SINGAPORE – As Singapore celebrates its 54th National Day, Singaporeans must stay strong and united to tackle looming challenges together, President Halimah Yacob said on Wednesday (Aug 7). In a National Day greeting video posted on Facebook, she said the trade dispute between the United States and China, weakening global demand and growing protectionism will […]
SEOUL • North Korea fired two unidentified projectiles from South Hwanghae province into the sea to the east early yesterday, South Korea’s Joint Chiefs of Staff said, as the North’s Foreign Ministry protested against joint US-South Korea military drills as violations of diplomatic agreements. Criticising the allies’ joint drills and adoption of high-tech weapons, North […]
A bakery in the US has found itself at the centre of a geopolitical storm by giving a coffee to Taiwan’s president. The LA branch of Taiwanese-owned 85C Bakery Cafe gave the coffee, along with an enthusiastic welcome, to Tsai Ing-wen when she dropped in last Sunday. But many Chinese customers – who visit the […]
TOKYO (Reuters) – Japan’s Toshiba Corp (6502.T) reported on Wednesday a 10-fold jump in first-quarter operating profit as it stepped up cost cuts across divisions, but the profit missed analyst estimates. The Japanese conglomerate has been consolidating factories, cutting jobs, revamping the procurement method to compensate for the loss of the prized chip business, sold […]
NAGOYA, Japan (Reuters) – A Japanese banking lobby head warned of the dangers to the industry if the central bank topped up its already extreme monetary stimulus or deepened negative interest rates, amid signs authorities may have to do just that to support growth. The escalating U.S.-China trade war has jolted financial markets and triggered […]
SINGAPORE – As delegates from 70 countries gathered in Singapore on Wednesday (Aug 7) for the signing ceremony of the Singapore Convention on Mediation, Singapore Prime Minister Lee Hsien Loong has described the international treaty as a powerful statement in support of multilateralism. The UN Convention on International Settlement Agreements Resulting from Mediation – adopted […]
SHANGHAI/SINGAPORE (Reuters) – China’s state banks have been active in the onshore yuan forwards market this week, using swaps to tighten dollar supply and support the Chinese currency, four sources with knowledge of the matter told Reuters. The spot value of the yuan has fallen sharply this week against the dollar as tensions between China […]
Sushma Swaraj, one of India’s best known politicians, has died. Ms Swaraj, who served as foreign minister for five years, suffered a cardiac arrest on Tuesday, the Press Trust of India said. She was a popular minister in Narendra Modi’s first term as prime minister, but did not contest parliamentary elections earlier this year. She […]
SEOUL (Reuters) – Oil fell on Wednesday as the intensifying Sino-U.S. trade dispute stoked worries over demand, although a drop in U.S. crude inventories offered some support to prices. International benchmark Brent crude futures LCOc1 were at $58.70 a barrel by 0039 GMT, down 24 cents, or 0.41%, from their previous settlement and trading near […]
TOKYO (Reuters) – The dollar fell against the yen as Japanese stocks opened lower on Wednesday in a sign markets remain nervous about U.S.-China trade frictions following major foreign exchange volatility in the previous session. Traders await China’s central bank fixing for the onshore yuan later on Wednesday and currencies are expected to remain stable, […]