Asia

India eases new real estate tax rules following criticism

On July 23, India lowered the long-term capital gains tax on real estate to 12.5 percent from 20 percent

China’s foreign trade hits $3.46 trillion in Jan-Jul 2024, defying economic headwinds

The country's exports rose 6.7 percent year-on-year to 14.26 trillion yuan during the period

China’s 20 key tasks aim to revive consumer spending across entertainment, tourism and more

The tasks urged increased credit support for critical areas of service consumption to reinvigorate weak domestic demand

China’s new international land-sea trade corridor connects over 520 ports worldwide

More than 30,000 China-Europe freight trains have operated via the trade corridor

Japanese stocks rebound after biggest slip since 1987 Black Monday, Nikkei up 10.23 percent

From July 11 to Monday's crash, the Nikkei index lost $792 billion off its peak market value

South Korea’s exports extend 10-month growth streak in July, rise 13.9 percent to $57.4 billion

South Korea's exports of semiconductors grew for the ninth consecutive month, rising 50.4 percent in July

China broils under record-breaking temperatures, data reveals hottest July since 1961

Weathercasters warn the intense heat is far from over and is expected to persist into August

South Korea’s industrial output declines 0.1 percent in June, retail sales and facility investment rebound

The construction sector and public administration saw declines of 0.3 percent and 5.1 percent respectively

China’s July non-manufacturing activity expands: PMI

The NBS composite PMI in China, which includes manufacturing and services, recorded 50.2 in June

Bank of Japan surprises with rate hike for second time since 2007, trims bond buying

The central bank raised its short-term policy rate to levels not seen since 2008, defying market expectations

China boosts global gold demand as purchases surge 46.02 percent in H1 2024

National gold consumption in China declined 5.61 percent annually to 523.75 metric tons

Ola Electric IPO, India’s biggest this year, set to raise $734 million

A term sheet for the IPO, which will run from August 1 to 6, values Ola Electric at $4 billion

South Korea’s foreign tourist arrivals recover to 96 percent of pre-pandemic levels in June

Chinese tourists remained the top visitors to Korea with 397,000 arrivals in June

China sees 5.4-fold jump in inbound tourism, welcoming over 4.36 million visitors in H1 2024

The number of international travelers entering China under the 72/144-hour visa-free transit policies quadrupled YoY

Malaysia applies to join BRICS, strengthening bilateral relations with Russia

Malaysia's bid to join BRICS was a key agenda item in India's PM's meeting with the Russian Foreign Minister

EU, Singapore conclude negotiations for landmark Digital Trade Agreement

The agreement aims to build trust, ensure predictability for businesses, and remove barriers to digital trade

Apple’s China smartphone shipments fall 6.5 percent as local players dominate: Report

Vivo reclaimed the top spot in China with 13.1 million smartphone shipments, capturing a 19 percent market share

Is Japan facing a profound demographic crisis as its population drops by over 500,000 in 2023?

The country’s birth rate hit a record low of 730,000 in 2023, while deaths reached a record high of 1.58 million

China’s central bank lends at lower rates for second time this week

Central bank issued $27.5 billion in one-year loans under its medium-term lending facility operation at 2.30 percent

India to invest $24 billion in job creation over next five years, $131.51 billion on long-term infrastructure projects

"India's economic growth continues to be the shining exception and will remain so in the years ahead," the minister said

China’s fiscal revenue fell 2.8 percent YoY to $1.62 trillion in H1 2024

A breakdown of the data showed that the central government collected around 5 trillion yuan in fiscal revenue

PetroChina joins COP28’s oil & gas decarbonization charter

With the addition of PetroChina, the charter's signatories now represent more than 42 percent of global oil production

Beijing foreign trade volume hits record-high $256.61 billion in H1 2024

Emerging industries stood out as key contributors to export growth in Beijing, accounting for 27.8 percent of city's total exports

China cuts lending rates to boost economic growth following weaker Q2 GDP data

One-year loan prime rate (LPR) declined to 3.35 percent, while the five-year LPR was reduced to 3.85 percent