Market

Wall Street closes higher; Georgia election results loom
12Jan By Desk TeamNo Comments
China, Market, World

Wall Street closes higher; Georgia election results loom

NEW YORK :Wall Street shares gained on Tuesday in choppy trading, as investors took advantage of the previous session's slump to buy them back, ahead of the outcome of the Senate runoff elections in the battleground state of Georgia. NEW YORK -Shares on Wall Street ended higher on Tuesday in choppy trading, as investors took advantage of the previous session's slump to buy them back, ahead of the outcome of the Senate runoff elections in the battleground state of Georgia, which will determine the balance of power in Washington. Overall, analysts expect the stock market to consolidate December's gains in January, as asset managers looked to rebalance their portfolios that had been heavily tilted toward equities. The latest polls from data website 538 https://projects.fivethirtyeight....
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World shares down from record highs as COVID-19 cases top 90 million
11Jan By Desk TeamNo Comments
Asia, China, Market, World

World shares down from record highs as COVID-19 cases top 90 million

Asian shares took a breather on Monday while Treasury yields were at 10-month highs as "trillions" in new U.S. fiscal stimulus plans were set to be unveiled this week, stoking a global reflation trade. LONDON: World shares slipped from record highs on Monday as caution over rising coronavirus cases saw some profit-taking from investors, while Treasury yields remained close to 10-month highs, indicating expectations for global reflation from anticipated U.S. fiscal stimulus. Worldwide coronavirus cases surpassed 90 million on Monday, according to Reuters tally. European shares dipped in early trading, with rising coronavirus cases across the continent and China dragging down commodity stocks. Germany's DAX lost 0.75per cent, Britain's FTSE 100, Italy's FTSE MIB, and France's CAC 40 f...
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Trial to import electricity from Malaysia a ‘useful first step’ as Singapore prepares to connect with regional grid: Experts
8Jan By Desk TeamNo Comments
Asia, Market, Singapore, World

Trial to import electricity from Malaysia a ‘useful first step’ as Singapore prepares to connect with regional grid: Experts

SINGAPORE: A trial which will see Singapore import electricity from Peninsular Malaysia will be a "useful first step" in preparation for further moves to connect to the regional power grid, said experts. Announced in late October, the trial will see Singapore import 100 megawatts (MW) of electricity from Malaysia for two years. This will make up about 1.5 per cent of Singapore’s peak electricity demand. The move is part of Singapore's plan to strengthen the "regional grid architecture", said Minister for Trade and Industry Chan Chun Sing in a keynote speech delivered at the opening of the Singapore International Energy Week in October. “This will allow the region to share the clean energy sources that different countries may have, and we’ll start this with Malaysia," he said. "Once ...
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Jack Ma and the Chinese Economic Identity Crisis
30Dec By Online DeskNo Comments
Asia, China, Market

Jack Ma and the Chinese Economic Identity Crisis

The CCP has time and again demonstrated its nonchalant use of tyrannic authority over its own citizens; a rather transparent demonstration of its execution of oppressive control can be seen with the implementation of the social credit system; it provides a template for its citizens for acceptable social behavior. Offenses such as purchasing too many video games, spending money frivolously, and driving poorly, can warrant throttled internet connections, domestic travel bans, restricted access to education and employment, etc. Ironically, at the same time, China stands as an elected member of the UN Human Rights Council as of 13 October 2020. Unfortunately, the conventions of international affairs overlook these atrocities for the sake of diplomatic survival. In doing so, nations have au...
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EU and China to sign investment deal amid unease over rights
29Dec mmBy Mike TrudellNo Comments
China, Market, World

EU and China to sign investment deal amid unease over rights

Despite rising concerns about the human rights situation in Xinjiang, the European Union (EU) and China are set to sign a business investment deal, which, EU hopes will help correct an imbalance in market access and create new investment opportunities for European companies in China by ensuring they can compete on an equal footing.According to an EU official with direct knowledge of the talks, the provisional agreement is set to be announced on Wednesday.The deal was sealed after China committed to pursuing ratification of the International Labor Organization's rules on forced labor, according to the unnamed official.The EU previously said the agreement, known as CAI, which includes provisions for settling disputes, should increase the transparency of Chinese state subsidies and make susta...
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J&K: Young entrepreneur sells Kashmiri apples online, introduces new packaging
28Dec mmBy Joe RodriguezNo Comments
Asia, Market

