The latest statistics released by South Korea’s Bureau of Statistics have unveiled a concerning trend in the country’s birth rate. September marked a significant downturn, recording the lowest number of births in the past three years. The data reveals a stark decline, with only 18,707 babies born in September, marking a staggering 14.6% decrease compared […]
South Korea Records Lowest Birth Rate in Three Years Read More »
The Bank of Korea (BOK) unveiled that South Korea’s business confidence lingered in a sluggish state throughout November, primarily due to weakened domestic consumption. According to the BOK, South Korea’s Business Sentiment Index (BSI) for all industries stagnated at 70 in November, signifying a persistent pessimistic outlook among businesses toward the economic landscape. An index
South Korea’s Business Confidence Remains Subdued in November Amidst Weak Demand Read More »
Toyota Motor Company, a prominent Japanese automotive manufacturer, disclosed a remarkable surge in global automobile production, reaching an all-time high for October, totaling 900,285 vehicles, a year-on-year increase of 16.7%. Simultaneously, global car sales experienced a notable uptick, rising by 7% to 890,241 units. The substantial escalation in Toyota’s car production is primarily attributed to
Toyota Achieves Global Production Milestone Post Chip Shortage Resolution Read More »
In a unanimous decision, Thailand’s Monetary Policy Committee (MPC) has opted to maintain the policy interest rate at 2.50% per annum, signaling an optimistic outlook for the country’s overall economic recovery. While acknowledging an anticipated deceleration in the export sector and related production, the MPC foresees a more balanced expansion in the Thai economy for
Vietnam’s parliament has sanctioned the extension of the Value Added Tax (VAT) reduction on goods and services until the conclusion of June 2024, aiming to fortify the nation’s economy. The decision to maintain VAT at 8%, down from the usual 10%, intends to invigorate domestic consumption and production. This initiative comes as Vietnam, an export-dependent
Vietnam Extends VAT Reduction until Mid-2024 in Bid to Bolster Economy Read More »
The Executive Vice President of Toyota Motor Thailand Co., Ltd. disclosed a downturn in Thailand’s automobile market sales for October 2023, recording 58,963 vehicle sales, marking an 8.8% decrease compared to the corresponding period last year. Amidst this, passenger car sales witnessed growth, up by 13.7% with 22,130 vehicles sold, primarily fueled by an expansion
Tightened Lending Dips Thailand’s October Auto Sales by 8.8% Read More »
The Director of the Fiscal Policy Office (FPO) unveiled a positive trajectory for the Thai economy in October 2023, citing robust support from expanding merchandise exports, ongoing growth in the tourism sector driven by both foreign tourists and local visitors, and a continued downtrend in the inflation rate. The Thai economy received a notable boost
Thai Economy Bolstered by Exports and Tourism in October; Inflation Shows Decline Read More »
The New Zealand dollar experienced a significant surge of 1%, nearly reaching the $0.62 mark, following the Reserve Bank of New Zealand’s (RBNZ) decision to maintain its policy interest rate at 5.5%. The central bank also issued warnings of potential upcoming rate hikes aimed at curbing inflationary pressures. This announcement prompted a robust upswing in
New Zealand Dollar Surges 1% as Reserve Bank Holds Rates, Hints at Future Hike Read More »
A US congressman has demanded that Shein, a prominent Chinese online fashion brand, furnish evidence proving the absence of forced labor in the production of its clothing items, specifically T-shirts and sweaters. This call from US congressional members follows recent reports that Shein has filed for an initial public offering (IPO) with the US Securities
US Pressures Shein for Proof Against Forced Labor Cases Prior to IPO Approval Read More »
Australia witnessed a slowdown in its inflation rate for October, marking a departure from two consecutive months of upward movement. This development lends credence to the likelihood that the Reserve Bank of Australia (RBA) may commence phasing out its series of interest rate hikes in the upcoming week. Data released by the Australian Bureau of