Market

US weekly jobless claims fall modestly; labour market recovery slowing
1Dec By Team FPNo Comments
Market, World

US weekly jobless claims fall modestly; labour market recovery slowing

WASHINGTON: The number of Americans filing new claims for unemployment benefits fell only slightly last week, adding to signs that the economic recovery was losing steam as the COVID-19 pandemic intensifies and fiscal stimulus ends. The economy could be plunged into a period of uncertainty following Tuesday's presidential election, potentially undermining business investment and delaying a much-needed second coronavirus relief package from the government. Democrat Joe Biden edged closer to victory on Thursday (Nov 5), while President Donald Trump alleged fraud without providing evidence, filing lawsuits and calling for recounts in a race yet to be decided two days after polls closed. "It looks like a second wave of layoffs is hitting the economy perhaps due to the rising count of vi...
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Despite growing tensions, China buying computer chips from Taiwan firms
27Nov By Walter ParezNo Comments
Asia, China, Market, World

Despite growing tensions, China buying computer chips from Taiwan firms

Despite growing tensions between Taiwan and China, Chinese technology companies have increased orders for computer chips or semiconductors made in Taiwan.According to media reports, Taiwan has reported a six per cent jump in export from July through September this year.Alicia Garcia Herrero, chief Asia-Pacific economist with the French investment bank Natixis said, “They (Chinese firms) know they’re not yet able to produce at least the highest-end semiconductors needed for 5G.”She added that Taiwan makes top-level semiconductors and is unlikely to give up as a leader in the field. Taiwan factories produce some of the world’s top computer chips. But during the past four years, it has pushed companies to depend less on the Chinese market.The two countries have been locked in a political disp...
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Commentary: No worker is untrainable. Employers have to step up to help
25Nov By Team FPNo Comments
Market, Singapore, World

Commentary: No worker is untrainable. Employers have to step up to help

The words 'upskill' and 'retrain' accompany almost every report on jobs. PeopleSearch’s Jaime Lim weighs in on how companies can work with employees who find it a struggle. SINGAPORE: As the COVID-19 pandemic continues to batter the economy, the threat to jobs remains formidable. According to the Ministry of Manpower, retrenchments in the second quarter more than doubled to 8,130 from the first quarter figure of 3,220. Global economic uncertainties are likely to continue weighing down the labour market for the rest of the year. As displaced workers struggle to take their next steps, the Government has been substantially boosting its training support programmes. Recently, Deputy Prime Minister Heng Swee Keat announced a six-month extension of the Enhanced Training Support Package to...
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Wild 2020 is shaping up to be a surprisingly normal year for buy-and-hold investors
22Nov By Team FPNo Comments
Market, World

Wild 2020 is shaping up to be a surprisingly normal year for buy-and-hold investors

People pass by the exterior of New York Stock Exchange (NYSE) on November 4, 2020 in New York. Kena Betancur | AFP | Getty Images By now, "2020" has become four-digit shorthand for the unprecedented, unsettling and unbelievable. Yet in the markets, from point to point, this year has been surprisingly normal for a buy-and-close-your-eyes investor. After last week's tension-release rally, the S&P 500 has posted an annualized gain of about 10% for 2020, or 12% or so including dividends, right in line with the historical yearly average. For investors in a traditional balanced portfolio of 60% stocks and 40% bonds, the returns are almost the same – a bit better than the long-term average for this strategy, but not by much. Now, sure, the path has been wild. Since the year began, the S&P 500 we...
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Anti-China protests gain momentum in Argentina
21Nov By Mike TrudellNo Comments
China, Market, USA, World

Anti-China protests gain momentum in Argentina

Between 2005 and 2019, Argentina has received maximum investment from China amounting to US$30.6 billion, which is 39 per cent of the total Chinese investment in South America.At the heart of the new Chinese investments in Argentina, is the proposal to build 25 industrial pig farms in Argentina, which will significantly increase pork exports to China. The project involving investment of US$3.8 billion, is expected to generate annual production of 900,000 tons amounting to US$2.5 million in annual exports.As per media reports, the pig farms will be set up with Chinese investment in partnership with local producers in Argentina, which currently has 10 industrial pig farms exclusively for export to China. In addition, 25 new farms are due to start operation in the next six years, which will e...
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J&K: Industrial Association Kashmir hold oath ceremony of newly elected body
19Nov By Joe RodriguezNo Comments
Asia, Market

