Archive / Business - 2021
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AstraZeneca invests in Imperial's self-amplifying RNA technology with eye on future drugsAstraZeneca Plc on Thursday struck a deal with the firm behind Imperial College London's experimental COVID-19 vaccine to develop and sell drugs based on its...Taliban expand economic teamAfghanistan's Taliban government bolstered its economic team on Tuesday, naming a commerce minister and two deputies as the group tries to revive a financial system...German auto giants place their bets on hydrogen carsBattery power may be the frontrunner to become the car technology of the future, but don't rule out the underdog hydrogen.That's the view of some...ADB cuts Asia growth forecast on slow vaccine rolloutThe Asian Development Bank warned of "lasting scars" from the coronavirus pandemic as it cut its 2021 growth forecast for developing Asia on slow vaccination...BOJ rolls out climate scheme, to disburse first loans late DecemberThe Bank of Japan said on Wednesday it will begin disbursing loans in late December under a new scheme targeting activities aimed at combating climate...ADB cuts Asia growth forecast on slow COVID-19 vaccine roll-outThe Asian Development Bank warned of "lasting scars" from the coronavirus pandemic as it cut its 2021 growth forecast for developing Asia on slow vaccination...Shell to switch to fully-electric ferries for passengers to Pulau Bukom refineryShell Singapore will switch to fully-electric ferries to transport passengers to its energy and chemicals park on Pulau Bukom, as the company continues a repurposing...OECD lowers global, US economic growth forecastsThe OECD warned Tuesday of an "uneven" global economic recovery as it lowered its 2021 growth forecasts for the world and the United States while...Airline sector relieved over lifting of US travel banThe United States' decision to lift restrictions on incoming travellers vaccinated against Covid-19 was met with a sigh of a relief by the global airline...Employers to receive more than S$900 million in Jobs Support Scheme payouts from Sep 30More than S$900 million in Jobs Support Scheme (JSS) payouts will be disbursed to employers from Sep 30. The payouts will be given to more than...Evergrande chairman confident company will 'walk out of its darkest moment'China Evergrande Group is confident the company will "walk out of its darkest moment", the debt-laden property developer's chairman said in a letter to staff...JPMorgan takes on British rivals with launch of digital bank ChaseJPMorgan is challenging British rivals on their home turf with the launch on Tuesday of its long-awaited digital retail bank, Chase, as part of what...Zara owner Inditex outshines H&M as sales top pre-pandemic levelsFashion brand Zara owner Inditex has outpaced Swedish rival H&M in its efforts to bounce back from the coronavirus crisis, with second-quarter sales rising above...Puma to expand Bangladesh footprintJust two years after first entering the Bangladesh market, German sportswear giant Puma is going to further expand its horizon in the country.DBL Group, the...Honda targets annual sales of 70,000 Prologue electric vehicles in US from 2024Honda Motor Co's U.S. unit said on Monday it is targeting initial annual sales of 70,000 for its planned electric Prologue sport utility vehicle when...Cathay Pacific lowers Q4 capacity forecast as travel restrictions lingerHong Kong's Cathay Pacific Airways Ltd said on Monday it had lowered its passenger capacity forecast for the remainder of the year to 13per cent...Critics warn of Apple, Google ‘chokepoint’ repressionThe global dominance of tech giants serves as a convenient online chokepoint for authoritarian governments to crack down on dissent or rig elections, critics of...Fed to stay cautious as economy sends mixed signalsWith the United States on the upswing from the Covid-19 pandemic, the Federal Reserve is expected to weigh in next week on whether the economy...Fed Chair Powell now faces an ethics blowupIt is perhaps as predictable as it is problematic: Within days of news that two Federal Reserve bank presidents had engaged in controversial stock trades,...China defends clampdown on tech firms in a meeting with Wall St execs: ReportChina's top securities regulator defended their crackdown on various industries in a private meeting with Wall Street executives, Bloomberg News reported on Saturday (Sep 18).Investors'...China halts Taiwan sugar apple, wax apple imports to prevent diseaseChina will suspend sugar apple and wax apple imports from Taiwan to prevent disease carried by a pest found on the fruits from entering the...Airbus reaches deal to restructure AirAsia jet orderAirbus has agreed to cut prices or reschedule delivery for hundreds of jets ordered by Malaysia's AirAsia to salvage a contract worth tens of billions...India antitrust probe finds Google abused Android dominanceGoogle abused the dominant position of its Android operating system in India, using its "huge financial muscle" to illegally hurt competitors, the country's antitrust authority...UK retail sales drop as more consumers eat out: dataBritish retail sales fell last month as the grocery sector was hit by people returning to restaurants and pubs after virus curbs were lifted, data...US probes possible insider trading at Binance: ReportUS officials are examining possible insider trading and market manipulation at Binance, Bloomberg News reported on Friday (Sep 17), potentially adding more heat to the...Six Evergrande executives