Latest news with #Asia
Reuters
23 minutes ago
- Automotive
- Reuters
Foxconn to soon announce another Japanese auto partner, chairman says
TAIPEI, May 29 (Reuters) - Taiwan's Foxconn ( opens new tab will soon announce another Japanese auto partner, Chairman Young Liu said on Thursday. Foxconn subsidiary Foxtron Vehicle Technologies ( opens new tab and Japanese automaker Mitsubishi Motors (7211.T), opens new tab this month signed a memorandum of understanding for the supply of an electric vehicle model.
Washington Post
29 minutes ago
- Business
- Washington Post
South Korea's central bank cuts borrowing costs to nurse the sluggish economy
SEOUL, South Korea — South Korea's central bank cut its key interest rate and sharply lowered its growth outlook for the country's economy in 2025, as it moved Thursday to counter U.S. President Donald Trump's tariff hikes and weak domestic demand worsened by recent political turmoil. Following a monetary policy meeting, the Bank of Korea cut its benchmark interest rate by a quarter percentage point to 2.5%. It was its fourth cut since October, when it began lowering borrowing costs for the first time in years to support a weakening economy. The bank slashed its 2025 growth outlook to 0.8%, nearly halving its previous projection of 1.5% announced in February. Share prices jumped, with the Kospi gaining 1.7%. Although trade tensions have recently eased, the global economy is still expected to slow due to the lingering effects of increased tariffs. U.S.-China friction over trade and geopolitical uncertainties will continue to weigh on markets, the bank said in a statement. South Korea's domestic economic activity remained sluggish in April following a contraction in the first quarter driven by weak consumption and business investment, the bank said. It said job creation in manufacturing and other sectors was slow. Since beginning his second term, Trump has vowed to slap huge new tariffs on foreign products entering the United States, including those from Mexico, Canada and China, which he insists will create more domestic jobs and shrink the federal deficit. In recent weeks, South Korea has sent trade officials to Washington to discuss the Trump administration's trade measures, including reciprocal tariffs and potential product-specific duties on semiconductors and cars, which are major exports for the country's trade-dependent economy. A decision by a U.S. federal court saying Trump lacks the legal authority to impose such tariffs could upset his plans, but the White House has appealed and it's unclear what will happen in the longer run. Experts say South Korea's leverage in trade talks and its ability to tackle domestic economic challenges have been undermined by political instability after former President Yoon Suk Yeol's ill-fated imposition of martial law in December. Yoon was formally ousted from office in April, setting the stage for a snap presidential election next week.
Associated Press
33 minutes ago
- Business
- Associated Press
South Korea's central bank cuts borrowing costs to nurse the sluggish economy
SEOUL, South Korea (AP) — South Korea's central bank cut its key interest rate and sharply lowered its growth outlook for the country's economy in 2025, as it moved Thursday to counter U.S. President Donald Trump's tariff hikes and weak domestic demand worsened by recent political turmoil. Following a monetary policy meeting, the Bank of Korea cut its benchmark interest rate by a quarter percentage point to 2.5%. It was its fourth cut since October, when it began lowering borrowing costs for the first time in years to support a weakening economy. The bank slashed its 2025 growth outlook to 0.8%, nearly halving its previous projection of 1.5% announced in February. Share prices jumped, with the Kospi gaining 1.7%. Although trade tensions have recently eased, the global economy is still expected to slow due to the lingering effects of increased tariffs. U.S.-China friction over trade and geopolitical uncertainties will continue to weigh on markets, the bank said in a statement. South Korea's domestic economic activity remained sluggish in April following a contraction in the first quarter driven by weak consumption and business investment, the bank said. It said job creation in manufacturing and other sectors was slow. Since beginning his second term, Trump has vowed to slap huge new tariffs on foreign products entering the United States, including those from Mexico, Canada and China, which he insists will create more domestic jobs and shrink the federal deficit. In recent weeks, South Korea has sent trade officials to Washington to discuss the Trump administration's trade measures, including reciprocal tariffs and potential product-specific duties on semiconductors and cars, which are major exports for the country's trade-dependent economy. A decision by a U.S. federal court saying Trump lacks the legal authority to impose such tariffs could upset his plans, but the White House has appealed and it's unclear what will happen in the longer run. Experts say South Korea's leverage in trade talks and its ability to tackle domestic economic challenges have been undermined by political instability after former President Yoon Suk Yeol's ill-fated imposition of martial law in December. Yoon was formally ousted from office in April, setting the stage for a snap presidential election next week.
The Independent
34 minutes ago
- Business
- The Independent
South Korea's central bank cuts borrowing costs to nurse the sluggish economy
South Korea's central bank cut its key interest rate and sharply lowered its growth outlook for the country's economy in 2025, as it moved Thursday to counter U.S. President Donald Trump's tariff hikes and weak domestic demand worsened by recent political turmoil. Following a monetary policy meeting, the Bank of Korea cut its benchmark interest rate by a quarter percentage point to 2.5%. It was its fourth cut since October, when it began lowering borrowing costs for the first time in years to support a weakening economy. The bank slashed its 2025 growth outlook to 0.8%, nearly halving its previous projection of 1.5% announced in February. Share prices jumped, with the Kospi gaining 1.7%. Although trade tensions have recently eased, the global economy is still expected to slow due to the lingering effects of increased tariffs. U.S.- China friction over trade and geopolitical uncertainties will continue to weigh on markets, the bank said in a statement. South Korea's domestic economic activity remained sluggish in April following a contraction in the first quarter driven by weak consumption and business investment, the bank said. It said job creation in manufacturing and other sectors was slow. Since beginning his second term, Trump has vowed to slap huge new tariffs on foreign products entering the United States, including those from Mexico, Canada and China, which he insists will create more domestic jobs and shrink the federal deficit. In recent weeks, South Korea has sent trade officials to Washington to discuss the Trump administration's trade measures, including reciprocal tariffs and potential product-specific duties on semiconductors and cars, which are major exports for the country's trade-dependent economy. A decision by a U.S. federal court saying Trump lacks the legal authority to impose such tariffs could upset his plans, but the White House has appealed and it's unclear what will happen in the longer run. Experts say South Korea's leverage in trade talks and its ability to tackle domestic economic challenges have been undermined by political instability after former President Yoon Suk Yeol's ill-fated imposition of martial law in December. Yoon was formally ousted from office in April, setting the stage for a snap presidential election next week.
