Economy


  • Filter by

Funding Societies, Lazada in SME financing tie-up

KUALA LUMPUR: Peer-to-peer (P2P) financing platform, Funding Societies Malaysia is cooperating with Lazada Malaysia to offer short-term and e-commerce financing, specifically for traders on Lazada e-commerce platform.

Co-founder and chief executive officer of Funding Societies, Wong Kah Meng(pic) said his company understands the difficulties faced by e-commerce traders in securing financing to build their online business, where they are often neglected by traditional financial institutions

South Korea cuts growth forecast

SEOUL: President Moon Jae-in’s government lowered its growth forecast for this year as South Korea’s economy continues to be battered by a downturn in the tech cycle and global trade woes.

BoJ policymaker sees no need for immediate easing

HIROSHIMA: The Bank of Japan (BoJ) does not need to ramp up monetary stimulus for now as a moderate recovery is expected later in the year but should be ready to loosen policy further if external pressure on the economy intensifies, board member Yukitoshi Funo said yesterday.

The comments from Funo were the most direct signal to date by a BoJ policymaker that the central bank was in no rush to expand stimulus as long as the economy sustains a moderate recovery.

Under pressure from Trump, Opec embraces Putin

VIENNA: When Vladimir Putin announced at the weekend that Opec would extend oil production cuts, broadcasting a deal before the group had even met to approve it, the move angered some member nations.

Reality soon set in, and the acceptance that Putin could help Opec in its goal of propping up oil prices at a time when it is facing intensifying heat on another front: from US President Donald Trump

EU picks Lagarde to head ECB

LONDON: Eurozone bond yields hit new record lows yesterday after a decision by European Union leaders to pick France’s Christine Lagarde as next European Central Bank (ECB) chief reassured markets that the central bank’s dovish stance would remain in place.

Centurium Capital raises US$2bil from Singapore's Temasek and others

HONG KONG: China’s Centurium Capital, a big backer of domestic startup Luckin Coffee, said it has raised more than US$2bil in its debut fund, giving the private equity firm more firepower to cut deals involving the world’s second largest economy.

Trade uncertainty, lacklustre data drag Hong Kong shares lower

HONG Kong shares ended weaker on Wednesday as investors reconsidered their initial enthusiasm over a truce in trade dispute between Washington and Beijing, while fresh data pointed to further weakness in the Chinese economy.

Korea cuts growth forecasts on trade war, chip slump

SEOUL: President Moon Jae-in’s government lowered its growth forecast for this year as South Korea’s economy continues to be battered by a downturn in the tech cycle and global trade woes.