redeemed investment products in advanceSix executives of China's heavily indebted Evergrande had redeemed some of the company's investment products in advance earlier this year, the property group said on...Shanghai encourages 'duty-free economy' as part of consumer pushThe Shanghai government will support companies applying for approval to sell duty-free goods, and encourage duty-free shops to be set up at airports, hotels, malls...China’s biotech sector comes of ageIf investors in China's biotech industry needed one more sign that the sector is coming of age, then a major licensing deal RemeGen Co Ltd...India launches $3.5b incentives for green carsIndia will splash 257 billion rupees ($3.5 billion) on incentives for the auto sector to boost production of clean cars, the government said Wednesday, as...Japan's hot exports growth cools as COVID-19 hits supply chainsJapan's exports extended double-digit gains in August, led by strong shipments of chip manufacturing equipment, although the pace of growth weakened as COVID-19 hit key...Air New Zealand studying how to add low-emissions planes to fleetAir New Zealand said on Thursday (Sep 16) it was studying how it could use low-carbon technologies like electric, hybrid or hydrogen powered planes to...Top carbon emitters fall short on climate risk disclosure: ReportTop emitters of carbon are not disclosing the full risks associated with climate change, reducing the chances of meeting global emissions targets, a study by...China’s factories, retailers stumble on Covid disruptionsChina's factory and retail sectors faltered in August with output and sales growth hitting one-year lows as fresh coronavirus outbreaks and supply disruptions threatened the...US pandemic aid boosted incomes in 2020: govtMassive US government stimulus payments during the Covid-19 pandemic last year boosted household income and lowered the share of Americans living in poverty, according to...Indonesia's August exports hit record high on resources boomIndonesia's exports hit a record high of US$21.42 billion in August, rising 64.1 per cent on a yearly basis, boosted by a surge in shipments...South Korea's LGES, Hyundai Motor start work on Indonesian EV battery plantSouth Korea's LG Energy Solution (LGES) and Hyundai Motor Group have started construction on a US$1.1 billion plant to make batteries for electric vehicles (EVs)...UK employee numbers surge above pre-pandemic levelBritish employers added a record 241,000 staff to their payrolls last month, lifting the total number of payrolled employees just above the level they were...Britain delays implementation of post-Brexit trade controlsBritain said on Tuesday it was delaying the implementation of some post-Brexit import controls, the second time they have been pushed back, citing pressures on...Vaccines set to unleash pent-up oil demand: IEAAfter three months of decline in global oil demand, Covid-19 vaccine roll-outs are set to unleash thirst for oil stymied by pandemic restrictions especially in...Singapore's PayNow to link with India's Unified Payments Interface in 2022Singapore's PayNow and India's Unified Payments Interface (UPI) will be linked by July 2022, allowing users to make "instant, low cost" fund transfers directly between...South Korea fines Google US$177 million for blocking Android customisationA South Korea's antitrust regulator has fined Alphabet's Google 207 billion won (US$176.64 million) for blocking customised versions of its Android operating system (OS), in...India cuts import taxes on vegetable oils to calm pricesIndia has cut base import taxes on palm oil, soyoil and sunflower oil, according to a government notification, as the world's biggest vegetable oil buyer...Biden has a chance to make Fed’s board look more like AmericaAs US President Joe Biden assesses whether to reappoint Federal Reserve Chair Jerome Powell and nominate as many as three others to the central bank's...Sydney Airport sale a step closer after improved $17.4b offerA sale of Australia's greatest airport moved nearer on Monday as an infrastructure investor group gained permission to conduct due diligence on Sydney Airport Holdings...Sydney Airport sale a step closer after improved US$17.4 bln offerA sale of Australia's biggest airport moved closer on Monday (Sep 13) as an infrastructure investor group won permission to conduct due diligence on Sydney...Australian regulator denies approval for Qantas-Japan Airlines dealAustralia's competition regulator on Monday (Sep 13) denied authorisation for Qantas Airways and Japan Airlines (JAL) to coordinate flights between the two countries, citing competition...'Huge opportunities' for Singapore businesses in Africa: ExpertsSingapore-based artificial intelligence startup Sqreem was already present in South Africa, when the COVID-19 pandemic broke out.As such, it was able to leverage on technologies...Investors eye wobbling energy sector as gauge for Delta fearsEnergy stocks are becoming a popular bellwether for concerns over how deeply the Delta variant of the coronavirus is expected to impact the US economy,...Small US employers frustrated by Covid vaccine mandateSmall employers like Bob Roth on Friday voiced frustration with US President Joe Biden's mandate that workers either get vaccinated or tested regularly to combat...Salesforce offers help moving employees out of Texas after abortion lawThe IT giant Salesforce has offered to help relocate its employees working in Texas, following the passage of a restrictive abortion law in the conservative...