Archive / Business - 2021
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Digital rivals? Central bank e-cash plans prompt lenders to wade inAs central banks dabble with digital currencies, commercial lenders are ramping up efforts to influence policy and technical plans, according to more than half a...US regulator focuses on bank fee conflictsThe US securities regulator has ramped-up its inquiry on Wall Street's blank check acquisition frenzy, homing in on potential conflicts of interest created when banks...New trade data exchange to allow better tracking of cargo, optimise supply chain logisticsLogistics and shipping firms will be able to securely share more data on the movement of goods when a new trade data exchange is rolled...Not just fun and games: How to invest in the future of e-sportsE-sports, or competitive video gaming, is on track to become a billion-dollar industry, gaining in popularity and visibility during the COVID-19 pandemic.Asia has the largest...ILO campaign creates COVID-19 awareness among RMG workersThe International Labour Organization (ILO) has launched a Behaviour Change Awareness Campaign to identify and cut the COVID-19 risks faced by ready-made garment (RMG) workers...In latest China regulatory move, common data platform planned for Greater Bay areaChina's southern Guangdong province said it plans to build a common data platform for the Greater Bay Area that includes Hong Kong and Macau, and...Under pressure, EU puts plan for its own digital levy on holdThe European Commission will delay its plan to put forward a new levy on digital services later in July, a spokesman said on Monday, following...New Zealand's PM Ardern calls emergency APEC meeting on COVID-19; Singapore's PM Lee to attendNew Zealand's Prime Minister Jacinda Ardern on Monday (Jul 12) announced a hastily convened virtual meeting of APEC leaders this week to discuss the Asia-Pacific...Super Mario cartridge sold for US$1.5 millionA cartridge of Nintendo's classic video game Super Mario 64 set a world record on Monday (Jul 12), selling at auction for US$1.56 million.The sale,...Virgin Galactic billionaire Richard Branson reaches space in his own shipSwashbuckling billionaire Richard Branson hurtled into space aboard his own winged rocket ship on Sunday (Jul 11), bringing astro-tourism a step closer to reality and...Singapore's Temasek set to post record portfolio in global equities rallySingapore state investor Temasek Holdings' portfolio value likely rebounded to scale a record in the year ending March, boosted by a rally in global markets...Food caterers ‘hobbling on’ amid slow recovery from COVID-19 pandemicAfter trudging through steep revenue declines for more than a year, food caterers battered by the COVID-19 pandemic see a long and slow recovery ahead...Why China is hobbling its tech sectorScuttled listings and share prices hammered by official threats: Beijing has launched a withering and very public assault on some of China's biggest tech names.The...India’s fuel demand recovers as lockdowns easeIndia's fuel demand recovered last month after slumping to a nine-month low in May, as restrictions to curb the spread of the pandemic were eased...Oil prices rise over 2pc as US inventories declineOil prices rose for a second day on Friday as the market reacted to falling US inventories, and signs of strong Asian demand from both...Biden signs order to tackle corporate abusesPresident Joe Biden signed a sweeping executive order on Friday to promote more competition in the US economy, urging agencies to crack down on anti-competitive...G20 ministers set to green light global tax reformFinance ministers from the G20 richest nations are expected to give the green light Saturday to a historic deal to tax multinational companies more fairly.The...Chinese antitrust regulator blocks Tencent's US$5.3b video games mergerChina's market regulator on Saturday (Jul 10) said it would block Tencent Holdings' plan to merge the country's top two video game streaming sites, Huya...Asian companies see smallest earnings upgrade in 12 monthsAsian firms received their smallest upgrade in 12 months in June, hit by a resurgence of Covid-19 infections in the region which prompted new restrictions...Zimbabwe's new biggest banknote is worth just $0.60Zimbabwe's central bank on Tuesday announced the introduction of a new 50-dollar note, the country's highest denomination, worth only around $0.60 in US currency.Insufficient to...ICSD Johannesburg conference begins July 13International Consortium for Social Development-ICSD is going to hold the twenty second biennial conferences focusing on innovations to tackle poverty and inequality and related challenges.Ghana...China's Tencent turns to facial recognition to root out late-night child gamersChinese tech giant Tencent has rolled out a facial recognition "midnight patrol" function to snag children masquerading as adults to get around a government curfew...SP Group trials technology to push energy from battery of electric vehicle back to power gridSP Group has started a trial to test and verify the possibility of transferring energy from the batteries of electric vehicles (EV) back to the...Boost to clean energy investment could drive 10m new green jobsFrom offshore wind farms in Britain to floating solar power plants in Vietnam, about 13,000 renewable energy projects in nearly 50 countries are waiting for...EU urges UK to accept Swiss-style deal to end agri-food standoffThe European Union urged