Twitch Shuts Its Services In South Korea
Amazon’s global streaming platform Twitch has shut down its services in South Korea. The reason for this decision is the high operating costs in South Korea. The CEO of Twitch, Dan Clancy, said that the company has been operating in South Korea at a loss, and it is no longer feasible to provide the services. He added that even after significant efforts by the company to reduce the network fees in the nation, they are still 10 times higher than most countries.
Philippines Central Bank To Retain its Monetary Policy
The central bank in the Philippines retained the ‘tight’ monetary policy setting despite a slight slowdown in the inflation rate. The central bank of the Philippines said that although it has seen a slowdown in inflation in the country, it is still more than the expected rate. The food inflation has slowed down to 5.8%, it is still more than the 5% inflation expected by the bank. The average inflation of the year was around 6% which is far more than the central bank’s target of 2%- 4%.
China’s Exports Are Increasing, Not Decreasing
Contrary to popular belief, the exports from China are increasing and not decreasing. Many countries and big companies like Apple are shifting their manufacturing plant from China to other countries to reduce costs and manage supply change risks. Even after this, China’s share of total Asian exports has risen to 36% as compared to 35% in the previous year. This is mainly because of the export of green technology products.
