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

FAO chief warns conflicts, climate likely to fuel more food crises

This handout picture taken and released by the Turkish Defence ministry press office on Aug 3, 2022, shows an inspection delegation member inspecting the Sierra Leone-flagged cargo ship Razoni carrying 26,000 tonnes of corn from Ukraine, off the coast of north-west Istanbul. (TURKISH DEFENSE MINISTRY / AFP) ROME – The head of the United Nations […]

High prices could deepen demand destruction in energy markets: Expert

SINGAPORE – Energy prices have soared globally this year but could face downside pressure in 2023 as prolonged high prices are expected to deepen demand destruction. This is the view of Mr Saugata Saha, president of S&P Global Commodity Insights, on the sidelines of the Asia Pacific Petroleum Conference, which kicked off in Singapore on Monday. It […]

Condo resale volume falls for 4th straight month in August, prices continue to rise

SINGAPORE – Condominium resale volume fell for the fourth consecutive month in August, as sales activity typically slows down in the seventh month of the lunar calendar during the Hungry Ghost Festival. However, condo resale prices continue to hold strong, edging up 1.2 per cent for the 25th straight month in August, according to flash […]

Australia home prices post steepest drop in almost four decades

SYDNEY (BLOOMBERG) – Australian home prices recorded their largest monthly decline in almost four decades in August, with rising interest rates expected to drive further falls this year and next. Sydney, Australia’s largest market, slid 2.3 per cent, Melbourne dropped 1.2 per cent and Brisbane fell 1.8 per cent, property consultancy CoreLogic said in a […]

Carrefour to freeze prices on 100 products to tackle inflation

PARIS (REUTERS) – French supermarket retailer Carrefour says it will freeze the prices on 100 of its products to help French people tackle soaring inflation in the country. Carrefour’s move follows that of other leading French companies which have also taken steps to help the country’s consumers deal with the record inflation, following pressure from […]

Transition to green economy must be orderly to keep inflation in check, job market stable: MAS chief

SINGAPORE – Decarbonising the global economy will induce inflation and trigger a major reset of the labour market, said Mr Ravi Menon, managing director of the Monetary Authority of Singapore (MAS). However, an orderly transition to a greener economy may help keep both inflationary pressures and the disruption in labour markets manageable, he said at […]