Japan to Reduce Its Restrictions on Defence Exports
Japan on Tuesday took the biggest step in its trading history, shifting the major policies on defence exports. The move aims at selling weapons like warships, missiles, and other military equipment. This is one of the biggest policy changes in decades, strengthening Japan’s defence industrial base. Japan imposed strong restrictions
Philippines Factory Growth Slows with Rising Costs in March
A stumble in the factory hit the Philippines in March, as soaring power bills and pricier supplies dragged down output, aligning with customer needs, fresh data show. S&P Global’s recent report highlights shifts in PMI numbers, with the index dropping sharply to 51.3 after sitting at 54.6 just a month
Asia’s Manufacturing Struggles as Orders Drop and Tariffs Bite
Asia’s manufacturing sectors faced continued challenges in November, with factory activity declining across key economies amid sluggish demand. Despite some positive signs from U.S. trade negotiations, these improvements have yet to translate into a notable recovery in orders. Several purchasing managers’ indices (PMIs) released on Monday revealed varied conditions regionally:
Malaysia Insurance Growth Driven by Digital & Reforms
Malaysia’s non-life insurance sector is positioned for steady growth, buoyed by economic recovery, regulatory advances, and an increase in digital adoption, according to AM Best’s APAC Insurance Market Report. The country is classified as a CRT-3 rating, indicating low economic risk with moderate political and financial system risks. In 2024,
Samsung Q3 Profit Soars as AI Drives Chip Price Surge
Samsung Electronics is anticipated to record its highest third-quarter profit since 2022, driven by increased memory chip prices amid rising server demand as inventories are replenished. Analysts estimate an operating profit of around $7.11 billion for July-September, reflecting a 10% increase year-over-year. This recovery is largely attributed to improved pricing
Bangladesh Allows US Wheat Imports to Reduce Trade Friction
Bangladesh has struck a $68 million government deal to buy 220,000 metric tons of U.S. wheat, aiming to ease trade tensions caused by U.S. import tariffs. The Cabinet Committee on Government Purchase approved the deal on Tuesday, with Singapore’s Agrocorp International, authorized by U.S. Wheat Associates, set to supply the
BYD Builds Export Momentum, Expects 20% Sales Abroad
Chinese EV leader BYD anticipates that exports will account for about 20% of its global sales this year, driven by improved logistics and new model launches. The Shenzhen-based automaker projects to deliver between 800,000 and 1 million vehicles outside mainland China in 2025, out of an expected total of 4.6
Singapore Pushes Meta to Tackle Scams or Risk Sanctions
Singapore police have mandated that Meta implement anti-scam measures on its social media platform Facebook to prevent impersonation of key government officials and combat online scams. This directive is the first under Singapore’s new Online Criminal Harms Act, which became law in February 2024, and companies could face fines of
China Bets Digital Yuan Move to Boost Global Influence
China is considering greenlighting yuan-backed stablecoins to help boost the currency’s international use, signaling a major shift in its approach to digital assets, according to sources. China’s cabinet is expected to review a plan this month to boost the yuan’s global presence, including steps to keep pace with U.S. progress
SoftBank Stock Sinks 9% in Asia Tech Meltdown
SoftBank Group’s shares declined 9.17% on Wednesday amid a broader tech sell-off in Asia after U.S. stocks fell overnight. SoftBank’s stock fell for a second day after the company announced a $2 billion investment in Intel. Meanwhile, Intel shares rallied nearly 7% on Tuesday, closing at $25.31 in U.S. trading.
