India's GDP expands 1.6% in January-March quarter
NEW DELHI -- India's economy grew 1.6% in the January to March quarter but recorded a contraction of 7.3% for the fiscal year that ended in March owing to the hit from the COVID-19 pandemic, official data released on Monday showed.
Ahead of the data release, a Reuters poll of economists forecast 1.0% growth for the three months through March. India's economy saw contractions in the quarters that ended in June and September last year, before turning positive
Crypto crash dashes dreams of South Korea's lost generation
SEOUL -- For one young woman attending university in South Korea's capital, the recent roller coaster ride of cryptocurrency values -- dubbed a week of hell from market watchers -- has left her in a constant state of panic.
"I can't think of anything... It's completely unbearable," she said.
Like many South Koreans her age, she threw a considerable amount of her savings, 1 million won ($900), into the virtual currency as a way
Myanmar coup latest: Tatmadaw uses heavy weapons on Karenni
YANGON/BANGKOK -- Myanmar's military on Feb. 1 detained State Counselor Aung San Suu Kyi and President Win Myint in the country's first coup since 1988, bringing an end to a decade of civilian rule.
The Suu Kyi-led National League for Democracy had won a landslide in a general election in November . But the military has claimed the election was marred by fraud.
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Toyota and Honda shut production as Malaysia enters lockdown
SINGAPORE/TOKYO -- Japanese automakers Toyota Motor and Honda Motor will shut down production in Malaysia on Tuesday as the nation goes into a lockdown, raising concerns that surging coronavirus cases in Southeast Asia will cripple global supply chains.
Malaysia imposes a nationwide lockdown on Tuesday, shutting most industries through June 14. Auto manufacturers and steelmakers will be permitted to continue operating but may send only 10% of their employees to work, while electronics, chemical and pharmaceutical companies will be limited to 60%.
Malaysia, Thailand
China's three-child policy aims to head off demographic crisis
BEIJING -- China will permit all married couples to have up to three children, hoping to avert a population crisis stemming from declining births.
The Communist Party's Politburo decided Monday to ease the current two-child restriction, without specifying when the change will take effect.
China ended its longtime one-child policy in 2016, seeking to reverse the falling birthrate, but the trend continued. With the country's labor pool shrinking and the population aging rapidly, the party leadership decided to relax its
Are markets ready for a cyclical inflation shock?
Richard Coghlan and Chris Faulkner-MacDonagh are portfolio managers in the global multi-asset division at T. Rowe Price in Tokyo and Baltimore.
Inflation concerns have sparked a great debate in markets, especially with the recent news that prices in the core personal consumption expenditure index-the Federal Reserve's preferred inflation measure stripping out volatile food and energy prices-rose a larger-than-expected 3.1% in April over the same period in 2020.
Still, the prevailing view is that this current
'Womenomics' advocate Kathy Matsui debuts venture capital fund
TOKYO -- Kathy Matsui, an early Japanese proponent of empowering women in the workplace, has established a $150 million venture capital fund focusing on environmental, social and governance investing.
The former vice chair and chief Japan equity strategist of Goldman Sachs Japan announced the launch of the MPower Partners Fund on Monday. Japan's Sompo Holdings, Dai-ichi Life Insurance and Sumitomo Mitsui Trust Holdings are major investors.
In the male-dominated venture capital sector, the new fund is expected to be one of the
Myanmar violence, hunger and ruin risk deeper refugee crisis
BANGKOK -- A bitter tide of internally displaced persons, or IDPs, is washing up along the historically fractious Myanmar-Thailand border as fighting spreads into new areas.
Over 50,000 people from some 150 villages were reported to have fled their homes around Loikaw and Demoso in the north of Kayah State and Shan State's southerly Pekon township after fighting erupted on May 21.
The Karenni People's Defence Force overran and torched a remote police station in Htee Se Khar north of Loikaw
Sony and Suzuki join investors focused on digital transformation
TOKYO -- Sony Group, Suzuki Motor and other big Japanese companies are set to back a fund focused on investing in new companies that are developing technologies related to digital transformation and decarbonization, Nikkei has learned.
The companies will participate in a startup investment fund to be launched by California-based venture capital firm WiL in June with a maximum fund size of 100 billion yen ($911 million).
As of the end of May, 18 Japanese companies had decided to invest in the fund,
Australia and New Zealand tout Indo-Pacific ties, reject 'coercion'
SYDNEY -- The prime ministers of Australia and New Zealand on Monday presented a united front against hardball trade diplomacy and for human rights, while promising the Indo-Pacific region more assistance with COVID-19.
"The prime ministers affirmed their strong support for open rules-based trade that is based on market principles," Australia's Scott Morrison and New Zealand's Jacinda Ardern said in a joint statement wrapping up their annual leaders' dialogue.
The statement barely mentions China by name and its ongoing trade embargoes