Economy

Turkish President Tayyip Erdogan, left, is battling his toughest re-election campaign against Kemal Kilicdaroglu. (Source photos by Reuters) 
Turkey elections

Turkey's Erdogan trails rival in toughest re-election battle yet

Too early to write off longtime leader after past victories, observers caution

13 May 2023
The yen has lost strength against a range of currencies, including the Swiss franc.
Currencies

Yen near record low against Swiss franc as safe haven appeal fades

Trade deficits and BOJ policy have eroded Japanese currency's strength

13 May 2023
Some 64 million Turks are eligible to vote on Sunday, with President Recep Tayyip Erdogan, left, vying to beat key rival Kemal Kilicdaroglu. (Source photos by Reuters)
Turkey elections

Turkey heads to polls in landmark elections: 5 things to know

President Erdogan faces toughest battle of 20-year rule in tight leadership race

12 May 2023
British Chancellor of the Exchequer Jeremy Hunt talks in Tokyo on May 11. (Photo courtesy of British Embassy Tokyo)
Interview

G-7 must prepare for China's economic coercion: U.K. finance chief

Jeremy Hunt stresses importance of economic security, supply chain resilience

11 May 2023
U.S. Treasury Secretary Janet Yellen speaks during a press conference at the G-7 meeting of Finance Ministers and Central Bank Governors in Niigata, Japan on May 11. (Photo by Tomoki Mera) 
G-7 in Japan

Yellen urges G-7 to help poorer nations counter China, Russia threats

Japanese finance minister says he will listen to like-minded countries outside of the rich group

11 May 2023
ECB President Christine Lagarde hints at further increases to interest rates in an exclusive online interview with Nikkei. (Photo by Marlies Matthes)
Interview

Transcript: ECB President Christine Lagarde speaks with Nikkei

'Intrusive' oversight of banks, nonbanks needed to minimize financial risks

10 May 2023
ECB President Christine Lagarde recently spoke with Nikkei online. (Photo by Marlies Matthes)
Interview

ECB chief Lagarde hints at rate hikes amid stubborn inflation

European Central Bank president calls for stiffer regulation after crises

10 May 2023
Fragmentation in trade in services, capital flows and cross-border investment is worse than in goods trade, says Adam Posen, president of the Peterson Institute for International Economics.
Interview

Japan can be assertive with U.S. on free trade: think tank chief

Economic fragmentation will hurt innovation and growth, Adam Posen warns

9 May 2023
Global business leaders and investors gathered at the annual Milken conference in Los Angeles from April 30 to May 3. 
Business trends

India, Indonesia CEOs woo global investors as 'China plus one' options

Emerging Asia's other big economies vie for attention at Milken Conference

5 May 2023
European Central Bank (ECB) President Christine Lagarde. 
Inflation

ECB raises rates by 25 basis points to 3.25% in inflation fight

Central bank will stop reinvesting cash in Asset Purchase Programme from July

4 May 2023
The IMF's Asia and Pacific Department says risks from weakening exports to advanced economies, slowing productivity in China and a fragmentation of global trade are clouding Asia's outlook.
Bank of Japan

IMF sees uncertainty over Japan's monetary policy

Shift from ultralow rates could significantly impact globe: regional director

4 May 2023
HSBC Holdings, known for the two regal lion statues that sit outside its Asia head office in Hong Kong, will vote May 5 on a proposal to split its Asia operations from its London headquarters. 
The Big Story

HSBC battles shareholder revolt as breakup vote looms

Bank’s balancing act between U.K. and China appears increasingly untenable

3 May 2023
A container terminal in China. The U.S. and China account for more than 40% of the global economy. (cnsphoto via Reuters)
Interview

Asia stands to lose big from U.S.-China trade war: IMF Asia chief

Region's supply chain links leave it vulnerable to fragmentation, Krishna Srinivasan says

2 May 2023
Kemal Kilicdaroglu, presidential candidate of Turkey's main opposition alliance, addresses supporters in Izmir on April 30. (Handout via Reuters)
Opinion

Economic turmoil has created an opening for Turkey's opposition

Nation Alliance needs to convince voters it has better solutions than Erdogan

2 May 2023
Hiroshi Matano, executive vice president at the World Bank Group's Multilateral Investment Guarantee Agency (Photo by Kosuke Takami)
Interview

Investment in developing nations may hit 20-year low: World Bank official

Private-sector money to poorest areas is sinking, agency chief warns

2 May 2023
The Federal Reserve said its oversight of the Santa Clara, California-based bank was inadequate and that regulatory standards were too low.
Finance

Fed plans broad revamp of bank oversight after SVB failure

Regulatory weaknesses 'must be addressed,' central bank's vice chair says of review

29 April 2023
FDIC representatives speak with customers of Silicon Valley Bank outside its headquarters in Santa Clara, California on March 13.
Opinion

Role of prolonged low rates in financial turmoil can't be ignored

Macrofinancial conditions prompted Silicon Valley Bank's strategy

27 April 2023
An oil tanker and bulk carrier are seen near the Russian port of Nakhodka in December.
International relations

Pakistan eyes economic relief from Russian oil imports due in May

Delicate diplomacy, refining capacity and forex payments pose challenges

27 April 2023
An aerial view of containers and cargo vessels at China's Qingdao port in May last year.
Caixin

Vietnam, Taiwan boost share of shipments to U.S. as China loses out

India, Cambodia also grow as 'low-cost' exporters, eroding Chinese dominance

25 April 2023
A crude oil tanker near the port city of Nakhodka, Russia. India imported more than 6 million tonnes of Russian oil in March.
Commodities

India's dependence on Russian oil soars to 30%

Shift spurred by discounted prices stemming from Western sanctions

23 April 2023
The challenge for Hong Kong going forward is to maintain its ease of doing business without compromising its reputation as a responsible trading partner.
Business Spotlight

How business-friendly Hong Kong became a hub of Russian chip trade

Ease of setting up companies makes dodging sanctions easier, experts say

21 April 2023
U.S. Trade Representative Katherine Tai speaks at a media briefing in Tokyo on April 20. The U.S. is working to create the 14-nation Indo-Pacific Economic Framework. (Photo by Natsumi Kawasaki) 
Trade

U.S.-led Pacific trade framework may see results this year: USTR

U.S. Trade Representative Tai says goal is not to decouple from China

20 April 2023
Indian Finance Minister Nirmala Sitharaman, left, speaks at the G-20 finance ministers meeting in Washington. 
International relations

G-20 ministers agree on quick action for indebted nations

China, the largest creditor, key to relief amid rising interest rates

14 April 2023
Brazilian President Luiz Inacio Lula da Silva is prioritizing cooperation with other emerging economies, such as China.
International relations

Brazil's Lula departs for China, seeking deeper economic ties

Trip to meet with Xi includes anticipated new investments and business deals

12 April 2023
Nazak Nikakhtar formerly served in the U.S. Commerce Department and is now a partner at Washington law firm Wiley Rein. (Photo by Dupont Photographers)
Interview

Globalization has 'backfired': ex-Trump trade official

Nations must pick partners that help ensure security, Nazak Nikakhtar says

11 April 2023