recession

  • Asia News

    Singapore at high risk of technical recession amid external challenges

    Singapore is facing a heightened risk of entering a technical recession in the second quarter as external challenges continue to impact the economy. The city-state saw a 0.4% decline in the economy during the first quarter compared to the previous three months, marking a reversal from the 0.1% growth in the fourth quarter of 2022. Singapore last experienced a technical…

  • Business News

    Bangchak Group monitors energy prices amid global recession concerns

    Energy giant Bangchak Group of Thailand is keeping a close eye on energy prices for the second quarter of this year, amid concerns of an impending global recession. The company reported a 16% increase in revenue in the first quarter. Chaiwat Kovavisarach, the group CEO and president of Bangchak Corporation Plc, expressed that crude oil prices are likely to remain…

  • Economy News

    IMF predicts a recession in Thailand

    The head of the International Monetary Fund (IMF) predicts Thailand and Southeast Asian countries will suffer from recession this year along with the rest of the world. Kristalina Georgieva believes a third of the global economy will be in recession this year, including Thailand, and Vietnam. The 69 year old Bulgarian economist reckons 2023 will be “tougher” than last year…

  • Hot News

    IMF says world economy about to hit recession

    The International Monetary Fund (IMF) warns the world economy will be in a recession as it downgraded global growth projections for next year. The IMF warned policymakers that a worldwide recession will occur if the fight against inflation is mishandled. The IMF’s bleak assessment comes after reviewing the World Economic Outlook report. According to The Straits Times, the report was…

  • Hot News

    WTO chief says world economy tipping towards recession

    The World Trade Organisation chief is echoing others in their concern over the world economy falling into a recession. WTO director-general Ngozi Okonjo-Iweala didn’t hold back when she recently commented on the situation. “The indicators are not looking good. I think a global recession-that is what I think we are edging into.” Her analysis comes as the WTO intends to…

  • Covid-19 News

    5 million deaths – 22 months of Covid-19

    Covid-19 has killed more than 5 million people across the globe, a grim milestone after nearly 20 months of lockdowns, information overload, misinformation and misery. The US has contributed the largest single body count from the coronavirus – 4% of the world’s population but 15% of the total deaths. Covid-19 is now a leading cause of death in the US,…

  • Tourism News

    Thai-Chinese Chamber of Commerce to propose Guangzhou-Phuket tourism route

    A tourism route from Guangzhou, China to Phuket could help the island province recover from the recession brought on by the pandemic and lack of foreign travel, according to the Thai-Chinese Chamber of Commerce. The president of the organisation, Narongsak Puttapornmongkol, says they plan to submit a letter proposing the route under a travel bubble scheme to the Centre for…

  • Thailand News

    Things that have changed in Thailand in the Covid Era | Top 10 | VIDEO

    Top 10 things that have changed in Thailand during the Covid-era Things have changed. In some cases they’ve changed a lot and may never be the same again. Many people are suffering as a result of the impacts of lockdowns and the border closures. Some people are being forced to re-invent their lives as a result. Here are some of…

  • World News

    Australia falls into a recession, global economies at a loss

    “Our record run of 28 consecutive years of economic growth has now officially come to an end. The cause: a once-in-a-century pandemic.” Just about everyone hit from the coronavirus pandemic. Businesses closed. Many lost their jobs. Paychecks were cut. Economies across the globe slipped into recession and Australia is now added to that list. The country reported it has sunk…

  • Covid-19 News

    When will the world open up again for travel?

    OPINION 9 months since the first outbreak in China, international borders remain mostly sealed. Most travellers, excepting certain categories, are prevented from leaving or entering in the majority of countries. The shutters went up in March and April in much of the world, a bit later in some countries, as governments and medical officials figure out how to safely re-open…

  • Asia News

    Philippines plummets in to recession as virus numbers spike

    The Philippines, reeling from Covid-19 lockdowns that have destroyed businesses and thrown millions out of work, plunged into recession after its biggest quarterly contraction on record, data showed today. The Philippine Statistics Authority says GDP 16.5% year-on-year in the second quarter as the country endured one of the world’s longest stay-at-home orders to slow the spread of the virus that’s…

  • Covid-19 News

    Singapore drops into an official recession

    Singapore, an early success story in Covid-19 containment, has now dropped into technical recession after an official second quarter report of negative growth. The Singaporean economy plunged 41.2% quarter-on-quarter, with the country’s trade-dependent economy battered by the Covid-19 crisis in the South East Asian region. Finance authorities are flagging that they expect Singapore’s GDP to shrink between 4 – 7% this…

  • Covid-19 News

    PCT – we’re all going to be suffering from Post-Coronavirus Trauma

    OPINION The sun will rise. All this utter disruption to our lives will come to an end at some time. But the hangover will linger a lot longer than the fairly sudden stop to just everything we were familiar with. Whilst economists will argue whether it’s a recession or depression, the world will go into a long re-awakening after the…

  • World News

    US Fed poised to cut rates this week

    “Hiring, while strong, has slowed. Business investment is moribund. Exports are weakening. And manufacturing – always a vital economic weather vane – is in recession.” by Douglas Gillison Facing a dauntingly uncertain economic horizon and constant criticism, including insults and demands for stimulus from the US president, the US Federal Reserve is set to cut interest rates this week. In speeches…

  • Business News

    Don’t mention the ‘R’ word – world’s biggest economies at risk of recession

    CARTOON: Financial Times Five big economies are at risk of recession – Germany, Italy, Mexico, Brazil and the UK. A recession is usually defined as two consecutive quarters of contraction in an economy. Locally Singapore and Hong Kong are teetering on technical recessions, both vital regional business hubs. The UK economy shrunk in the second quarter, and growth has flat…

  • Asia News

    Singapore economy slides closer to recession, figures worse than expected

    Singapore’s economy has tanked in Q2, slowing again after hitting the lowest rate since the global financial crisis of 2008 in Q1 this year. The Singapore Ministry of Trade and Industry pegged Singapore’s economic growth at a mere 0.1% in the second quarter of this year, well below analysts’ expectations of 1.1%, according to a Bloomberg forecast. It is also a far…