabling …
South Korea, Indonesia central banks agree to promote local currency transactions Read More »
By Leika Kihara INCHEON, South Korea (Reuters) – The Asian Development Bank (ADB) on Tuesday announced a funding guarantee facility to help the region reduce greenhouse gas emissions and build infrastructure resilient to the impact of climate change. The new funding plan is the first mechanism of its kind to be developed by a development …
ADB announces funding plan for Asian efforts to combat climate change Read More »
SEOUL (Reuters) – South Korea’s central bank said on Tuesday inflation would keep easing at a rapid pace through the middle of this year, although core inflation would ease at a slower pace. (Reporting by Choonsik Yoo; Editing by Kim Coghill)
SEOUL (Reuters) – South Korea’s factory activity shrank for a 10th consecutive month in April and for its longest streak in six years, a survey showed on Tuesday, underlining the weak global demand conditions that continue to undercut the domestic economic recovery. The S&P Global’s seasonally adjusted purchasing managers’ index (PMI) for South Korean manufacturers …
South Korea factory activity shrinks in April, marks longest downturn in 6 years – PMI Read More »
By James Pomfret and Angel Woo HONG KONG (Reuters) -China is increasingly barring people from leaving the country, including foreign executives, a jarring message as the authorities say the country is open for business after three years of tight COVID-19 restrictions. Scores of Chinese and foreigners have been ensnared by exit bans, according to a …
China’s exit bans multiply as political control tightens under Xi Read More »
