Page 5 - Asia Economy

Covid LIVE: 8 new Omicron cases in Maharashtra today; 7 from Mumbai

Till date, a total of 28 patients infected with Omicron have been reported in the state

World's largest equity capital deals of 2021 have emerged out of Asia

Asian firms also accounted for most large issuances of convertible bonds

Asian factories shake off lockdown blues, now face supply headaches

Factory activity in October expanded in Vietnam, Indonesia and Malaysia as operations gradually normalised after being hit by shutdowns caused by a spike in COVID-19 infections.

GDP levels in Asia to exceed pre-Covid path from 1Q22: Morgan Stanley

Covid-19 remains an overhang on the near-term growth outlook of Asia and lockdown measures are constraining consumption growth, Morgan Stanley said on Friday.Strength in exports and capex has lifted Asia's overall GDP closer to its pre-Covid path, but consumption remains below its pre-Covid path, it said in a research report titled 'The Viewpoint: The Next Phase in Asia's Recovery' authored by Chetan Ahya, Derrick Y Kam and Jonathan Cheung.However, the report forecast vaccination rates for adult population reaching 80 per cent or higher in 10 out of 12 economies (accounting for 95 per cent of the region's GDP) in the region by 4Q21."These high rates of vaccinations will allow policymakers to shift their Covid management strategy and allow restrictions to be relaxed, which we expect in turn lead to a full-fledged recovery in growth from early next year."Powered by all its engines, said the report, Asia's growth momentum should improve in the coming quarters. GDP levels will exceed ...

Saudis raise oil prices for Asian customers as market tightens in Covid-19

The kingdom sends more than 60% of its exports to Asia, with China, India, South Korea and Japan being the biggest buyers.

From best to worst: A 2020 winner in stock market is now the biggest loser

Health care is Asia's worst-performing sector this year

Asian factories shake off Covid-19 hit, tighter controls cloud outlook

Asian factory activity expanded moderately in December thanks to robust demand in regional giant China, business surveys showed on Monday

Pakistan's economy to grow 1.5-2.5% in current fiscal, says report

Cash-strapped Pakistan's economy, which has been hit hard by the coronavirus pandemic, will turn around and grow 1.5-2.5 per cent in the current fiscal year, according to the country's central bank. In its annual report for the fiscal 2019-20 released on Wednesday, the State Bank of Pakistan (SBP) said the nation's economy seems poised to pick up from where it was before the COVID-19 shock, The Express Tribune reported on Wednesday. Pakistan's central bank has projected that the COVID-19 hit national economy will turn around and grow 1.5-2.5 per cent in the current fiscal year, the report said. Like other nations, Pakistan's economy has been hit hard by the coronavirus effect that has so far claimed the lives of 7,248 people and infected 365,927 others in the country. Pakistan has already been in a deep financial crisis and has been negotiating a bailout package from the International Monetary fund, apart from taking massive financial help from its close allies, including China. W

Citigroup to hire 6,000 youth in Asia as unemployment numbers rise

It's also offering 60,000 job training opportunities for youth below the age of 24 over the next three years across its retail and institutional businesses in the region

Asian economy to shrink, first time since 1960s, thanks to Covid-19: ADB

In India, where lockdowns have stalled private spending, GDP will shrink by 9% this year, sharply down from June's forecast of -4%

Policy measures may not offset Covid-19 economic damage in APAC: Moody's

Though Asia's external & fiscal buffers are generally more robust than those in other regions, equipping governments with more policy space, their policy responses will only cushion some of the impact

Covid-19: Asia's growth may see first halt in 60 years in 2020, says IMF

sia's economy is likely to suffer zero growth this year for the first time in 60 years, the IMF said in a report on the Asia-Pacific region

'Asian Century:' A reality check

Book review of RESURGENT ASIA: Diversity in Development

Carrot-and-stick economic model won't work everywhere: Deepak Nayyar

In his book, 'Resurgent Asia: Diversity in Development', Nayyar writes that Asia, is set to regain its dominant position in the global architecture

US-China trade tensions to dampen Asia's growth prospects, says ADB

ADB also slashed its growth estimate for India to 6.5 per cent from 7 per cent

Oil traders worry over Asia's weakening economy, record supplies

Ship-tracking data shows a record of more than 22 million barrels per day (bpd) of crude oil hitting Asia's main markets in November