Chinese solar manufacturers will face a reckoning next year, with overcapacity and a fierce price war forcing many smaller firms out of business, according to the head of Anhui Huasun Energy Co., Bloomberg News reported. “A considerable number of smaller companies won’t be able to survive the first half of next year,” Xu Xiaohua, chairman and chief executive officer of the privately held firm, said in a panel discussion at the BloombergNEF Summit in Shanghai. However, the consolidation should pave the way for a rebound in prices toward the end of the year, he said.
Resources Per Country
- Afghanistan
- Armenia
- Australia
- Azerbaijan
- Bangladesh
- Brunei
- Cambodia
- China
- Cook Islands
- Cyprus
- Fiji
- Georgia
- Hong Kong
- India
- Indonesia
- Japan
- Kazakhstan
- Kyrgyzstan
- Laos
- Macau
- Malaysia
- Maldives
- Mongolia
- Myanmar
- Nepal
- New Zealand
- North Korea
- Pakistan
- Papua New Guinea
- Philippines
- Singapore
- South Korea
- Sri Lanka
- Taiwan
- Tajikistan
- Thailand
- Turkey
- Uzbekistan
- Vanuatu
- Vietnam
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South Korea's finance ministry said on Wednesday it was ready to deploy "unlimited" liquidity into financial markets after President Yoon Suk Yeol lifted a martial law declaration he imposed overnight that pushed the won to multi-year lows, Reuters reported. The announcement came after Finance Minister Choi Sang-mok and Bank of Korea Governor Rhee Chang-yong held emergency talks overnight, and as the central bank board abruptly met to approve rescue measures for the local credit market.
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The chief content officer of troubled Indian tech firm Byju’s and an ally of the company’s founder face financial sanctions in the US for their roles in stripping software, cash and other assets from businesses under court supervision, Bloomberg News reported. A federal judge is considering imposing millions of dollars in sanctions on Byju’s manager Vinay Ravindra and company ally Rajendran Vellapalath, who founded Dubai-based tech startup Voizzit Technology. At a court hearing yesterday, U.S. Bankruptcy Judge John T.
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Australia’s economy would have contracted sharply in the third quarter had it not been for a wave of state and federal government spending keeping it afloat, Treasurer Jim Chalmers said on Wednesday, the Wall Street Journal reported. The commodity-rich economy grew 0.3% sequentially in the quarter and 0.8% from a year earlier, the Australian Bureau of Statistics said, with government spending adding 0.6 percentage points to growth. “Without the contribution from public final demand the economy would have gone backwards,” Chalmers told reporters.
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China’s central bank governor reaffirmed plans for a supportive monetary policy to promote growth next year, as the economy faces fresh challenges from a looming trade war with the U.S. during Donald Trump’s second term, Bloomberg News reported. The People’s Bank of China will “adhere to an accommodative monetary policy stance and orientation” in 2025, Governor Pan Gongsheng said at a financial forum in Beijing on Monday, according to a statement published by the central bank.
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A deluge of cheap Chinese goods washing over the developing world is jacking up tensions between China and the Global South, complicating Beijing’s plans to build alliances as it confronts escalating trade tensions with the U.S., the Wall Street Journal reported. With President-elect Donald Trump saying he plans to significantly increase tariffs on China, Beijing is hoping to unload more of its excess factory production to developing-world countries, from Indonesia to Pakistan to Brazil.
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Japan could use a wake-up call over its mountain of debt through credit rating firms warning of the potential for cuts to sovereign bond ratings, according to a government advisor, Bloomberg News reported. “Recent fiscal policy has turned into a popularity contest,” said Mana Nakazora, a credit analyst on an economic panel advising Prime Minister Shigeru Ishiba. “I’d rather that credit rating firms say that they’ll cut ratings” to warn authorities of risk, she said in an interview with Bloomberg on Monday.
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Glas Trust, which represents a group of US entities that lent $1.2 billion to Byju's, on Monday questioned the maintainability of the Indian cricket board’s application to withdraw its insolvency petition against the cash-strapped edtech firm, the Economic Times of India reported. At the National Company Law Tribunal (NCLT), Glas Trust cited procedural lapses for seeking rejection of the application filed by the Board of Control for Cricket in India.
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In China’s sluggish property market, the latest sales pitch isn’t marble countertops, but residency papers, the Wall Street Journal reported. In a bid to support the real-estate market, more than a dozen Chinese cities have rolled out plans that would give something akin to permanent residency to home buyers. The southern economic hub of Guangzhou recently joined the list, making it the first of China’s biggest, tier-one cities—which also include Beijing, Shanghai and Shenzhen—to do so.
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