Archive / Business - 2021
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Toyota, Honda oppose US House electric vehicle tax planToyota Motor and Honda Motor on Saturday (Sep 11) sharply criticised a proposal by Democrats in the US House of Representatives to give union-made electric...Cybersecurity seen as rising risk for airlinesAfter remaking their security procedures following the 9/11 attacks to stop airline hijackings, carriers are now faced with rising threats targeting computers and electronic equipment...Apple takes app payment hit in Epic court fightA US judge on Friday ordered Apple to loosen control over its App Store payment system, a blow to the global tech giant sparked by...US Treasury, financial industry discuss cryptocurrency ‘stablecoins’The US Treasury Department met with a number of industry participants this week to quiz them about the risks and benefits posed by stablecoins --...Qiagen supports White House COVID-19 vaccination, test mandateGerman genetic testing specialist Qiagen said on Friday (Sep 10) it supported Biden administration's new COVID-19 vaccination and testing mandate for workplaces."We strongly support all...Dollar gains with yields as Fed policy in focusThe dollar rose on Friday in line with higher U.S. Treasury yields as investors focused on when the Federal Reserve is likely to begin reducing...El Salvador's bitcoin digital wallet beset by technical glitchesFor a fourth day in a row technical glitches have beset the Salvadoran government's bitcoin digital wallet Chivo, a setback that could discourage residents from...Afghans fear for jobs and money after Taliban takeoverAs a nurse at one of Kabul's main hospitals, Latifa Alizada was the breadwinner for her family, providing for her three young boys and unemployed...US growth ‘downshifted’ amid labour, supply shortagesUS economic growth "downshifted slightly" in July and August amid shortages of workers and materials, as well as concerns about the rise of the highly...Taiwan to hand out more stimulus coupons to boost consumer spending by US$7.2 billionTaiwan said on Thursday (Sep 9) it planned to issue "stimulus coupons" again to boost consumer spending by NT$200 billion (US$7.22 billion) and support its...China's factory prices rise at fastest pace since August 2008Singapore technology company Sea Limited plans to raise US$6.3 billion (S$8.5 billion) in a share and convertible bond sale, in one of the region's largest...Lebanon working to secure World Bank financing for power planThe Lebanese government said on Wednesday it was working with the World Bank to secure financing for a plan to import Egyptian gas via Jordan...In world first, bitcoin becomes legal tender in El SalvadorEl Salvador on Tuesday became the first country to embrace bitcoin as legal tender, with consumer demand crashing its brand-new cyber "wallet" system even as...Japan upgrades Q2 GDP on stronger business spendingJapan's economy grew faster than the initially estimated in the April-June quarter, helped by solid capital expenditure, although a resurgence in Covid-19 is undermining service-sector...Apple to hold event on Sep 14, new iPhones expectedApple said on Tuesday (Sep 7) it would hold a special event on Sep 14, which most industry watchers believe will be used to unveil...BlackRock's China unit raises US$1 billion in maiden mutual fundBlackRock's China mutual fund subsidiary set up its first fund in the country after raising 6.68 billion yuan (US$1.03 billion) during a shortened subscription period,...Oil holds steady on slow return of US supplies after Hurricane IdaOil prices were little changed on Wednesday following overnight losses from a stronger dollar and demand concerns, with a slow production restart in the US...Indian growers gather outside Delhi to protest farm lawsThousands of Indian farmers gathered in a large grain market outside New Delhi on Tuesday, protesting new agricultural laws they say threaten their livelihoods and...UK house prices jump as market strength persistsBritish house prices rose sharply last month in a further sign of strong momentum in the market even after the partial withdrawal of tax breaks...Softbank agrees strategic share swap pact with Deutsche TelekomJapan's Softbank Group said on Tuesday it had agreed a strategic partnership with Deutsche Telekom, Germany's main telecoms company, which will receive 45 million shares...Shipping industry proposes levy to speed up zero carbon futureLeading shipping associations have proposed creating a global levy on carbon emissions from ships to help speed up the industry's efforts to go greener.With about...Hyundai to offer hydrogen fuel cell versions of all commercial vehicles by 2028Hyundai Motor Group said on Tuesday it plans to offer hydrogen fuel cell versions for all its commercial vehicles by 2028 and will cut the...European banks still booking profits in tax havens: reportTop banks in Europe continue to use tax havens to book chunks of profits, a trend that has changed little since 2014 despite country-by-country disclosures...ShopUp raises $75m in investmentThe country's largest business-to-business (B2B) e-commerce platform, ShopUp, yesterday said it raised $75 million or nearly Tk 640 crore in its latest round of fund-raising...Peace Centre, Peace Mansion up for en bloc sale with S$650 million reserve priceShopping mall Peace Centre and adjoining apartment complex Peace Mansion have been put up for collective sale at a reserve price of S$650 million, said...Germany's auto show tries for more climate friendly imageGermany's biggest motor show, taking place in Munich this week, is no longer just about cars.This year's IAA show, the first major motor industry event...Singapore lifts suspension of Boeing 737 MAX aircraft after technical assessmentThe Civil Aviation Authority of Singapore (CAAS) lifted a suspension on Boeing 737 MAX aircraft flying in and out of the country from Monday (Sep...