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Japan's economy contracts annualised 1.0% in Q1
TOKYO: Japan's economy fell for the first time in two quarters in the first three months of the year as COVID-19 curbs hit the service sector and the Ukraine war and surging commodity prices created new headaches for consumers and businesses.
Russia forecasts 7.8 pct GDP contraction in 2022
MOSCOW, May 17 (Xinhua) -- The Russian Ministry of Economic Development on Tuesday expected the country's gross domestic product (GDP) to decease by 7.8 percent year on year in 2022.
Germany pushes towards energy independence from Russia
BERLIN, May 17 (Xinhua) -- The German government's new plan seeks to encourage all segments of society to use energy more efficiently in order to reduce the country's dependence on Russian fossil fuels by next winter.
Thai GDP growth tops forecast, but Ukraine war haunts outlook
BANGKOK: Thailand’s economy grew faster than expected in the first quarter, supported by a pickup in agriculture and an easing of Covid-19 curbs, but higher inflation remained a drag on a fragile recovery.
War and heatwave driving up wheat prices
PETALING JAYA: Local traders are expecting a price hike and supply shock as global wheat prices soar to record highs as a result of a double whammy – the Russian-Ukraine war and India’s ban on exports.
Iraq baulks at greater Chinese control of its oilfields
IRAQ’S oil ministry thwarted three prospective deals last year that would have handed Chinese firms more control over its oilfields and led to an exodus of international oil majors that Baghdad wants to invest in its creaking economy.
Malaysia not at risk of recession
PUTRAJAYA: Malaysia is not at risk of recession and is on track to meet forecast economic growth targets of between 5.3% and 6.3% this year, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz says.
Farmers on a slick, slippery slope
The last couple of weeks have been difficult for Sumochtar, a 51-year-old oil palm farmer living in the Nagan Raya regency of Indonesia’s Aceh province. His daily income has slumped so drastically that he could not even afford rice for feeding his wife and three kids.
