archiveAsian

TRAVELERS from the Asia-Pacific region are more conscious of foreign exchange rate fluctuations compared to their Western counterparts, according to a new study by data and services group Mastercard Economics Institute. Its report, "Travel Trends 2025: Purpose-Driven Journeys," analyzed 24 major tourism markets which account for nearly 80 percent of global gross domestic product.Data showed that inbound tourism — particularly among travelers from Asia — tends to slow down when a destination's currency depreciates. "Travelers from Asia tend to be more sensitive to exchange rate shifts, as such movements can...

Asian stocks battled to hold ground on Tuesday after a furious flight from US assets undermined Wall Street and the dollar, while concerns about the independence of the Federal Reserve piled fresh pressure on Treasuries.Relatively limited losses in Asia did spark talk that funds could be reallocating money to equities in the area, though the impact of tariffs on economic growth remained a major drag.President Donald Trump’s increasingly vocal attacks on Fed Chair Jerome Powell for not cutting interest rates saw Wall Street indexes shed around 2.4 per cent on...

Currency volatility across the region has jumped ever since the larger-than-expected new US tariffs were announced last week. (EPA Images pic) BEIJING: President Donald Trump’s US tariff whiplash and the Chinese yuan’s trajectory will likely keep Asian currency volatility elevated. Currency volatility across the region has jumped ever since the larger-than-expected new US tariffs were announced last week, while foreign currency options signal increased bearishness. Concerns over economic growth have also driven more aggressive bets that regional central banks will cut interest rates. Uncertainty could remain high, even as Trump...

KUWAIT CITY, March 26: The Counterfeiting and Forgery Investigations Department of the Criminal Security Sector, under the leadership of Major General Hamed Al-Dawas, has referred an Asian expatriate to the Public Prosecution on charges of counterfeiting Kuwaiti currency. The case file includes 19,000 Kuwaiti dinars in counterfeit banknotes (denominations of 20 and 10 dinars) from the fifth edition of the currency.Details of the CrimeInvestigations revealed that the accused, who worked at the Central Bank of Kuwait, believed his position would enable him to fraudulently exchange the counterfeit fifth-edition notes for authentic sixth-edition currency. According to a security source, the Central Bank initially detained...

Asian stocks jumped on Monday on Beijing’s fresh stimulus measures aimed at boosting consumer spending, while regional currencies traded cautiously as investors weighed mounting trade frictions that threaten global economic growth. Seoul’s benchmark climbed 1.6% to their highest since February 27, while stocks in Kuala Lumpur gained 1.1% in its third consecutive winning session. Shares in Taipei added 0.7% after advancing as much as 1.5% earlier in the session. On Sunday, China unveiled sweeping measures to boost domestic consumption, including income hikes and childcare subsidies, just days after financial regulators...