Finance & Economics
ARTICLES
Erdogan 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…
[ 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…
[ 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…
Former 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…
[ 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,…
[ 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…
Entire 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…
[ Nikkei ] U.S. set to resume trade talks with China
U.S. Trade Representative Katherine Tai is expected to speak to Chinese vice premier Liu He by telephone over the next few days, calling on China to respect the “phase one” trade agreement it signed with Washington under former President Donald Trump. The U.S. also plans to resurrect partial exemptions on punitive tariffs to help curb the impact of…
[ Fibre2Fashion ] Chinese textile prices may go up 30-40% due to power cuts
Prices of textiles and garments made in China are likely to rise by 30 to 40 per cent in the coming weeks on account of planned shutdowns in industrial provinces of Jiangsu, Zhejiang and Guangdong. The shutdowns are due to the government’s effort to reduce carbon emissions and shortage of electricity production owing to short…
REGEN-COV monoclonal antibody therapy delivery will arrive in Singapore next month
According the Lianhe Zaobao, Singapore largest chinese newspaper/media outlet, a spokesman from the National Center for Infectious Diseases of Singapore (NCID) had confirmed to the Associated Press that the monoclonal antibody cocktail, casirivimab and imdevimab, developed by US drugmaker Regeneron and Swiss pharmaceutical company, Roche, will be expected to arrive in the island state next…
Ho Ching to handover Temasek Holdings’ top seat for a “second time” on Oct 1 after 17 years of service
Outgoing chief executive of Temasek Holdings, Ho Ching, will be stepping down from the board on Friday (Oct 1). Mdm Ho, who is also the wife of Prime Minister Lee Hsien Loong, said she has been “very much” a part of the leadership succession process after being in the company for 17 years. The company…
Indonesia give green light to the Singapore-Australia undersea powerline
Indonesia Government has given it’s support behind the Sun Cable’s Australia-Asia Powerlink (AAPowerLink) that would route solar powered electricity through Indonesia water to Singapore directly from Darwin, Australia. On the 23/09/2021 – Sun Cable announced a long term partnership with the Indonesian government which will include investment and jobs, knowledge sharing with academic institutions and…
[ ABC Rural ] Coking coal price hits record highs as Chinese steel-makers face pain
The price of metallurgical coal has risen to record levels as trade tensions and border problems push the cost for Chinese importers sky-high Coal for coking purposes has soared despite declines in iron ore values attributed to Chinese steel-makers abiding by a government directive to avoid buying from Australia. The value has surged to $US410 a tonne…
Singapore to donate 60,000 doses of AstraZeneca vaccine to Batam, Indonesia
According the Antara News, the Batam Mayor Muhammad Rudi announced that Singapore government plans to provide 60,000 doses of AstraZeneca COVID-19 vaccine to the Singapore’s neighbouring island of Batam, a major city of Riau Islands, Indonesia. According to the Mayor, Singapore’s requirement for reopening of the Batam-Singapore border depends on Batam reaching 80% vaccination of…
Guinea coup: China’s bauxite conundrum?
According to worldatlas.com, Guinea is the 4th biggest exporter of bauxite, an alumnium ore. With 19.3 million metric tons produced annually, Guinea is also reputed to be the largest bauxite deposits in the world. (these numbers from worldatlas.com are outdated by the way ; but included for now just for context) With the economic warfare…
[ Forbes ] El Salvador Goes On A $21 Million Crypto Buying Spree As Bitcoin Becomes Legal Tender
El Salvador acquired roughly $21 million worth of bitcoin on Monday, President Nayib Bukele announced, buoying the crypto market ahead of making history Tuesday by becoming the first country in the world to formally adopt the digital currency as legal tender. El Salvador bought its first 400 bitcoins in two lots on Monday—worth an estimated $21 million…
[ SCMP ] Singapore residents who took Sinovac turn to Pfizer to up their antibody counts, amid debate on booster shots
Even after receiving her second dose of the Sinovac vaccine last month, Soh, a 43-year-old Singaporean, was unsure about her immunity levels. So she went to get an antibody test – and the result took her by surprise. Her antibody count stood at 140, a figure her doctor said was about 10 times lower than what someone…
[ Reuters ] Taliban launch charm offensive with Afghan banks amid funding fears
The new, Taliban-appointed head of Afghanistan’s central bank has sought to reassure banks the group wants a fully-functioning financial system, but has so far provided little detail on how it will supply funds to sustain it, said four bankers familiar with the matter. The acting central bank governor, Haji Mohammad Idris, met members of the…
FEATURED