https://www.scmp.com/rss/523246/feed ANZ Bank, officially Australia and New Zealand Banking Group Limited, is headquartered in Melbourne, Australia. Its banking services encompass home loans, credit cards, wealth management, and institutional banking. Serving individual consumers, small and medium enterprises, and corporate clients globally, ANZ is one of Australia’s four major banks and the largest in New Zealand. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Biman Mukherji Biman Mukherji Asia is entering a dangerous summer for food production as scientists warn of a “super El Nino” suppressing rainfall while the war on Iran drives up energy and fertiliser costs for farmers. India’s Meteorological Department has forecast a below-average monsoon, after two successive years of above-normal rains, while in Australia – a major wheat producer and exporter – a shortage of farm inputs and persistent dryness has reportedly pushed planting acreage to a seven-year low. Farmers across South... https://www.scmp.com/week-asia/health-environment/article/3350988/asia-braces-food-shortages-super-el-nino-iran-war-effects-collide?utm_source=rss_feed https://www.scmp.com/week-asia/health-environment/article/3350988/asia-braces-food-shortages-super-el-nino-iran-war-effects-collide?utm_source=rss_feed Wed, 22 Apr 2026 09:00:38 +0000 Biman Mukherji Biman Mukherji Washington’s naval blockade of the Strait of Hormuz is threatening to tip Asia into its worst energy crisis in living memory, with peace talks on the Iran war stalled and no clear timeline for when oil flows might resume. The United States moved to seize control of the flashpoint waterway on Monday night, with US President Donald Trump framing the move as a way to force Iran to open the strait and accept a deal to end the war. Iran responded by threatening all ports in the Persian Gulf and the... https://www.scmp.com/week-asia/economics/article/3350057/asias-energy-supply-breaking-point-us-blockades-hormuz?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3350057/asias-energy-supply-breaking-point-us-blockades-hormuz?utm_source=rss_feed Tue, 14 Apr 2026 10:09:18 +0000 Sylvia Ma Sylvia Ma As the French central bank repatriates gold reserves from the United States, analysts say China should seize this “strategic window” to develop itself into the next global gold hub. They added that Beijing can leverage policy stability, alongside Hong Kong’s strengths in fintech such as blockchain, to build a modern gold trading centre, particularly as policy volatility under US President Donald Trump’s second term heightens global concerns and deepens the de-dollarisation trend. “I think [the... https://www.scmp.com/economy/china-economy/article/3349343/france-pulls-gold-us-how-can-china-develop-next-global-gold-hub?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3349343/france-pulls-gold-us-how-can-china-develop-next-global-gold-hub?utm_source=rss_feed Wed, 08 Apr 2026 12:00:08 +0000 Kevin Li Kevin Li Hongkongers may begin to feel the impact of the escalating war in the Middle East in the coming months, as rising global oil prices are expected to push up energy bills and dining costs, according to experts. Analysts said the attacks on Iran by the United States and Israel, and subsequent retaliation across the region, were also likely to slow the pace of US interest rate cuts and curb the rise in Hong Kong housing prices. As military operations in the Middle East entered their fourth day,... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3345321/hong-kong-inflation-risks-grow-war-middle-east-escalates-experts-warn?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3345321/hong-kong-inflation-risks-grow-war-middle-east-escalates-experts-warn?utm_source=rss_feed Wed, 04 Mar 2026 00:30:08 +0000 Cao Li Cao Li Ahead of China’s annual legislative meetings – typically a window into Beijing’s top-level policy agenda – this is the seventh entry in a series examining the complex economic recalibration driving China’s growth philosophy and its wide-ranging implications for local governments, financial investors and private enterprises. Investors and policy watchers will be looking to this week’s meetings of China’s national legislature and top political advisory body – also known as the “two sessions” – for... https://www.scmp.com/business/article/3345261/investors-watch-chinas-two-sessions-clues-property-overhaul?utm_source=rss_feed https://www.scmp.com/business/article/3345261/investors-watch-chinas-two-sessions-clues-property-overhaul?utm_source=rss_feed Tue, 03 Mar 2026 23:30:07 +0000 Sylvia Ma Sylvia Ma With Hong Kong set to unveil its annual budget, economists have said the city should strengthen its role in pushing the internationalisation of the Chinese yuan as Beijing presses ahead with financial opening while keeping stability firmly in view. From expanding offshore yuan products to using its stablecoin regulations as a sandbox for potential cross-border payment channels, the experts said that Hong Kong could help realise the nation’s vision of becoming a “financial powerhouse”, especially... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3344264/should-hong-kongs-next-budget-make-room-taking-yuan-global-experts-weigh?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3344264/should-hong-kongs-next-budget-make-room-taking-yuan-global-experts-weigh?utm_source=rss_feed Mon, 23 Feb 2026 00:00:30 +0000 Biman Mukherji Biman Mukherji Asian investors should brace for more volatility in the gold and silver markets in the near term following a plunge in prices of the two metals after a record-breaking surge, with demand expected to rise again ahead of the Lunar New Year holiday. The outlook for gold remains strong over the long term, even as investors turned their focus to the US dollar in recent trading sessions, according to analysts. Gold typically has an inverse correlation with the US dollar. Investors have shifted funds... https://www.scmp.com/week-asia/economics/article/3342649/gold-still-shines-asia-thanks-pent-demand-amid-volatility?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3342649/gold-still-shines-asia-thanks-pent-demand-amid-volatility?utm_source=rss_feed Fri, 06 Feb 2026 08:21:56 +0000 Sylvia Ma Sylvia Ma For decades, the US dollar has served as the currency of global reserve, the de facto anchor for the vast majority of international exchanges. Consequently, United States government debt – most commonly in the form of Treasury assets such as bonds, notes and bills – has long been regarded as a safe haven by investors, prized for its unmatched liquidity and deep market penetration. That faith has remained strong in the past, even amid global financial crises. But the events of recent weeks... https://www.scmp.com/economy/global-economy/article/3341391/age-trump-are-safe-haven-us-assets-not-so-safe-any-more?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3341391/age-trump-are-safe-haven-us-assets-not-so-safe-any-more?utm_source=rss_feed Tue, 27 Jan 2026 22:00:13 +0000 Sylvia Ma,Frank Chen Sylvia Ma,Frank Chen After witnessing the effects of a tumultuous trade war with the United States this year, China’s top leaders have issued a directive to fortify the domestic economy against persistent or even heightened trade frictions. Following the annual central economic work conference, which concluded on Thursday and set the agenda for 2026, officials emphasised “better coordinating domestic economic work and international economic and trade struggles”, anchoring a pro-growth strategy for the start of... https://www.scmp.com/economy/china-economy/article/3336271/china-digs-trade-struggles-beijing-eyes-dual-strategy-growth-and-resilience?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3336271/china-digs-trade-struggles-beijing-eyes-dual-strategy-growth-and-resilience?utm_source=rss_feed Fri, 12 Dec 2025 14:00:09 +0000 Sylvia Ma Sylvia Ma As the Chinese leadership prepares to set the economic agenda for the year ahead, analysts expect Beijing to mostly maintain this year’s policy tone but say it could tolerate a slightly lower growth target. Chinese leaders will hold a closed-door meeting to discuss next year’s main policy goals during the central economic work conference, which usually takes place in early or mid-December. “To address the demand slump, we expect Beijing to maintain its proactive fiscal policy stance, with a... https://www.scmp.com/economy/china-economy/article/3335356/china-keep-economic-strategy-2026-slightly-lower-gdp-target-possible-analysts?