President Donald Trump said Monday that all medium- and heavy-duty trucks imported into the US will face a 25% tariff rate starting Nov 1, a significant escalation of his effort to protect US companies from foreign competition.
The World Bank has upped its projection for Malaysia’s economic growth in 2025, citing more resilient-than-expected external demand.
If the sales of one sector was closely tracked since the GST new rates were announced, it is undoubtedly the auto sector. Slowing demand, steep taxes and the recent uncertainties with regard to the ethanol blending and its impact have been impacting sales of new vehicles. However, with the GST push right on time, the festive season has started strong for the Indian automotive sector. Tractor sales no doubt come across as the hero, but passenger vehicles and two-wheelers too joined the party with a steady uptick.
Thailand saw inflation dipped below zero for the sixth straight month, likely giving the central bank an impetus to cut interest rates this week.
Vietnam's government said on Sunday its economy grew at an annual rate of 8.22% in the third quarter, when a 20% tariff on US imports of its products took effect, accelerating from growth of 7.96% in the second quarter.
Oil gained after Opec+ agreed to raise production by a modest amount, staving off traders’ fears of a super-sized increase.