eChina.news

Economy

Indonesia posts 5.61% GDP growth in first quarter, buoyed by Eid spending

Government subsidies tame inflation, but risks loom as rupiah hits new low Millions of Indonesian Muslims traveled to their hometowns for Eid al-Fitr, which fell in late March this year. Increased household spending during the holiday helped the economy grow 5.61% on an annualized basis in the first quarter of 2026. © Reuters JAKARTA -- Indonesia on Tuesday reported 5.61% year-on-year economic growth for the January-March quarter as government subsidies supported spending during the Islamic fasting month of Ramadan and the Eid al-Fitr holiday.

May 6, 2026

Economy

India-Russia pact allows troops and warships on each other’s soil

Analysts say agreement deepens trust despite Moscow's close China ties The Russian missile ship Naro-Fominsk, left, sails along the Neva River in Saint Petersburg, Russia, in July 2024. Indian Navy sailors stand on the deck of the INS Mahe. (Source photos by Reuters) NEW DELHI -- India and Russia have taken their defense ties to a new high in the form of a new pact under which they can share military bases, ports and airfields, and station up to 3,000 troops in each other's territory.

May 6, 2026

Economy

CK Hutchison to sell VodafoneThree stake for $5.8bn

Hong Kong conglomerate boosts cash reserves to pursue acquisitions CK Hutchison Group Telecom's announcement that it is exiting from VodafoneThree comes three months after its parent said it has agreed to sell its entire stake in UK Power Networks. (CK Hutchison website) HONG KONG -- A unit of the CK Hutchison group said Tuesday it will sell its entire stake in U.K. phone operator VodafoneThree for 4.3 billion pounds ($5.8 billion) as the Hong Kong conglomerate builds its cash reserves.

May 6, 2026

Economy

Moody’s readies stablecoin ratings as Asian market takes shape

Credit agency aims to assess risk of different currency-pegged crypto offerings The digital economy team at Moody's is trying to adapt its ratings and services to emerging technologies such as blockchain and artificial intelligence. (Nikkei montage/Source photos by Reuters) TOKYO -- Moody's Ratings is preparing to issue credit evaluations for stablecoins using its own methodology, aiming to meet rising investor demand as digital assets gain traction in Asia and beyond.

May 6, 2026

Economy

The rupee is eroding in value despite India’s dramatic growth

The RBI's ineffective currency management: New Delhi should take responsibility A vendor displays various denominations of Indian currency at a roadside currency exchange stall in the old quarters of Delhi, India, February 2, 2026. © Reuters Karan Mehrishi is the author of "The India Collective: What India is Really All About" and the forthcoming "The Making of Monetary Policy in India: Imagining the Future."

May 6, 2026

Economy

Japan seeks more involvement in Angola oil, minerals during Africa tour

Top Tokyo diplomat also visits other big China trade partners Kenya, Zambia and South Africa A meeting between foreign ministers from Japan and Angola on May 1. (Japan's Ministry of Foreign Affairs) TOKYO -- Japan is making a new push to bolster economic ties with African nations rich in crude oil and industrial minerals, as the Middle East conflict highlights risks to the country's energy supply.

May 6, 2026

Economy

Japan’s NYK Line plans shipping network in fast-growing East Africa

Peer Nippon Express eyes India as relay point to Nigeria and South Africa Yusen Logistics has teamed up with Africa Global Logistics to establish a joint venture in Kenya. (Photo obtained by Nikkei) TOKYO -- Japanese shipping company Nippon Yusen will establish a transport network in East Africa, eyeing demand in high-growth economies along the Indian Ocean Rim.

May 6, 2026

Economy

Asian markets rally as Trump signals optimism for Iran deal

Vessels in the Strait of Hormuz, seen from Musandam, Oman, on May 1. © Reuters HONG KONG -- Markets across Asia rallied Wednesday after U.S. President Donald Trump signaled that a deal to end the war with Iran could be within reach.

May 6, 2026

Economy

AI to power megadeals in global M&A despite Iran worries

App icons of generative AI assistants. Artificial intelligence is expected to be a catalyst fueling large M&A deals. (Photo by Hazumu Urushiyama) Japan turns into dealmaking hot spot; overinvestment and lack of specialists are major risks TOKYO -- Artificial intelligence is fueling a new wave of global mergers and acquisitions, with Japan emerging as a key hub for dealmaking, bankers say, despite anxieties sparked by the U.S.-Israel war with Iran.

May 6, 2026

Economy

Toyota to use hydrogen-powered trucks for US auto shipments

Japanese automaker partners with Texas-based firm for zero-emission transport Toyota will ship cars and car parts using zero-emission trucks in the U.S. (Toyota Motor) BOSTON, Massachusetts -- Toyota Motor will use 40 fuel cell trucks for transporting cars and car parts in the U.S. under a partnership with Texas-based Hyroad Energy.

May 6, 2026

Economy

Japan’s Mirumi plush robots aim to go worldwide with cute glances

Charms set to go on sale for limited time in Hong Kong and London The Mirumi plush robots come in gray, ivory and pink. (Photo by Marimi Kishimoto) TOKYO -- Mirumi may be on the verge of becoming a surprise global hit, with the googly-eyed, Japanese-made robotic companion landing on shelves in Hong Kong and London.

May 6, 2026

Economy

Soaring aluminum, plastics prices push up costs for auto parts makers

Supply chain disruptions from Iran war could reach vehicle prices later The wholesale price of aluminum bullion in Japan is up more than 20% since the end of February. (Photo obtained by Nikkei) TOKYO -- The prolonged conflict in the Middle East is boosting prices of materials used in automobiles like aluminum and plastics, with concerns growing that the trend will trickle downstream and eventually raise vehicle prices as well.

May 6, 2026