SKorea plans $15 bln extra budget to boost economy
SEOUL, South Korea -- The South Korean government proposed a $15.3 billion stimulus Tuesday to boost slowing growth in Asia's fourth-largest economy....
Market update: Asian bonds
The prominence of bonds in the global and regional financial markets over the past two years has ensured that coverage of the assets has been relentless and comprehensive. With trends fast-moving and uncertainty high, this broad article aims to bring the reader up to date on many of the key trends facing the corporate, government and RMB-denominated bond markets in Asia.
Japan’s Nikkei Jumps Above 13,000 on BOJ Stimulus
(BANGKOK) — Japan’s benchmark stock index surged above 13,000 for the first time in more than four years Friday, a day after the country’s central bank announced aggressive action to lift the economy out of an extended slump. The Bank of Japan unveiled plans Thursday to pump huge amounts of money into the financial system in order to spur spending and borrowing in an economy that has suffered from growth-crippling deflation for years. The central bank’s announcement dragged down the yen, giving a boost to shares of Japan’s powerhouse manufacturers. A cheaper currency makes Japanese goods less costly for Americans and other foreigners and raises the value of repatriated profits. The Nikkei 225 in Tokyo soared 3.8 percent to 13,109.58, its highest level since August 2008. The dollar rose to 97.06 yen from 96.13 yen late Thursday. The dollar was at about 92.80 before the BOJ’s two-day policy meeting ended with its dramatic announcements Thursday. (MORE: Japan Central Bank Revamps ...
Indonesia struggles to solve politically toxic fuel subsidy problem
JAKARTA - Scraping out a living on $5 a day, taxi driver Sukarjo fears losing what many poor Indonesians see as the main economic help they get from their government: a subsidy that allows for Asia's cheapest fuel prices.
Found more than 1 month ago on channel Reuters
Welcome to North Korea! Inside the Growing Business of Geopolitical Adventure Tourism
Dylan Harris runs Lupine Travel, a U.K.-based travel agency offering tours of geopolitical hotspots like Iran, Chernobyl, and Dennis Rodman’s new favorite vacation destination: North Korea. Although it has placed economic sanctions on the isolated totalitarian state because of its nuclear program — and issued warnings for those traveling to the country — the U.S. government does not prohibit Americans from traveling to North Korea. We spoke to Harris about growing interest in travel to North Korea and what visitors can expect. Harris says Lupine’s bookings to North Korea doubled in 2012 to around 600, about half from Asia and the rest from the U.S., the European Union, and Australia. His company’s four-day tours of North Korea cost between $780 to $1,100, depending on the time of year, not including airfare to Asia. (Americans also must pay an additional $430 for the flight from China because they’re barred from entering North Korea by train.) When arranging a tour, Harris’s ...