Economy coverage

A survey by the Singapore Chinese Chamber of Commerce and Industry found that rising business costs are the top concern for Singapore companies, cited by 71.8% of respondents, with only 34% expecting revenue growth this year, down from 39% in 2025.

Japan's real household spending fell 3.3% year-on-year in June, the seventh straight monthly decline, government data showed Friday. Average household spending was 290,886 yen (about $1,840), with declines across food, dining out, consumables, and transportation categories.

Indonesia plans to produce permanent magnets using rare earth elements by 2028 as part of efforts to build an integrated domestic supply chain from mineral processing to electric vehicles, Danantara Chief Technology Officer Sigit Puji Santosa said Wednesday in Jakarta.

Bangladesh's inflation eased to 8.32 percent in July from 9.16 percent in June, according to the Bangladesh Bureau of Statistics. Food inflation fell sharply to 7.16 percent, while non-food inflation edged down to 9.28 percent.

The Zhuangzicun super-large high-speed railway bridge has achieved closure in the Three Gorges Reservoir area of Chongqing Municipality in southwest China, forming part of a 350 km/h rail corridor between Xi'an and Chongqing.

China's central government will issue 6 billion yuan (about 884 million U.S. dollars) of sovereign bonds to professional investors in the Macao SAR on Aug. 20, the Ministry of Finance and Macao SAR government announced. The issuance marks the fifth consecutive year of renminbi-denominated sovereign bonds in Macao, which officials said demonstrates central government support for Macao's economic diversification and financial sector competitiveness.

Russian banks will refuse to process transfers when malicious software is detected on a customer's device starting March 1, 2027, under Federal Law No. 210-FZ signed on June 26, 2026, TASS reports. The rule covers bank card operations, electronic money transfers, and Faster Payments System transfers, requiring banks to inform clients of the refusal and suggest using another device or visiting a branch.

A Russian State Duma deputy told TASS that new cryptocurrency rules take effect September 1: digital currency is classified as property, exchanges must go through Bank of Russia-registered intermediaries, retail investors face a 300,000-ruble annual purchase cap per intermediary, and crypto can be used in foreign trade settlements.

South Africa and the Asian Infrastructure Investment Bank signed a $500 million sovereign-backed loan agreement, AIIB's first investment in South Africa, to support the South Africa Metro Trading Services Program aimed at improving urban water, electricity and waste management services across eight metropolitan municipalities.

China's central bank, the People's Bank of China (PBOC), said on Friday it renewed and expanded its bilateral currency swap agreement with Malaysia's central bank, Bank Negara Malaysia. The swap amount rises from 180 billion yuan (about 110 billion ringgit) to 220 billion yuan (about 130 billion ringgit) and is valid for five years, extendable by mutual consent, according to the PBOC.