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Wong: One in two Australians are either born overseas or have parents who were born overseas so this is a very Australian experience. - A + A SYDNEY (June 30): Visiting the Malaysian city where she was born, Australian Foreign Minister Penny Wong said her story showed that Australia was part of Asia, as new data showed more than half of Australians were born overseas or had an immigrant parent. Wong visited Kota Kinabalu, the capital of Sabah state, where she lived for eight years as a child before migrating to Australia, as part of an official visit to Malaysia. "One in two Australians are either born overseas or have parents who were born overseas so this is a very Australian experience," she told media on her first visit to Malaysia since a Labor government won office last month. "It matters that Australia speaks to South East Asia in a way that recognises that we are part of this region and our futures are shared," she said. Results of a census conducted … [Read more...] about Australia part of Asia, minister says on visit to Malaysian birthplace

In a statement, Moody's said the rupee has depreciated around 4.5 per cent since the start of the year. (Representative image) Moody's Investors Service on Thursday said global credit conditions have turned more negative amid rising borrowing costs, protracted Russia-Ukraine conflict and slower economic growth. It said the surge in energy and food costs spurred by the conflict in Ukraine is weakening the purchasing power of households, raising input costs for companies and dampening investor sentiment. Among sovereign debt issuers, debt sustainability will be especially challenging for many frontier market sovereigns as their borrowing costs climb, while their economies still have not fully recovered from the COVID-19 pandemic crisis, it said. "Global credit conditions have turned more negative and will be tighter for the rest of the year amid rising borrowing costs, the prospect of a protracted military conflict between Russia and Ukraine, materially slower growth of the … [Read more...] about Global credit conditions more negative amid rising borrowing costs, slower economic growth: Moody’s

This photo, captured from a clip from North Korea`s Central TV, shows an anti-American youth rally in Pyongyang on June 25, 2022, with a propaganda painting depicting North Korean ICBMs striking the U.S. Capitol. The rally took place on the occasion of the 72nd anniversary of the Korean War. | Yonhap via The Korea Herald/Asia News Network SEOUL — North Korea on Wednesday accused South Korea, the United States and Japan of gearing up to establish an “Asian version of Nato,” claiming that the recent move to step up trilateral military exercises is a “dangerous prelude” to that end. North Korea denounced the US for “heating up military cooperation with its puppets while neglecting the fundamental security demand and concerns in the Asia-Pacific region,” in a Korean-language article carried by the external-oriented Korean Central News Agency. “The move aims to realize the US-Japan-South Korean triangular military alliance, which is the US’ long-cherished dream, to complete its … [Read more...] about North Korea denounces US, key allies for seeking to build ‘Asian Nato’

Bloomberg filepix for illustration purpose only - A + A HONG KONG (June 30): In 1996, the year before Hong Kong’s historic return to Chinese rule, two property tycoons from the British colony — Lee Shau Kee and Li Ka-shing — broke into the list of the world’s top 10 richest people for the first time. A quarter century later, that exclusive club no longer features anyone from the city, showing how the territory has failed to keep up with creating wealth. Despite being touted as one of the world’s freest markets, Hong Kong has barely seen any new homegrown billionaires reach the world’s top 500 in the past 25 years, barring a handful, including a son of Li’s and some mainland entrepreneurs with local citizenship running businesses outside Hong Kong. The reason, in part, is due to the special role real estate has continued to play in Hong Kong’s US$368 billion economy. Under a colonial-era policy, the government for decades has relied heavily on land auctions to … [Read more...] about Hong Kong’s broken billionaire factory shows city losing step