The Latest Breaking News from ADB

Over two years after the coronavirus emerged, countries across Asia are slowly beginning to recover. In Southeast Asia, economic growth is projected to pick up to 5.1% this year, from 3.2% in 2021. With 400 million people, or 59% of the population, fully vaccinated, many economies are well on the…

MANILA: Growth in developing Asia will likely be slower this year than previously thought, the Asian Development Bank (ADB) said on Wednesday, as the war in Ukraine is expected to derail economic recovery in the region still reeling from the Covid-19 pandemic.

Manila-based bank forecasts region’s developing economies to grow 5.2 percent in 2022 and 5.3 percent in 2023.

Shares of diversified software company Adobe (ADBE) declined in price even after the company reported record revenues in its last quarter. This was due to its disappointing fiscal 2022 revenue guidance because of the impact it expects from its termination of sales of its products in Russia and Belarus. But…