J&K: Industrial Association Kashmir hold oath ceremony of newly elected body

In the Indian union territory of Jammu and Kashmir (J&K), Industrial Association Kashmir held an oath ceremony to welcome a newly formed body headed by Imran Murtaza and senior vice President Zahoor Ahmad Malik of Agrino Snacking.During the event, the speakers stressed upon entrepreneurship and the scope of the manufacturing sector in Kashmir. Also, the speakers applauded the role of J&K Bank regarding the industrial sector in the estate.Industrial estate Khanmoh produces a great variety of products like POP, bakery, cement products, milk, and furniture, mainly for the consumption of the local market.Dignitaries who were present at the function included MD SIDCO, Agha Aijaz Hussain; J&K Bank zonal officer, Rais Maqbool; FCIK president, Shahid Kamili; Sheikh Ashiq, President KCC...
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Malaysia’s AirAsia Group reviewing India investment, hints at possible exit
17Nov By Team FPNo Comments
Asia, Market, World

Malaysia’s AirAsia Group reviewing India investment, hints at possible exit

KUALA LUMPUR: Malaysia's flagship budget carrier AirAsia Group has given its strongest indication to date that it could exit India, saying on Tuesday (Nov 17) it was reviewing its investment in a joint venture airline there. The group said in a statement that its operations in India, like those of its now-shuttered Japan business, have been draining cash and adding to the group's financial stress. "Cost containment and reducing cash burn remain key priorities evident by the recent closure of AirAsia Japan and an ongoing review of our investment in AirAsia India," it said. AirAsia shut its operations in Japan, the smallest of its foreign offshoots, last month. The airline owns 49 per cent of AirAsia India, a joint venture with Tata Sons. The Times of India reported last month, citi...
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Delhi Court rejects bail plea of Chinese national arrested under Official Secrets Act
17Nov By Joe RodriguezNo Comments
Asia, China, Market

Delhi Court rejects bail plea of Chinese national arrested under Official Secrets Act

A bail petition by Miss Qing Shi, a Chinese National arrested in India by special cell of Delhi Police under the Official Secrets Act has been rejected by a Delhi Court.She was arrested along with freelance Journalist Rajeev Sharma and one other accused in September.While rejecting the bail, Chief Metropolitan Magistrate Pawan Singh Rajawat said that “no ground is made out to grant bail to Qing Shi at this stage.”The court noted that, if accused Wing Shi is released on bail, she will not only try to flee from the country through land routes but may also attempt to indulge in similar offences.The court also observed, “Furthermore, the other material which was recovered coupled with the preliminary electronic evidence collected by the investigating agency points towards involvement of accuse...
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A headless chicken: Multiple obstacles hit CPEC’S progress
17Nov By Brian ThompsonNo Comments
China, Market, USA

A headless chicken: Multiple obstacles hit CPEC’S progress

 A ‘headless’ body, officially admitted as such, is supposed to be taking (or delaying) decisions in Pakistan regarding the 60 billion-dollar China-Pakistan Economic Corridor (CPEC) project.The Pakistan Government’s ordinance under which the CPEC Authority (CPECA) was set up last year lapsed in July, 2020 and no fresh legal/constitutional arrangement has been made. Questioned by a parliamentary committee, the government said the body is headed by “no one.”The man placed at the top of CPECA, retired Lt. general Asim Bajwa, is working away from the office, and not drawing any salary. He was forced to resign as a Special Adviser of Prime Minister Imran Khan in October following media exposure about over 90 business firms his family has allegedly set up. He was holding dual charge and now, Kha...
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Analysis: Fear on the wild frontier as riskier stock markets left trailing
16Nov By Team FPNo Comments
China, Market, World

Analysis: Fear on the wild frontier as riskier stock markets left trailing

related media assets (image or videos) available. Click to see the gallery. 3 related media assets (image or videos) available. Click to see the gallery. Frontier stocks have trailed bigger emerging markets in recovering from the coronavirus-induced crash as liquidity has dried up and investors beat a hasty retreat. LONDON: Frontier stocks have trailed bigger emerging markets in recovering from the coronavirus-induced crash as liquidity has dried up and investors beat a hasty retreat. BMO Global Asset Management shut a US$78 million fund and Aberdeen Standard Investments wound up an investment trust, both invested in frontier stocks, in recent months after fellow fund manager Barings took a similar step last year. Money managers say assets under management in dedicated frontier fu...
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