China Prepares $142 Billion Bank Support Amid The Crisis.
According to Bloomberg, China plans to add $1 trillion yuan ($142 billion) to its biggest state banks by issuing new special sovereign bonds to strengthen them against the weakening economy. However, the details are not yet public and are subject to change. Bloomberg further mentions that “China is rushing to
Hong Kong Loses Its Financial Businesses to Singapore!
Hong Kong continues to bear Beijing’s burden; it is losing financial business to Singapore amid growing financial challenges in China. Moreover, according to a report published by the Economist Intelligence Unit (EIU), ongoing economic turmoil in China will help Japan, India, and Singapore become new financial hubs in Asia. The
Nikkei Falls 2.4% as Global Markets React to U.S. Slowdown
Asian share markets experienced a significant slide on Monday, September 9, 2024, amid concerns about a potential U.S. economic downturn, which had already impacted Wall Street. Japan’s Nikkei index felt the effects the most, falling 2.4% more on top of a nearly 6% decline the previous week, driven primarily by
Tesla’s EV Production Frontier in China for 2025
Tesla, a leading manufacturer of electric cars, is all set to launch 6-seat variants of its model Y with scaling production by 2025 in China. As the US automakers strive to increase their appeal for the best-selling electric vehicles, Tesla plans to direct suppliers to enhance production for the Shanghai
Asia Markets Plunge to 6-Month Low Due to China Slowdown
China’s economy is struggling due to slow economic growth, impacting the manufacturing and real estate sectors. Asian market indexes like the Nikkei 225 Index of Tokyo fell to -0.16%, while Hong Kong’s HSI index slid down by -1.77%. The benchmarks of Australia and China slipped, while for South Korea, they
Sri Lanka Extends Free Tourist Visas to 35 Nations
In an attempt to boost its tourism sector, Sri Lanka has approved free tourist visas for visitors from 35 nations. According to the policy, tourists from India, China, the UK, Germany, Netherlands, Belgium, Spain, Australia, Denmark, Poland, Kazakhstan, Saudi Arabia, UAE, Nepal, Indonesia, Russia, Thailand, Malaysia, Japan, France and more
PwC Loses Another Mega Client in China: Who Is To Blame?
PricewaterhouseCoopers (PwC), one of the biggest auditors in the world, has lost more than a dozen of its Chinese clients in the last two years. In May 2024, the company lost five of its major clients: China Taiping Insurance Holdings, China Merchants Bank, People’s Insurance Company of China, China Railway
Japan Stock Plunge As Much As 7% Amid Asia Sell-Off
Japan’s stock market witnessed a significant drop last week, plugging up to 7% and nearing bear market territory. This dramatic drop is one of the steepest for the Tokyo Stock Exchange in recent years, driven by fears of global economic slowdown, trade tension between the US and China, and monetary
ASEAN Outpacing China’s Economy Growth With FDIs
Recently, for the first time in a decade, Southeast Asia has attracted more Foreign Direct Investment or FDI than China as investors shift faster toward building “China + 1” supply chains amid manufacturing costs and rising tariffs. Based on the report of Southeast Asia Outlook, 2024-2034 shared a robust economic
Strategic Challenge: Japan & US Upgrade Security Ties
China’s rapid military buildup and aggressive actions have worried and panicked many global leaders. As a result, Japan and the US have expanded their security tie-up to offer enhanced border protection. The top diplomatic and defence officials have confirmed that both nations will take concrete steps to strengthen defence cooperation