J&K: Young entrepreneur sells Kashmiri apples online, introduces new packaging

In the Shopian district of the Indian union territory of Jammu and Kashmir, a young entrepreneur is selling world famous Kashmiri apples online by bringing much-needed reforms in the fruit’s packaging at par with global standards.Adnan Ali Khan, 30, has now emerged as a local hero by setting up a supply chain that ensures fair prices to farmers by helping them sell their products on the internet.Khan, a fourth-generation farmer from his family, completed engineering and MBA and is now doing his PhD on “value addition, planning and marketing of Kashmiri products”.He launched his online venture that delivers Kashmiri apples to the doorstep upon receiving orders online.He is probably the first Kashmiri to sell apples in retail packs on the internet. Adnan made his debut in September when he s...
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Shortages, jams and shutdowns: UK readies for Brexit ‘no-deal’ chaos
26Dec By Desk TeamNo Comments
Market, World

Shortages, jams and shutdowns: UK readies for Brexit ‘no-deal’ chaos

LONDON: Food shortages, tailbacks and congested ports: As talks with Brussels remain unresolved three weeks before leaving the European Union single market, the United Kingdom is preparing for a chaotic "no-deal". Business groups this week warned of difficulties from Jan 1 as a frustrating lack of clarity on a post-Brexit trade deal has left many companies unable to plan properly. "While Britain's businesses are hoping that a Brexit deal will be reached, companies across many sectors will face disruption," said Darren Jones, chair of the parliament's Business, Energy and Industrial Strategy Committee, after meeting business representatives on Tuesday (Dec 8). Businesses warned of "potential food shortages and price rises, and the threat of heaping significant costs onto our car indu...
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Airbnb doubles in US market debut, gaining elite status
26Dec By Desk TeamNo Comments
Market, World

Airbnb doubles in US market debut, gaining elite status

NEW YORK: Airbnb shares more than doubled in a sizzling US market debut on Thursday (Dec 10) which vaulted the home-sharing platform into an elite group of richly valued companies. Shares opened at US$146, a dizzying rise after the San Francisco-based firm priced them at US$68 for its initial public offering. They closed at US$144.71, a jump of 113 per cent in the market debut. At those levels Airbnb is worth more than US$100 billion, including options and restricted shares, up from the bumped-up US$47 billion at the IPO price. That puts the 13-year-old company on par with major global firms such as IBM, 3M and American Express, for example. Airbnb raised some US$3.4 billion in the offering amid a feverish rush for new shares in companies adapting to lifestyle changes imposed by t...
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J&K: IIP Mumbai conducts workshop on customized packaging to boost export
23Dec mmBy Joe RodriguezNo Comments
Asia, Market

J&K: IIP Mumbai conducts workshop on customized packaging to boost export

In order to boost global exports of famed handicrafts and handloom products from the Indian union territory of Jammu and Kashmir (J&K), the Indian Institute of Packaging (IIP), Mumbai, in collaboration with Handicrafts and Handloom Department, Kashmir, conducted a workshop with craft entrepreneurs on customized packaging.The workshop laid emphasis on standard packaging of various Kashmir-based craft products like Pashmina and Kani Shawls, Papier Mache, Walnut Wood Carving, Carpets, Sozni, Crewel and Chain-Stitch embroidery for stimulation of customer interest in the national and international markets.Director, Ministry of Commerce, Praveen Kumar; Director, IIP Mumbai, Tanweer Alam; Director, Industries, Kashmir, Mahmood Ahmad Shah; Director, Handicrafts & Handloom, Kashmir, Mussara...
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US Prez signs bill that could remove Chinese stocks from US markets
20Dec mmBy Mike TrudellNo Comments
China, Market, World

US Prez signs bill that could remove Chinese stocks from US markets

United States President Donald Trump has signed a legislation with a potential to kick Chinese companies off of U.S. exchanges unless American regulators can review their financial audits.The measure, which could affect corporate giants like Alibaba Group Holding Ltd. and Baidu Inc., is yet another parting shot at China before Trump leaves office in January.The de-listing law won bipartisan support in the House early this month after clearing the U.S. Senate in May. While it applies to any foreign company, the bill’s sponsors have said their goal was to target China.For years, Chinese firms have used American capital markets and dollar-based finance as a key funding component to grow their businesses. While the measure includes a phase-in period, with penalties kicking in after three strai...
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