‘Silent crisis’ looms as US to end Covid aid for millions of joblessSpending less on food. Drawing down on retirement savings. Dropping out of the workforce altogether.Last year, the United States massively expanded unemployment aid as Covid-19...Rats, drought and labour shortages eat into global edible oil recoveryIn a sprawling oil palm plantation in the Malaysian state of Perak, watermelon seedlings are sprouting from freshly ploughed earth between palm saplings while rented...High prices, shortages plague US services sectorThe massive US service sector continued expanding in August but businesses remained worried about high prices and shortages of materials and labor, although there were...Small businesses struggle to survive as Taliban uncertainty deepensFor 10 years Fahad made a good living selling wedding gowns at his bridal shop in the Afghan capital, but since the Taliban rolled into...Alibaba to invest $15.5b for ‘common prosperity’China's Alibaba Group will invest 100 billion yuan ($15.5 billion) by 2025 in support of 'common prosperity', it said, becoming the latest corporate giant to...Marine fisheries have vast role in development of blue economy: RezaulFisheries and Livestock Minister SM Rezaul Karim said that marine fisheries have a huge role to play in the development of blue economy."We need to...China set to open new stock exchange in BeijingChina has announced plans to set up a third stock exchange to serve small and medium-sized businesses.China President Xi Jinping said the new share market...Singapore retail sales rise at slower pace of 0.2% in JulySingapore's retail sales rose at 0.2 per cent in July on a year-on-year basis, as a result of the Phase 1 measures in place in...US companies lash out at Texas law changes, including abortion banU.S. companies including Lyft Inc, American Airlines Group Inc and Silicon Laboratories Inc voiced their displeasure on Friday at new Texas laws on abortion, handguns,...Poor US jobs growth shows Delta impactThe US economy added fewer jobs than expected in August as employment rose by 235,000.The figure was well down on the 1.05 million jobs created...US energy firms strain to shake off hurricane’s tollUS oil and gasoline firms strained to get offshore operations again up and operating on Thursday because the extent of Hurricane Ida's damages grew to...India’s gasoline demand hitting recordIndia's gasoline demand is set to hit a record this fiscal year, with consumption accelerating as more people hit the road for business and leisure...Chinese regulators raise concerns with ride-hailing firmsChinese regulators summoned 11 ride-hailing firms including Didi Global Inc, Geely's Caocao and Meituan's ride-hailing unit to a meeting, the transport ministry said on Thursday,...MAS issues prohibition orders to 2 former brokerage representatives for dishonestyThe Monetary Authority of Singapore (MAS) issued prohibition orders to two former brokerage representatives for providing false information, it said on Thursday (Sep 2). The orders,...Canada economic recovery comes to a surprise haltCanada's economic recovery came to a surprise and screeching halt in the second quarter, casting a pall over snap elections called by Justin Trudeau to...Indian economic growth leaps despite pandemic curbsIndia's economy rebounded in the April-June quarter even while a devastating second wave of Covid-19 swept the country, with growth of over 20 per cent...US consumer confidence drops on Delta fearsFear of the fast spreading Delta variant of Covid-19 and rising prices undermined Americans' confidence in August, according to a survey released Tuesday.The Conference Board...BOJ's deputy governor warns against premature monetary tighteningThe Bank of Japan must avoid reducing stimulus even if rising raw material costs push up inflation, deputy governor Masazumi Wakatabe said, reinforcing expectations it...China moves to cap the cost of renting a home in citiesThe Chinese government has said the cost of renting a home in cities should not rise by more than 5 per cent a year -...China’s economy under pressure as factory activity slowsChina's businesses and the broader economy came under increasing pressure in August as factory activity expanded at a slower pace while the services sector slumped...Google, Facebook, Microsoft top EU lobbying spending: studyAlphabet Inc's Google unit, Facebook Inc and Microsoft Corp are the three biggest lobbying spenders in Europe in a battle against tough new laws aimed...Hong Kong dismisses business pushback over ‘zero-Covid’ strategyHong Kong's leader doubled down on her zero-Covid strategy on Tuesday, brushing off growing pushback from the business community over the city's indefinite international isolation.The...Tencent shares fall after China tightens rules for young video gamersShares of Tencent Holdings Ltd dropped nearly 3 per cent on Tuesday (Aug 31), after China announced new rules forbidding under-18s from playing video games...