BEIJING (REUTERS) – Chinese regulators have summoned ride-hailing giant Didi Chuxing and ten other car platforms to demand they cease “disorderly expansion” and “vicious competition” tactics, the government said on Thursday (Sept 2), amid a growing national crackdown on the tech industry. China has in recent months tightened its scrutiny of its largest tech firms in sectors ranging from e-commerce […]
Read moreSINGAPORE – Private-sector analysts have raised their forecast for Singapore’s economic growth in 2021 for the third time this year, according to the latest quarterly survey released by the Monetary Authority of Singapore (MAS) on Wednesday (Sept 1). They expect Singapore’s gross domestic product (GDP) to expand 6.6 per cent this year, slightly higher than the 6.5 per cent estimated […]
Read moreSINGAPORE – Singapore will need to strike a balance between ensuring it remains entrenched as a global financial and manufacturing hub while soothing the disquiet among locals over competing for jobs with foreigners. While reiterating their commitment to Singapore and their own fair hiring practices, local and foreign companies, chambers of commerce, trade bodies and experts hoped the new employment […]
Read moreTAIPEI (BLOOMBERG) – A supply chain crunch that was meant to be temporary now looks like lasting well into next year as the surging Delta variant upends factory production in Asia and disrupts shipping, posing more shocks to the world economy. Manufacturers reeling from shortages of key components and higher raw material and energy costs are being forced into bidding […]
Read moreBEIJING (REUTERS) – Several Chinese ports are facing congestion as vessels due to call at Ningbo are being diverted and cargo processing is slowed partly due to stricter disinfection measures under China’s “zero-tolerance” coronavirus policy. On Tuesday (Aug 17), more than 50 container vessels were queuing at Ningbo port, China’s second largest marine centre, Refinitiv data showed, up from 28 […]
Read moreSINGAPORE – The Republic’s push for sustainability is set to create new types of jobs in research and development, product development, related manufacturing activities and carbon services, said Singapore Economic Development Board (EDB) chairman Beh Swan Gin. The alternative proteins industry is an example of an area with much room for growth, he said. “Many of the companies setting up here […]
Read moreSHANGHAI (REUTERS) – The Chinese government has taken stakes in Chinese entities owned by tech companies ByteDance and Sina Weibo, corporate records showed, amid a widening regulatory crackdown on the industry. News of the stakes and the board seat was first reported by The Information on Monday (Aug 16). WangTouZhongWen (Beijing) Technology, which is owned by three Chinese state entities, […]
Read moreNEW YORK (BLOOMBERG) – US employers added the most jobs in nearly a year and the unemployment rate declined faster than forecast, showing the labour market is making more robust gains toward a full recovery as the economy strengthens. Payrolls climbed by 943,000 last month after an upwardly revised 938,000 increase in June, a Labour Department report showed Friday (Aug […]
Read more* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Updates prices, adds new quote) MILAN, July 19 (Reuters) – German bond yields tumbled on Monday to the lowest since late-March as concerns over the economic impact of surging Delta coronavirus cases drove investors to stampede into safe-haven assets. Countries worldwide are extending or re-introducing activity curbs in response to the rising […]
Read moreWASHINGTON (REUTERS) – A period of high inflation in the United States may last longer than anticipated, two US Federal Reserve officials said on Wednesday (June 23), prompting one to pull forward his views on when the central bank should start raising interest rates. Atlanta Fed president Raphael Bostic said with growth surging to an estimated 7 per cent this […]
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