SEOUL (BLOOMBERG) – How much are sanctions hurting Kim Jong Un? North Korea’s economy has not been in such bad shape since his father was battling floods, droughts and a famine that some estimates say killed as much as 10 per cent of the population. The South Korean central bank’s annual report on its northern […]

NEW DELHI — A residential building in Mumbai, India’s busy financial center, collapsed on Tuesday, killing at least five people and trapping more than 40 others, officials said. The four-story building, which was estimated to be up to 100 years old, caved in around 11:40 a.m. in Dongri, a neighborhood in south Mumbai. Residents living […]

(Reuters) – British fashion brand Burberry’s shares jumped on Tuesday, lifting other luxury goods makers, while upbeat earnings from big Wall Street banks spurred gains for the region’s lenders, driving major European markets to their highest closing levels in a week. Burberry’s shares (BRBY.L) surged 14.4%, their biggest one-day gain in 7 years, as quarterly […]

PARIS (Reuters) – Federal Reserve Chair Jerome Powell reiterated pledges to “act as appropriate” to keep the U.S. economy humming in a speech on Tuesday that did not deviate from expectations that an interest rate cut is on the way. Many Fed officials said at their most recent meeting that concerns including a U.S. trade […]

SINGAPORE – More rain, with some thundery showers, can be expected in the later part of July, the Meteorological Service Singapore said on Tuesday (July 16). Widespread thundery showers, at times heavy, can be expected on two to three days due to large scale wind convergence over Singapore and the region. There could also be […]

HANOI (DPA) – Vietnam is exercising its “sovereign rights and jurisdiction in a peaceful and lawful manner”, the government said on Tuesday (July 16) amid reports of a standoff between Vietnamese and Chinese naval forces in disputed waters in the South China Sea. In response to journalists’ questions about the reported standoff, Ministry of Foreign […]

SINGAPORE – About 160 foreign work pass holders – mostly foreign domestic workers – who borrowed money from unlicensed moneylenders and loan sharks have been repatriated since last October and barred from employment here. Also, two maids are being investigated by the Ministry of Manpower (MOM) for acting as brokers for licensed moneylenders and profiting […]

Just as New Zealand is dealing with losing the Cricket World Cup to England, it’s suffered another blow: the country no longer has the “world’s steepest street”. For years, Dunedin’s Baldwin Street proudly held that title, and was listed in the Guinness Book of Records. But on Tuesday, the accolade went to a little lane […]

SINGAPORE – Fashion giant H&M will soon start charging customers in Singapore 10 cents for each plastic or paper bag as part of a new initiative to reduce waste. The move, which takes effect at all H&M stores from next Thursday (July 25), is part of a packaging strategy to reduce plastic use in the […]

MUMBAI (REUTERS) – A four-storey building collapsed in India’s financial capital of Mumbai on Tuesday (July 16), trapping dozens in the rubble, with at least four people confirmed dead, a fire department official said. “There are people trapped under the debris. Search and rescue operations are in progress,” said PS Rahangdale, chief fire officer in […]