Archive / Business - 2021
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Apple plans classical music app with buy of PrimephonicApple on Monday (Aug 30) announced it is buying classical music streaming service Primephonic and will launch an app dedicated to the genre.Apple did not...Australia considering new laws for Apple, Google, WeChat digital walletsThe Australian government is considering new laws that would tighten the regulation of digital payment services by tech giants such as Apple and Alphabet's Google.Treasurer...China August factory activity seen growing at slower paceGrowth in China's factory activity likely cooled further in August, a Reuters poll showed on Monday, as Covid-related restrictions and high raw material prices continued...Australian economy slowing in Q2Australia's economy was likely already slowing before wide-scale coronavirus restrictions shuttered swathes of business and jobs, setting the stage for a vicious contraction this quarter.There...Japanese food giant Kikkoman wants soy sauce to be the 'ketchup of India'Every dish tastes better with a dash of soy sauce, even dessert: That's the ambitious pitch of Japanese food giant Kikkoman, hoping to persuade Indians...Researchers, cybersecurity agency urge action by Microsoft cloud database usersResearchers who discovered a massive flaw in the main databases stored in Microsoft's Azure cloud platform on Saturday (Aug 28) urged all users to change...Automobiles restrain US consumer spendingUS consumer spending slowed in July as a decline in motor vehicle purchases due to shortages offset a rise in outlays on services, supporting views...Biden admin defends approving licences for auto chips for HuaweiThe Biden administration, which was criticized this week for approving licenses for auto chips for Huawei, said it has not changed the policy on restricting...Powell’s wait-and-see speech reassures some investorsFederal Reserve Board Chairman Jerome Powell's wait-and-see approach in Friday's long-awaited address gives investors and market participants an extraordinary central bank to support the economy....Changi Airport to reopen Terminals 1 and 3 to the public on Sep 1Changi Airport will reopen Terminal 1 and Terminal 3 to the public on Sep 1, more than three months after they were closed to non-travellers.Public...China targets US IPOs, algorithms, cloud in latest tech takedownChina has launched a multi-pronged attack on its tech companies, threatening to curb their ability to list in the United States, seeking to tighten up...Nvidia set to seek EU okay for US$54 billion Arm dealNvidia is likely to seek EU antitrust approval for its US$54 billion takeover of British chip designer Arm early next month, with regulators expected to...Bitcoin fever reaches Honduras with first cryptocurrency ATMThe first cryptocurrency ATM in Honduras opened this week as bitcoin backers sought to spur demand for virtual assets after neighboring El Salvador became the...Afghanistan’s banks brace for bedlamAfghanistan's banks, critical to the country's recovery from crisis, are facing an uncertain future say its bankers, with doubts over everything from liquidity to employment...Western Digital in talks to merge with Japan's Kioxia -sourceU.S.-based Western Digital Corp is in advanced talks on a possible US$20 billion stock merger with Japanese chipmaker and partner Kioxia Holdings Corp, a person...Australia's Qantas posts fresh losses after 'diabolical' yearAustralian airline Qantas on Thursday (Aug 26) posted more than US$1 billion in annual losses, after what it described as a "diabolical" year caused by...US approves licences for Huawei to buy auto chipsUS officials have approved license applications worth hundreds of millions of dollars for China's blacklisted telecom company Huawei to buy chips for its growing auto...Samsung announces $205b investment planSamsung Group unveiled a $205 billion investment blueprint on Tuesday aimed at making the company a leader in a range of technologies from semiconductors to...Slow vaccination to cost global economy $2.3tr: studyThe slow rollout of coronavirus vaccines will cost the global economy $2.3 trillion in lost output, a report released Wednesday found.The Economist Intelligence Unit's study...China central bank increases cash injections to soothe tightening worriesChina's central bank increased short-term fund injections into the financial system on Wedneday, in a bid to soothe market worries over tightening liquidity.Primary interbank money...South Korea parliament committee votes to curb Google, Apple commission dominanceA South Korean parliamentary committee voted early on Wednesday (Aug 25) to recommend amending a law, a key step toward banning Google and Apple from...UK businesses fear for Afghan rug weaversOverseas businesses selling colourful handwoven rugs and vivid handblown glass from Afghanistan are concerned for their suppliers as the Taliban's takeover of the country threatens...Delta knocks wind out of Asia’s economic recoveryAsia's robust economic recovery from last year's coronavirus low is losing momentum as a surge in Covid-19 cases sees shops empty again and factories close,...World Bank 'deeply concerned,' pauses aid to AfghanistanThe World Bank has suspended aid to Afghanistan, saying it is "deeply concerned" by the situation there, especially regarding women's rights, after the Taliban seized...Oil jumps 5% after 7 days of losses, boosted by weaker dollarOil prices rose