Malay Mail
34 minutes ago
- Business
- Malay Mail
6 Super Wow Tips for Finding the "Real Deals" on Lazada's 6.6 Super Wow Sale
time slots Date Time 31 May 2025 8pm-2am (1 June) 1 June 2025 12pm-2pm, 8pm-12am 5 June 2025 8pm-12am 6-8 June 2025 12am-2am, 12pm-2pm, 8pm-12am KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 29 May 2025 - Lazada's 6.6 Super Wow Sale is just around the corner, and it's shaping up to be the ultimate shopping event of the season! With June on the horizon, this mega sale kicks off the mid-year shopping frenzy, bringing unbeatable discounts across electronics, beauty, home essentials, fashion and much it's a wardrobe refresher, upgrading tech, or snagging amazing deals on household must-haves, the 6.6 sale has something for everyone. To help shoppers snag the real deals, Lazada shares six tips that can help consumers shop smarter, save more, and make the most of its 6.6 Super Wow Sale!Although Lazada's 6.6 Super Wow Sale officially kicks off on 31 May 2025 at 8pm and runs until 8 June 2025, shoppers can already start grabbing those bargains with Chup Dulu – exclusive offers that lock in the best prices ahead of time. Consumers simply need to pay a fraction of the product's price to secure a deal, then pay the balance on 1 June to beat the 6.6 Super Wow Sale also offers Crazy Brand Mega Offers, which is available only at specific times. These time-sensitive bargains offer discounts of up to 90% off and are available only during theseThere are also special promotions for early bird promotions from 7am-10am, as well as a Happy Hour Sale every day from significant savings when checking out with Campaign Vouchers, which offer up to RM1,000 off, plus daily Semua Free Shipping vouchers from the Voucher Centre that can help reduce delivery costs. Additionally, many popular sellers may offer additional discounts of up to 70% off with their own vouchers. These vouchers can often be stacked, depending on availability, for even greater value during the 2 to 5 June, exclusive savings abound on Lazada with daily themed shopping events, each offering special deals for one day only. Stock up on groceries and home necessities in bulk for better value with LazMart on 2 June, then grab the latest smart tech and appliances with deals under RM1,200 from LazGadgets on 3 June. On 4 June, enjoy comfort and convenience with Home & Lifestyle, offering everything from automotive goods and sports essentials, to home décor and more at exceptional value. Finally, on 5 June, Style & Glow brings the trendiest beauty and fashion essentials from renowned brands, Korea, China, and unbeatable value not commonly found elsewhere, Lazada's 6.6 sale features over RM60,000 worth of products from more than 30 top brands, priced at just RM16. From travel gear to home appliances and fashion accessories, these All Out Deals cover it all. Keep an eye on the Lazada app daily for the must-have steals of the day, which drops at 3pm and 9pm daily throughout the campaign, and be ready to check out in a flash — as only the quickest shoppers will score these incredible bargains!Participating brands include Airwheel, American Tourister, Amgras, Beacon Mart, Bose, CANNON, Cricut, Dreame, Ecovacs, Epitex, GAIAS, Habib, Hisense, HONOR, Jean Perry, Levoit, Karcher, KitchenZ, Korkmaz, OGAWA, Razer, Sampoint, Samsonite, SellinCostAsia, Sonos, Ted Baker, Thule, Tineco, TTRacing, Universal Traveller, and extra savings and a chance to win iconic products, simply search for Lazada 66 Match and Win on Google to find the microsite , where shoppers can get RM6 Lazada vouchers daily. Plus, shoppers who share the Match & Win card on TikTok with the hashtags #LazadaMY and #Lazada66MatchAndWin will stand a chance to win grand prizes, including gadgets, beauty products, and more from top brands like Apple, AMIRO, Anker, Dyson, Estee Lauder, LEGO, La Mer, PopMart, Rascals, Sulwhasoo, TRAPO, and many others! Winners will be announced on LazLive on 6 June at can look forward to a worry-free experience this sale season with Lazada's easy and convenient returns process. Change of mind return is available as an option for most product categories. Whether it's a fashion item that doesn't quite fit or a colour that isn't the right match, customers can request for a return in just a few clicks on their app. With free pick-up and drop-off options available, Lazada takes the hassle out of returns — so everyone can shop the best deals with confidence. For more information on Lazada's change of mind policy, click here to find out that shoppers are armed with these tips, get ready to make the most of Lazada's 6.6 Super Wow Sale come 31 May at 8pm! From brand-new products to exclusive deals, Lazada has Malaysia covered with real deals and massive savings not to be more details on the sale, check out the Lazada App or followon social media for the latest updates!Hashtag: #LazadaMY #Lazada The issuer is solely responsible for the content of this announcement. About Lazada Group Lazada Group is Southeast Asia's pioneer eCommerce platform. For the last 13 years, Lazada has been accelerating progress in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam through commerce and technology. Today, a thriving local ecosystem links about 160 million active users to more than one million actively-selling sellers every month, who are transacting safely and securely via trusted payments channels and Lazada Wallet, receiving parcels through a homegrown logistics network that has become the largest in the region
