The Chinese used to be an adventurous bunch. Last year, 170 million of them travelled internationally, threatening to tip the nation into a current account deficit. Now, scarred by anti-Chinese sentiment abroad amid the pandemic, and suspicious of many things foreign, consumers are turning inward. Consider a CLSA Ltd survey of 1,600 shoppers, conducted between June 30 and July 7. ...

It looks as if the long-awaited Apple Inc subscription bundles are finally going to happen. But while it is a solid step in the right direction, the smartphone giant needs to do far more to change the game. Bloomberg News reported that Apple is preparing to launch several bundles, internally named “Apple One,” as soon as October. There will be ...

Bloomberg India’s latest set of incentives to entice businesses moving away from China seem to be working, with companies from Samsung Electronics Co to Apple Inc’s assembly partners showing interest in investing in the South Asian nation. Prime Minister Narendra Modi’s government in March announced incentives that make niche firms — electronics manufacturers — eligible for a payment of 4%-6% ...

Bloomberg Japan’s economy suffered a record contraction last quarter as a state of emergency and lockdowns in the country’s major export markets hammered consumer spending, production and exports. A recent uptick in infections threatens to slow the recovery. Gross domestic product contracted an annualised 27.8% in the three months through June from the previous quarter, the Cabinet Office reported on ...

Bloomberg Thailand’s economy contracted the most in more than two decades, deepening its recession as the nation’s key drivers of trade and tourism remain hobbled by the global coronavirus pandemic. Gross domestic product (GDP) shrank 12.2% from a year ago, the National Economic and Social Development Council said on Monday, its biggest decline since the Asian financial crisis in 1998. ...

Bloomberg China’s economic recovery continued in July with industrial growth remaining steady, even as weak retail sales undercut the rebound. Industrial output rose 4.8% in July from a year earlier, the same as in June, but lower than economists’ expectations. Overall retail sales fell 1.1%, compared to a projected 0.1% increase. The July data show that China’s recovery is still ...

Bloomberg Singapore could consider opening its borders to tourists in an effort to attract more traffic into its once-bustling airport. The city-state could unilaterally allow passengers from certain countries or regions that have kept virus cases at similar or lower levels than Singapore, Ong Ye Kung, the newly appointed transport minister, said in a speech to his staff, without naming ...

Bloomberg Belarus opposition leader Svetlana Tikhanovskaya said she’s ready to be interim president in place of incumbent Alexander Lukashenko as national strikes were starting a day after the country’s biggest opposition protest. “I am ready to take responsibility and act in this period as national leader” until new presidential elections are held, Tikhanovskaya said in a video address published on ...

Bloomberg The Philippines is looking to further reopen its economy even as coronavirus infections continue to rise, after a poll showed adult unemployment was at a record high last month. The government wants to allow more economic activity and extend aid to small businesses after 27.3 million Filipinos in a Social Weather Stations survey in early July said they were ...

Bloomberg New Zealand Prime Minister Jacinda Ardern has delayed the general election by four weeks until October 17 as the nation’s first community outbreak of Covid-19 in more than three months worsens. Ardern said on Monday she delayed the election from September 19 after consultation with other political parties, to provide certainty to voters. A fresh outbreak of the virus ...