Press releases about business, cryptocurrency, fintech and more news in Hong Kong and Asia

G20 Digital Innovation Network (DIN): Catalyst for Digital Economy Growth in Indonesia

Nusa Dua, Bali, Sep 19, 2022 – (ACN Newswire via – The G20 Digital Innovation Network (DIN) meeting is able to be a catalyst to expedite the digital economy sector development in Indonesia, said Minister Johnny G Plate, Indonesian Ministry of Communication and Informatics (KOMINFO). The event aims to bring together start-ups, venture capital […]

S’pore needs to build new growth engines to remain competitive and continue investing in its people: Gan Kim Yong

SINGAPORE – New engines of growth are needed to strengthen Singapore’s economic resilience, even as it continues to invest in its people so the workforce remains relevant. Trade and Industry Minister Gan Kim Yong said there is a need to identify new opportunities for Singapore to remain competitive amid headwinds in the global economy. As […]

China factory activity contracts for second month as risks grow

BEIJING (REUTERS) – China’s factory activity extended declines in August as new Covid-19 infections, the worst heatwaves in decades and an embattled property sector weighed on production, a survey showed on Wednesday (Aug 31). The official manufacturing purchasing managers’ Index (PMI) rose to 49.4 in August from 49.0 in July, the National Bureau of Statistics (NBS) […]

Japan sees economy picking up modestly, flags looming risks

TOKYO (REUTERS) – Japan’s government described its economy as “moderately picking up” in its monthly economic report, keeping the overall assessment unchanged from the previous month, while noting an upward revision to factory output. While sounding cautiously optimistic on the world’s No. 3 economy, the government flagged risks of a global downturn amid an overseas […]

Singapore, Malaysia conclude frameworks for further cooperation in digital and green economies

SINGAPORE – Singapore and Malaysia have substantively concluded frameworks of cooperation in the digital and green economies, further deepening bilateral economic collaboration. The two countries have agreed to work towards signing both frameworks by the end of this year, Singapore’s Ministry of Trade and Industry announced in a statement on Tuesday (Aug 23). The frameworks […]

Singapore economy set for further slowdown as demand deteriorates worldwide

SINGAPORE – Singapore’s economy is set for a significant slowdown in this half of the year with demand for goods and services facing challenges both at home and abroad, analysts said. Rising living costs and higher interest rates are likely to squeeze household and business spending alike, risking growth at both consumer-facing and trade-driven sectors […]

Temasek and Votorantim launch $965 million fund to invest in Brazil

SAO PAULO (REUTERS) – Singapore’s Temasek Holdings and Brazil’s Votorantim group teamed up to launch a US$700 million (S$965 million) fund to invest in Brazilian companies, they said in a joint statement on Tuesday (Aug 9). The investment fund, called 23S Capital, will target long-term investments in high-growth sectors of the Brazilian economy, the companies […]

Enhancing data governance through the 3rd DEWG meeting

JAKARTA, Aug 9, 2022 – (ACN Newswire via – The implementation of equitable and inclusive Data Free Flow with Trust (DFFT) and Cross-Border Data Flow (CBDF) had become crucial issues nowadays as data traffic between countries kept increasing. Hence, as chairman of the 2022 G20 presidency, Indonesia proposed four principles of fairness, lawfulness, transparency, […]

China’s trade surplus at record as exports beat expectations

BEIJIING (BLOOMBERG) – China’s trade surplus rose to a record as exports grew faster than expected, easing some concerns over waning global demand and providing support for an economy battling sporadic Covid-19 outbreaks and property woes. The nation’s trade balance climbed to about US$101 billion (S$139.4 billion) in July, surpassing the previous record set in […]

Japan on track for modest recovery for now after factory output jump

TOKYO (BLOOMBERG) – Japan’s economy likely made a moderate recovery in the second quarter as manufacturing output rebounded strongly after China eased Covid-19 lockdown rules in Shanghai, reducing supply disruptions that had rippled through the region’s factories. Output of cars, electronics parts and communications equipment led an 8.9 per cent gain in industrial production in June […]

US Fed raises interest rate by 75 basis points to fight inflation, signals third hike possible

WASHINGTON (BLOOMBERG) – Federal Reserve officials raised interest rates by 75 basis points for the second straight month and chairman Jerome Powell said a similar move was possible again, while rejecting speculation that the US economy is in recession. Policy makers, facing the hottest cost pressures in 40 years, lifted the target for the federal funds […]