(Reuters) – The U.S. Federal Reserve facilitated another $2 million in emergency loans this week to U.S. businesses struggling to survive the coronavirus-fueled recession, while its overall asset portfolio showed modest growth for a second week to hold above $7 trillion. Data released Thursday by the Fed showed the loan balance under its Main Street […]
Service buyers should not ask for reduced contract fees on the basis that their providers are receiving wage subsidies through the enhanced Jobs Support Scheme (JSS), the Manpower and Finance ministries have said. JSS payouts, which subsidise local workers’ wages, have sparked tension between property management councils and managing agents (MAs). Several letters to The […]
WASHINGTON (Reuters) – U.S. Senate Republicans will unveil their proposal next week for a fresh round of coronavirus aid, including more direct payments to Americans and a partial extension of enhanced unemployment benefits, Senate Majority Leader Mitch McConnell said Thursday. McConnell spoke after four days of fits and starts in talks between Senate Republicans and […]
NEW YORK (Reuters) – The dollar slumped to its lowest in nearly two years on Thursday, as investors continued to sell the greenback on expectations a surge in coronavirus cases will make it difficult for the U.S. economy to outperform its peers. By contrast, the euro rose to its highest since early October 2018 after […]
(Reuters) – The Federal Reserve Board on Thursday broadened access to three of its lending facilities designed to provide a credit backstop to firms hurt in the coronavirus crisis, allowing broker dealers that meet certain minimums to participate. To get the programs — the Term Asset-Backed Securities Loan Facility (TALF), the Commercial Paper Funding Facility […]
BRUSSELS (Reuters) – The European Parliament will push for more of the EU recovery package to be spent on research and development, health and education and for a clearer link between economic aid and observing the rule of law, deputies said on Thursday. In their first debate on the agreement struck by EU leaders on […]
SINGAPORE – To celebrate the Singapore Botanic Gardens’ 5th anniversary as a Unesco World Heritage Site, the National Parks Board (NParks) has teamed up with the Singapore Symphony Orchestra (SSO) to hold a virtual concert this year. While the SSO has held many concerts in the park’s Shaw Foundation Symphony Stage, this year’s concert can […]
LONDON (Reuters) – British factory orders fell at the slowest pace since March this month and firms are more upbeat after the economic impact of COVID-19 caused the biggest collapse in demand since 1980 over the previous quarter. The Confederation of British Industry’s (CBI) monthly order book balance rose to -46 in July from -58 […]
SINGAPORE – From August next year, undergraduates entering Nanyang Technological University (NTU) will have to take up a common core curriculum that will enable them to make connections across disciplines and develop interdisciplinary knowledge and skills. The core curriculum courses will take up one-fifth of their academic workload, and are aimed at developing a range […]
HONG KONG (REUTERS) – Hong Kong reported 118 new coronavirus cases on Thursday (July 23), a daily record, including 111 locally transmitted cases, adding to a deluge of new infections that have hit the global financial hub in the past two weeks. Hong Kong extended strict social distancing measures on Wednesday as authorities reported 105 […]