Tag: Asia Economy
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India, Indonesia, China to see biggest jump in real salary in 2024
This year, nine out of 12 places in Asia-Pacific received the highest real salary increases in the world, ECA International reported. TOSHIFUMI KITAMURA | AFP | Getty Images Workers in Asia-Pacific are predicted to receive the biggest real pay increase in 2024, according to ECA International. The average real salary increase — which is nominal…
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Global rice markets are in crisis amid ‘artificial’ shortage
Rice is a crucial staple for over half the global population and the world is bracing for its most significant shortage in 20 years. India’s export ban on rice is reverberating through global rice markets, threatening food security if developing nations cannot afford or access rice. “The only shortage out there right now would really…
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Tencent-backed J&T Express fell in Hong Kong IPO debut
Courier handing over package asking female customer to do electronic signature, delivering, receiving, efficiency 10’000 Hours | Digitalvision | Getty Images Shares of Indonesia’s J&T Express fell 1.33% when it went public on Friday. The logistics service provider traded at 11.84 Hong Kong dollars ($1.51) on Friday morning, after opening at HK$12. The HK$3.92 billion…
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Southeast Asia looks to renewable power for energy security
The floating solar photovoltaic power plant by EDPR Sunseap Group, a unit of Energias de Portugal SA, in Woodlands, in Singapore, on Wednesday, Dec. 7, 2022. Bryan van der Beek | Bloomberg | Getty Images Southeast Asia is home to some of the world’s fastest-growing economies. As energy demand grows, the region is turning to…
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Singapore exports fall for 12th month in September but recovery seen
Containers are loaded on the premises of the port operator PSA, the Port of Singapore Authority (PSA), at the Port of Singapore on 14 June 2022. Bernd von Jutrczenka | Picture Alliance | Getty Images Singapore’s exports fell for a 12th straight month in September on a year-on-year basis as the trade-reliant economy grappled again with global headwinds on inflation and declining…
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Cities are fighting back against overtourism: Venice, Amsterdam, Bali
From overtourism to no tourism — and back again. Many cities have come full circle to worrying about too many tourists rather than too few. The rise of budget airlines, short-term home rentals and cruise ships are part of the problem, said Lionel Saul, a research assistant and visiting lecturer at EHL Hospitality Business…
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Indonesia could be the ‘gateway’ to EV investments in ASEAN
Korean automobile manufacturer Kia displays the electric vehicle “EV6 GT-Line” during the 30th Gaikindo Indonesia International Auto Show in Tangerang on August 10, 2023. Yasuyoshi Chiba | Afp | Getty Images Indonesia’s EV-friendly policies have lured global investors to the country, but experts say they could also boost investments in Southeast Asia’s automotive industry more…
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Indonesia’s China-backed high-speed train sparks concerns of debt trap
Indonesia is starting trial runs for its first high-speed train, which will connect the capital Jakarta to a neighboring city of Bandung, after years of delays and cost overruns plagued the project. Bloomberg | Bloomberg | Getty Images A $7.3 billion high-speed electric rail line between Indonesia’s two biggest cities is set to be launched…
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Asia food inflation fears rise as rice prices surge
An undated stock photo of a market stall with piles of many varieties of Vietnamese rice in Ho Chi Minh city grocery. Vietnam is one of the largest exporters of quality rice, Asia’s most important staple food. Bicho_raro | Istock | Getty Images A perfect storm may be brewing in Asia. Rice prices surged to…
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ASEAN moves closer to economic unity with new regional payments system
Indonesian President Joko Widodo makes a speech during the Association of Southeast Asian Nations (ASEAN) Foreign Minister’s Meeting in Jakarta, Indonesia on July 14, 2023. Murat Gok | Anadolu Agency | Getty Images A new regional cross-border payment system recently implemented by Southeast Asian nations could deepen financial integration among participants, bringing the ASEAN bloc…