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Economy asian news

Kate Rogers - GlobalFoundries races to find semiconductor talent as demand for chips soars - cnbc.com

GlobalFoundries races to find semiconductor talent as demand for chips soars

The semiconductor industry is recruiting workers in a tight labor market as the competition for talent ramps up and funding from the CHIPS and Science Act designed to spur domestic production continues to be dispersed.

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Biman Mukherji - India’s Modi expected to curb populist welfare spending in pro-growth budget - scmp.com - Japan - India - Germany

India’s Modi expected to curb populist welfare spending in pro-growth budget

Modi’s ruling Bharatiya Janata Party (BJP) is dependent on coalition allies in the National Democratic Alliance (NDA) following the loss of 63 seats in the April-June elections, which reduced the BJP’s tally to 240 from 303 seats in 2019.

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Narendra Modi - Reuters - India asks utilities to order $33 billion in equipment this year to boost coal power output, Reuters reports citing sources - cnbc.com - India

India asks utilities to order $33 billion in equipment this year to boost coal power output, Reuters reports citing sources

India has asked power companies to order equipment worth $33 billion this year to fast track capacity additions of coal-fired power in the years ahead, as the South Asian nation struggles to meet booming electricity demand, two government officials said.

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Nikkei staff writers - Japan's May GDP shrank 0.1% on weak consumption: JCER - asia.nikkei.com - Japan - city Tokyo

Japan's May GDP shrank 0.1% on weak consumption: JCER

TOKYO -- Japan's economy in May shrank an annualized 0.1% from the previous month as weak private consumption led to the first contraction since January, according to an estimate released Tuesday by the Japan Center for Economic Research.

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Biman Mukherji - Asia’s economies beckon UK, France after Europe’s election earthquakes - scmp.com - France - China - Russia - India - Britain - Ukraine - city New Delhi

Asia’s economies beckon UK, France after Europe’s election earthquakes

“They see Asian tiger economies and political systems as being in a state of transition,” said British political and security analyst Christopher Blackburn. “These countries already have good regional infrastructure. But Europe can help with boosting and accelerating wealth, development, and human potential.”

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Jeff Cox - Fed Chair Powell says holding rates high for too long could jeopardize economic growth - cnbc.com - county Jerome - city Powell, county Jerome

Fed Chair Powell says holding rates high for too long could jeopardize economic growth

Federal Reserve Chair Jerome Powell on Tuesday expressed concern that holding interest rates too high for too long could jeopardize economic growth.

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Biman Mukherji - New Delhi’s water crisis spotlights threat to India’s booming economy as climate change takes toll - scmp.com - India - county Day - city New Delhi

New Delhi’s water crisis spotlights threat to India’s booming economy as climate change takes toll

India’s capital, New Delhi is caught in two extremes of a water crisis.

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Reuters - Singapore’s economy expands on back of manufacturing sector rebound - scmp.com - Singapore - city Singapore

Singapore’s economy expands on back of manufacturing sector rebound

The better than expected figure and an upwards revision to first quarter data to 3.0 per cent led economists to upgrade their gross domestic product (GDP) forecasts for the year. Singapore’s trade-dependent economy often functions as a bellwether for the economic health of Asia that belies its size.

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