Finance & Economics
IMF’s global financial system cyberattack wargame a signal of what is to come?
Israel on Thursday led a 10-country simulation of a major cyberattack on the global financial system in an attempt to increase cooperation that could help to minimise any potential damage to financial markets and banks. The simulated “war game”, as Israel’s Finance Ministry called it and planned over the past year, evolved over 10 days,…
Read MoreSingapore increases gold reserves by 20%, first increase in holding in decades
Singapore increased its gold reserves by about 20 per cent earlier this year in a largely under-the-radar move that saw holdings expand for the first time in decades. The purchases, which totaled about 26.3 tonnes, took place over May and June, according to data from the Monetary Authority of Singapore’s International Reserves and Foreign Currency…
Read More[ The Irrawaddy ] Myanmar Military’s Joint Venture Brewery to be Dissolved After Product Boycott
Source: https://www.irrawaddy.com/news/burma/myanmar-militarys-joint-venture-brewery-to-be-dissolved-after-product-boycott.html Myanmar Brewery Co, which once manufactured the best-selling beer brands in Myanmar, is to be dissolved. The company is a joint venture between Japanese beverage giant Kirin and the military-owned conglomerate Myanma Economic Holdings Public Co. Ltd (MEHL). On November 19, MEHL made an application to the Yangon Region Western District Court to…
Read MoreErdogan Becoming a Liability for Turkey
Last month Turkey made it into the grey list of the Financial Action Task Force (FATF), the global money laundering and terrorist financing watchdog headquartered in Paris. Turkey now joins its close ally Pakistan in FATF’s crosshairs. Surprisingly Turkey becomes the largest economy to be included in this list. The FATF listing for Ankara comes on the…
Read More[ Taiwan News ] 32 countries to remove China from preferential tariff treatment on Dec. 1
China Customs says 32 countries will no longer provide preferential tariff treatment to the world’s largest exporter from Dec. 1, and an economic expert says labor-intensive businesses will bear the brunt of the development. According to a statement recently issued by the General Administration of Customs of China (GACC), 32 countries will remove China from…
Read More[ CNA ] Tougher competition but Singapore will take it in stride: PM Lee on G20’s corporate tax deal
“I think it is an effort by countries to come together to be able to have a united front in improving the bargaining position against companies which have very considerable pulling power,” he said. “I think I can understand what they are trying to do, but I think the dynamic will not fundamentally change and…
Read MoreFormer US President Trump launching new Social Media Network: TRUTH Social
Former US President, Donald J Trump finally made good on his promise to launch his own social media platform to compete against the Big Tech companies that had collectively censored and kick him off their respective platforms. Trump Media & Technology Group (TMTG) merged with Digital World Acquisition Corp. (NASDAQ: DWAC), to immediately fast track…
Read More[ TIME ] China, Isolated From the World, Is Now the Last Major Country Still Pursuing a ‘Zero COVID’ Strategy
Now, with the rise of the delta variant and the proliferation of vaccines, only one is still holding fast to that goal of eliminating Covid-19: China. With New Zealand preparing to shift away from the zero-tolerance strategy, China’s isolation is complete, raising the stakes on how long it can stick to a playbook that requires closed borders,…
Read More[ AsiaOne / Straits Times ] Singapore inks deal for Merck antiviral pill to treat Covid-19 and its variants
The Republic has inked a supply and purchase agreement for an antiviral pill to treat Covid-19 that is said to be effective against all known variants of the virus, including the Delta variant. The drug was developed by pharmaceutical firm Merck in the United States and Canada, together with Miami-based Ridgeback Biotherapeutics. Merck is known as…
Read MoreEntire Facebook Network is Down for 8 hours
At around 11.45pm Singapore Time (GMT+8), the entire Facebook network went offline. This includes all the most popular/used apps like Facebook app, Instagram, WhatsApp and Facebook Messenger. It was only until around 45mins later where the official twitter account for the respective apps started announcing that their apps are having issue. Despite the term used…
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