more than 5 per cent on Monday (Aug 23), as a weaker dollar and strong global equities markets boosted crude futures after...Digitalisation 'a very important enabler' of recovery in pandemic-hit retail sector, says Gan Kim YongDigitalisation is “a very important enabler” of recovery for the pandemic-battered retail sector, said Trade and Industry Minister Gan Kim Yong on Tuesday (Aug 24).Having...Carbon taxes could hurt Russia more than sanctions: reportIgor Sechin, chief of oil giant Rosneft, has told the Kremlin that carbon border taxes like the European Union's could inflict far greater damage to...Eurozone business boom roars on in AugustBusiness activity in the eurozone grew strongly again this month, only dipping from July's two-decade high monthly pace, as a rapid vaccination drive against the...UK business activity slows on supply crunch: surveyBritain's private sector business activity slowed sharply in August due to ongoing staff and supply shortages, a survey showed Monday.The composite purchasing managers' index (PMI)...Yellen backs reappointing Powell as Fed chairUS Treasury Secretary Janet Yellen has told senior White House advisers she backs reappointing Jerome Powell as US Federal Reserve Chair, whose term expires in...Taliban inherit untapped $1tr trove of mineralsThe Taliban now hold the keys to an untouched trillion-dollar trove of minerals including some that could power the world's transition to renewable energies, but...New ‘golden age’ in technology if US, China can build trust, sit at same table: Vivian BalakrishnanThere can be a new “golden age” in the digital arena if the United States and China can build up trust and engage each other,...Taliban inherit untapped US$1 trillion trove of mineralsThe Taliban now hold the keys to an untouched trillion-dollar trove of minerals including some that could power the world's transition to renewable energies, but...US moves to prolong jobless aidPresident Joe Biden's administration announced steps on Thursday to allow US states to continue expanded unemployment benefits as the country grapples with a surge in...VW reins in production for chip shortageGerman car giant Volkswagen will slash production at its main plant due to ongoing problems with the global supply of computer chips, a spokesman told...China passes tough new online privacy lawChina passed a sweeping privacy law aimed at preventing businesses from collecting sensitive personal data Friday, as the country faces an uptick in internet scams...Just 15km of Nord Stream 2 pipeline to go, says PutinThere are only 15km left to finish the Nord Stream 2 gas pipeline from Russia to Germany that bypasses Ukraine, Russian President Vladimir Putin said...Crisis pushes Afghanistan's economy closer to the brinkThe Taliban sweeping to power in Afghanistan has thrust one of the world's poorest countries back into the limelight.GLUM GROWTH PROSPECTSYears of violence, instability and...China revs up in race to a driverless futureLocated about an hour's drive from Beijing's city centre, in the west of the Chinese capital, sits what used to be one of China's largest...US deploy choppers to rescue of Americans trying to escape KabulThe US military in Afghanistan sent helicopters to rescue over 150 Americans unable to reach the Kabul airport gates, an official said Friday, in the...Toyota to slash production for chip shortageToyota Motor Corp will reduce global production for September by 40 per cent from its previous plan due to the worldwide shortage of semiconductors, the...Taiwan suggests state-owned banks buy stocks as market tumbles - sourcesTaiwan's Finance Ministry has called state-owned banks to suggest they buy an "appropriate" amount of stocks amid falls on the island's stock market, five people...Taiwan July export orders seen rising for 17th straight monthTaiwan's export orders likely rose in July for the 17th consecutive month, a Reuters poll showed on Thursday, buoyed by strong sustained demand for technology...Oil steadies, Delta outbreaks cloud demand prospectsOil prices steadied on Wednesday, after four days of declines with investors still wary about prospects for stronger fuel demand as the use of rail,...China’s steel curbs could cripple price control effortsChina is facing a high profile test of its commitment to curbing industrial pollution after steel output surged in the first half of the year...UK inflation slows but expected to rise againBritain's annual inflation rate slowed sharply last month as clothing retailers slashed prices in the pandemic-hit sector, official data showed Wednesday, but economists warned it...Vietnam to consider cutting rice production area due to low pricesVietnam will consider cutting the area under rice cultivation if prices of the grain fall further, the country's agriculture minister said, as farmers struggle to...China's pension funds post surge in investment returns in 2020Chinese pension funds posted an investment return rate of 15.84per cent last year, nearly doubling the 20-year average of 8.51per cent, a report from the...EV startups hunt for low-cost roads to mass productionElectric car and van startups racing to become the next Tesla Inc all want to avoid Elon Musk's journey through "manufacturing hell."But electric vehicle firms...Afghan changeover won’t affect tradeThe changeover of state power in Afghanistan may not affect business with Bangladesh as the bilateral trade volume is not that significant, said local businesspeople...