Page 3 - Asian Economy

Inflation risk has peaked in Asia; rate hikes may moderate: Morgan Stanley

Inflation as measured by the CPI index stood at 7.04 in May 2022, higher than the Reserve Bank of India's (RBI's) comfort zone of 2 - 6 per cent

Crisis-hit Sri Lanka's economy shrinks 1.6% in the March quarter

The contraction likely marks the beginning of a painful and long recession for the country

US defence secretary urges united front in Asia to stop repeat of Ukraine

US Secretary of Defense Lloyd Austin vowed to help Asian nations push back against Chinese "bullying," describing the efforts as necessary to prevent a repeat of the Ukraine crisis in the Pacific

Indian inflation likely accelerated to an 18-month high in April: Report

Food inflation, which accounts for nearly half the consumer price index (CPI) basket, reached a multi-month high in March

Sri Lankan tea pickers' dreams shattered as nation faces economic crisis

The Covid-19 pandemic severed the tourism lifeline of the Indian Ocean nation, already short of revenue in the wake of steep tax cuts by the government.

Structural weakness of Pakistani economy driving away investors: Report

The long-standing structural weakness of Pakistan's economy, aggravated by the global challenges of the Covid-19 pandemic and the Ukraine-Russia war, is scaring away the investors in the country

Russia-Ukraine war may expose 42% India firms to significant risks: Moody's

The military conflict between Russia and Ukraine is impacting companies in Asia Pacific

Sri Lankan delegation heads to US to seek $4 bn bailout package from IMF

A Sri Lankan government delegation is headed to the US as it desperately tries to salvage the country's beleaguered economy

Soaring food, energy prices reach Asia to bring global inflation in sync

The turning point was Russia's invasion of Ukraine, which triggered an upheaval in commodities markets.

Lanka oppn threatens no-confidence motion, industry warns of 'precipice'

President Gotabaya Rajapaksa is running his administration with only a handful of ministers after his entire cabinet resigned this week

Sri Lanka must restructure $1 bn debt, needs stability: Outgoing finmin

With its foreign exchange reserves shrinking quickly, massive debt payments due and the rupee currency slumping, analysts say the government is running out of options

Surging prices nudge Asia's reluctant central bank hawks off the sidelines

There has been a marked shift in the language of some of the region's less hawkish central banks on worries the renewed surge in commodity costs

Sri Lanka's political crisis should end with snap election: Nanayakkara

Sri Lanka's ongoing political turmoil triggered by the country's unprecedented economic crisis can be ended with a snap election, veteran left-wing politician Vasudeva Nanayakkara said on Wednesday

Sanjay Raut terms Lanka's situation 'worrisome', warns India on same path

Shiv Sena leader Sanjay Raut on Tuesday called Sri Lanka's situation "worrisome" and cautioned that India would be on the same path if the rising inflation is not tackled.

Lankan economic crisis: Rajapaksa's grip on power weakens, FM resigns

The parliamentary majority of Sri Lanka's ruling coalition headed by President Rajapaksa has come under threat with dissident lawmakers, led by former president Maithripala Sirisena

Monitoring political, economic developments in Sri Lanka very closely: IMF

The International Monetary Fund (IMF) said on Tuesday that it is monitoring political and economic developments in Sri Lanka "very closely" as public unrest in the island nation grows

World Bank says war shocks to drag on Asian economies in coming months

Disruptions to supplies of commodities, financial strains and higher prices are among the impacts of the war in Ukraine that will slow economies in Asia in coming months, says the World Bank

Asia's factory activity slows as Ukraine crisis, inflation bite

China's factory activity slumped at the fastest pace in two years in March, a private sector purchasing managers' index (PMI) showed on Friday

Asian shares drop as Russia's Putin orders troops into eastern Ukraine

Shares fell sharply in Asia on Tuesday after Russian President Vladimir Putin ordered troops into separatist regions of eastern Ukraine, suggesting a long-feared invasion was possibly underway. Tokyo's Nikkei 225 index dropped 1.8per cent and the Hang Seng in Hong Kong fell 3.2per cent in early trading. Oil prices jumped, with U.S. crude up 2.8per cent. The future for the S&P 500 dropped 1.5per cent while the contract for the Dow industrials lost 1.3per cent. U.S. markets were closed Monday for Presidents Day. In Europe, shares slipped Monday as investors awaited developments in the Ukraine crisis. Germany's DAX gave up 2.1per cent. In Paris, the CAC 40 in Paris declined 2per cent. Britain's FTSE 100 fell 0.3per cent. Russia's MOEX index dropped nearly 11per cent. The ruble was down 3.2per cent against the U.S. dollar. Western powers fear Russia might use skirmishes in Ukraine's eastern regions as a pretext for an attack on the democracy, which has defied Moscow's attempts to pull

India to overtake Japan as Asia's 2nd largest economy by 2030: IHS

Currently, India is the sixth-largest economy in the world, behind the US, China, Japan, Germany and the United Kingdom