Consumer spending jumped in July as retail sales were up 1%, much better than expected
Consumer spending held up even better than expected in July as inflation pressures showed more signs of easing, the Commerce Department reported Thursday.
Recent Developments and News in Asia
‘Not punching bags’: India’s doctors demand better staff protection after rape-murder case
India’s medical fraternity is up in arms over the rape and murder of a 31-year-old trainee doctor, with the horrific case sparking strikes by professionals and women’s groups across the country, as well as demands for stronger staff security.
In India, stock market regulator’s alleged links with billionaire group sparks political row
A record-breaking run in India’s stock markets that has made it a cynosure of global investors is being overshadowed by a political row over the chief stock market regulator’s alleged links to the controversial Adani business group.
Australia, Britain, US drop defence trade barriers to propel Aukus
Australia, the United States and Britain have removed significant barriers on defence trade between the Aukus partners and opened the way for faster approvals for highly sensitive technologies, Australian officials said.
Record 39 candidates to run in Sri Lanka’s presidential election
Economy remains key issue after protesters angered by financial crisis toppled President Gotabaya Rajapaksa in 2022.
Japan ends ‘megaquake’ special caution week after finding no immediate risk
TOKYO (AP) — Japan’s government Thursday ended a weeklong information campaign urging caution and preparedness for a possible “megaquake” — an earthquake of magnitude 8 strength or higher — striking the Pacific coast. The announcement came after no abnormal seismic activity was detected during the past week.
Philippines poverty rate at 15.5% in 2023, statistics agency says
MANILA — The Philippines' poverty rate dropped to 15.5 per cent last year from 18.1 per cent in 2021, with rising food prices limiting the reduction in the number of poor, the government's statistics agency said on Thursday (Aug 15).
Thailand's Pheu Thai party to decide PM candidate as parliamentary vote looms
BANGKOK — Thailand's Pheu Thai party to decide PM candidate as parliamentary vote looms The biggest party in Thailand's caretaker government met on Thursday (Aug 15) to choose a successor for dismissed premier Srettha Thavisin, as it races to shore up alliances a day ahead of a pivotal parliamentary vote on a new prime minister.