London on Tuesday to consider a Swiss-style veterinary agreement with Brussels on agri-foods to end a post-Brexit 'sausage war' row over...IMF chief sees risk of sustained rise in US inflationThe International Monetary Fund on Wednesday said further fiscal support in the United States could fuel inflationary pressures and warned that the risk of a...China steps up supervision of overseas-listed firms after Didi IPO dramaChina will step up supervision of Chinese firms listed offshore, its cabinet said on Tuesday (Jul 6), days after Beijing launched a cybersecurity investigation into...Chinese Tesla challenger debuts in Hong Kong with US$1.8b IPOShares in electric carmaker XPeng debuted in Hong Kong on Wednesday (Jul 7), as Chinese-based firms trading in the United States seek to avoid the...Global tax reform plan goes to the G20G20 finance ministers meeting in Venice on Friday (Jul 9) and Saturday could rally the world's top economies behind a global plan to tax multinationals...Global tax overhaul backed by 130 countriesOfficials from 130 countries have agreed to overhaul the global tax system to ensure big companies "pay a fair share" wherever they operate.The OECD said...HK beverage maker shares plunge after China boycottA Hong Kong beverage maker's shares had their biggest ever slump, after calls in China for a boycott of the firm.Shares in Vitasoy fell by...Hong Kong leader dismisses Big Tech privacy law fearsHong Kong's leader on Tuesday (Jul 6) brushed off a warning by major tech companies including Google, Facebook and Twitter that they may quit the...Asset owners managing US$6 trillion call for global carbon priceInvestors managing more than US$6 trillion in assets on Tuesday (Jul 6) called for a coordinated global price on carbon and said emissions costs would...Singapore's retail sales rise 79.7% in May after 2020 circuit breaker store closuresRetail sales in Singapore rose 79.7 per cent in May, with the growth due to the low base in the same period last year when...UK new car sales rise in June compared to difficult 2020British new car registrations rose by an annual 28 per cent in June compared to the same month last year, when some dealerships were closed...Euro zone business activity soared in June as lockdowns liftedEuro zone businesses expanded activity at the fastest rate in 15 years in June as the easing of more coronavirus restrictions brought life back to...Toshiba needs 'prompt, appropriate' disclosure, Tokyo Stock Exchange chief saysThe Tokyo Stock Exchange (TSE) wants Toshiba to make "prompt and appropriate" disclosure about its widening governance scandal, including who was responsible, the head of...Syngenta looks to China's farmers for growth ahead of mega-IPOAgrichemicals giant Syngenta Group is rapidly expanding its rollout of farm services in China ahead of a huge stock market listing, as it seeks to...China's Didi says app takedown may hurt revenueChina's biggest ride-hailing firm Didi Global said on Sunday (Jul 4) that the removal of its DiDi Chuxing app from smartphone app stores in China...Bezos steps aside after living high on the hogJeff Bezos has some solid timing. The founder and chief executive of Amazon.com is handing over the CEO role to Andy Jassy, head of the...Amazon, Tata say Indian govt e-commerce rules will hit businessesAmazon.com Inc and India's Tata Group warned government officials on Saturday that plans for tougher rules for online retailers would have a major impact on...From unlimited leave to four-day weeks, some firms are embracing more flexible time-off policiesFrom June to August, senior application consultant Heemank Verma enjoys a long weekend every week.Mr Verma, who works in the fintech firm Mambu’s Singapore office,...Bezos leaves enduring legacy as he steps away as Amazon CEOAs he prepares to blast off into a new career stage, Jeff Bezos leaves an enduring legacy after transforming Amazon from a modest online bookseller...Biden orders probe after massive ransomware attack potentially hit 1,000 businessesA ransomware attack on a US IT company potentially targeted 1,000 businesses, researchers said Saturday (Jul 3), with one of Sweden's biggest supermarket chains revealing...EU’s planned digital levy to cover hundreds of firms: officialA digital levy to be proposed by the European Commission in the coming weeks to fund its recovery from the Covid-19 pandemic will apply to...White House worried about high oil prices, sees enough production capacityThe White House said on Friday it is concerned about the impact of rising oil prices on US consumers but believes producers have ample ability...Robinhood resolves issue with crypto trading on its platformRobinhood Markets, the app-based brokerage firm, said on Friday (Jul 2) it had resolved an outage affecting crypto trading on its platform after briefly experiencing...200 businesses hit by ransomware after breach at Florida IT firmCybersecurity company Huntress Labs said on Friday (Jul 2) that 200 American businesses have been hit by ransomware attacks following an incident at US IT...US conservatives voice concern as Facebook tests alerting users to extremist postsA Facebook test of pop-up boxes asking people whether they think friends are becoming extremists raised concerns on Friday (Jul 2) among US conservatives who...130 countries back global minimum corporate tax of 15%Some 130 countries have agreed on a global minimum tax backed by US President Joe Biden as part of a worldwide effort to keep multinational...