Tag: Inflation
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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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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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Oil prices fall ahead of more central bank steers on interest rates
This aerial photo shows the Enping 15-1 oil platform 200 km southwest of Shenzhen, south China, May 31, 2023. Mao Siqian | Xinhua News Agency | Getty Images Oil prices fell in early Asian trade on Thursday after falling by the most in a month in the previous session on U.S. interest rate hike expectations, and…
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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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Hong Kong retains spot as most expensive business destination in Asia
Hong Kong has been named the most expensive location in Asia for business travelers — for the second year in a row, according to a new report. ECA International’s latest Daily Rates research ranked countries based on costs for short trip expenses: four-star hotel rooms, meals, laundry, alcoholic and soft drinks, journeys by taxi and…
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Indonesia says economy is more resilient to absorb inflation shocks
Indonesia is taking steps to make its economy more resilient so it can withstand global shocks like inflation, especially from the United States, said Finance Minister Sri Mulyani Indrawati. As the world’s largest economy, what the U.S. does has strong implications worldwide, including Indonesia, said the minister. To fight inflation, the U.S. has hiked interest…