IMF unveils crypto plan, advising against legal tender status
Global lender recommends countries craft crypto policies that ‘safeguard monetary sovereignty and stability’.
Economy
Indonesia’s palm oil tycoon Darmadi gets 15 years for corruption
Surya Darmadi ordered to repay the state equivalent of $2.6bn over corruption scheme that cleared protected forests.
A year into Ukraine war, Asian brands sit out Russia boycotts
Fewer than 100 Asia-based firms have suspended or scaled back their Russia operations, according to database.
How China and India’s appetite for oil and gas kept Russia afloat
Russia’s economy has been able to weather Western-led sanctions in large part due to strong energy exports.
US nominates ex Mastercard CEO Ajay Banga to head World Bank
India-born Banga has close ties to emerging markets, useful to the Bank which wants to help them on pressing problems.
Canada’s imports from Russia dipped nearly 80% since Ukraine invasion
Industry Canada data show that between March and December 2022, the value of total imports from Russia plunged 78 per cent to $414 million.
China urged to place ‘wellbeing’ above GDP amid climate threat
Economists say China should adopt new development model to meet its net-zero emissions goals.
A year into war, Ukrainians are plugging Japan’s tech talent gap
A scholarship programme aims to help displaced Ukrainians find jobs while addressing Japan’s chronic labour shortages.
Hong Kong flags handouts to support recovery from COVID shock
Government says it will issue vouchers worth 5,000 Hong Kong dollars to all adults this year to help economic recovery.
South Korea to scrap some COVID tests for travellers from China
South Korean authorities will no longer require arrivals from China to do a COVID test from next month.