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SINGAPORE – Singapore and Chinese companies can deepen their collaboration to access new opportunities, as the world transits to a post-Covid new normal, Minister of State for Trade and Industry Low Yen Ling said on Thursday (Oct 14). Speaking in Mandarin at the Singapore-China Business Forum, Ms Low outlined three areas – the digital economy, […]
SINGAPORE – Policy-makers have decidedly shifted their focus from pulling the economy out of its worst recession to warding off what they now consider the main threat to financial and economic stability – inflation. It also means that the outcry over some recent developments such as slowing growth in two of its top trading partners, […]
NEW YORK (NYTIMES) – The US Labor Department proposed rule changes on Wednesday (Oct 13) that would make it easier for retirement plans to add investment options based on environmental and social considerations – and make it possible for such options to be the default setting upon enrollment. In a reversal of a Trump-era policy, […]
SINGAPORE (BLOOMBERG)- Oil held above US$80 a barrel on expectations that a power crisis from Asia to Europe will lift demand and tighten global balances. West Texas Intermediate futures edged higher in Asian trading after closing up 1.5 per cent on Monday (Oct 11). Oil markets are tightening rapidly in the run-up to the Northern […]
WASHINGTON (BLOOMBERG) – Treasury Secretary Janet Yellen said she expects Congress to take action soon to bring the United States into line with a global minimum tax agreed on last week by 136 countries. “I am confident that what we need to do to come into compliance with the minimum tax will be included in […]
SINGAPORE (THE BUSINESS TIMES) – Economic activity in Asean+3 is now projected to expand by an aggregate 6.1 per cent in 2021, down from the 6.7 per cent forecast earlier this year, after posting flat growth in 2020, according to the Asean+3 Macroeconomic Research Office (AMRO) on Thursday. The Plus-3 economies are continuing to drive […]
HONG KONG (BLOOMBERG) – European companies are discussing relocating staff from Hong Kong, the region’s local chamber of commerce said, as the city commits to a “Covid zero” strategy that almost every country apart from China is abandoning. Hong Kong’s strict quarantine measures have led many businesses to consider restructuring at least part of their […]
HONG KONG (BLOOMBERG) – China may be diving head first into a power supply shock that could hit Asia’s largest economy hard just as the Evergrande crisis sends shock waves through its financial system. The crackdown on power consumption is being driven by rising demand for electricity and surging coal and gas prices as well as […]
HONG KONG (BLOOMBERG) – China’s tough Covid-19 curbs mean economic activity in the third quarter could be close to flat compared with the previous three months, while full-year growth may fall below 8 per cent, a top forecaster said. “My view is that the Chinese economy should slow sharply in the third quarter, mainly due to […]
NEW YORK (REUTERS) – It turns out robots are taking over jobs fastest around the world in places where their human counterparts are aging the most rapidly. That is the conclusion of a new study that looked at demographic and industry-level data in 60 countries and found a powerful link between aging workforces – defined […]