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3335356/china-keep-economic-strategy-2026-slightly-lower-gdp-target-possible-analysts?utm_source=rss_feed Fri, 05 Dec 2025 11:15:13 +0000 Biman Mukherji Biman Mukherji The better-than-expected growth of India’s economy, driven by strong performance in the domestic consumer and manufacturing sectors, highlights its near-term resilience despite a slowdown in exports and US import tariffs. While India’s 8.2 per cent year-on-year growth figure in the July to September quarter was the fastest among major economies, analysts warn that the headline numbers may not provide a true picture of the challenges it faces. Private consumer spending, which accounts for more... https://www.scmp.com/week-asia/economics/article/3334912/indias-strong-economic-growth-impresses-amid-doubts-overstated-data?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3334912/indias-strong-economic-growth-impresses-amid-doubts-overstated-data?utm_source=rss_feed Tue, 02 Dec 2025 10:30:14 +0000 Sylvia Ma Sylvia Ma All eyes are now on Thursday’s meeting between President Xi Jinping and US President Donald Trump in South Korea. Their first in-person encounter since Trump’s return to office in January will build on several rounds of trade talks between the two sides that have touched on issues ranging from tariffs to export controls. In this explainer, the Post outlines the key pain points between the world’s two largest economies – and whether they are likely to be addressed. What issues may be agreed on by... https://www.scmp.com/economy/china-economy/article/3330739/what-pain-points-are-likely-be-table-xi-trump-meeting-south-korea?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3330739/what-pain-points-are-likely-be-table-xi-trump-meeting-south-korea?utm_source=rss_feed Wed, 29 Oct 2025 13:30:15 +0000 Biman Mukherji Biman Mukherji In the wake of a landmark ceasefire deal between Israel and Hamas, the world’s oil traders are watching the Middle East with a rare sense of cautious optimism, as hopes for lasting peace begin to chip away at the recent risk premium attached to global energy flows. While analysts caution that the immediate effects on oil supply and demand may be muted, the truce is already having an effect. Should the agreement lead to fewer attacks on Red Sea shipping lanes, renewed progress on Iran’s nuclear... https://www.scmp.com/week-asia/economics/article/3328566/asia-eyes-cheaper-oil-israel-hamas-ceasefire-kindles-hope-calm?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3328566/asia-eyes-cheaper-oil-israel-hamas-ceasefire-kindles-hope-calm?utm_source=rss_feed Sat, 11 Oct 2025 08:00:15 +0000 Biman Mukherji Biman Mukherji India’s stronger-than-expected economic growth of 7.8 per cent in the April–June quarter has been hailed by leaders as a resounding retort to US President Donald Trump’s claim that the country’s economy is “dead”, even as experts warn that retaliatory tariffs from Washington could weigh on the outlook. Bilateral ties have plummeted recently after Trump enacted a 50 per cent import tariff on India last week, doubling a 25 per cent import tariff as a penalty for New Delhi’s purchase of sanctioned... https://www.scmp.com/week-asia/economics/article/3323929/indias-dead-economy-growth-hailed-trumps-tariffs-pose-risks?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3323929/indias-dead-economy-growth-hailed-trumps-tariffs-pose-risks?utm_source=rss_feed Mon, 01 Sep 2025 09:40:53 +0000 Sylvia Ma Sylvia Ma The passage of a sprawling budget bill has raised concerns over the long-term debt of the United States, which analysts said could compound already heightened worries over the reliability of the country’s currency as a safe-haven asset. Winning a narrow 218-214 vote in the House of Representatives on Thursday, the “One Big Beautiful Bill Act” – which raises spending on border security and defence while making the record tax cuts enacted in 2017 permanent – now heads to US President Donald Trump... https://www.scmp.com/economy/global-economy/article/3316991/did-trump-get-his-big-beautiful-bill-us-dollars-expense?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3316991/did-trump-get-his-big-beautiful-bill-us-dollars-expense?utm_source=rss_feed Fri, 04 Jul 2025 11:30:13 +0000