World

BEIJING: China's factory activity grew at its fastest pace in six months in December, driven by production hikes and easing price pressures, but a weaker job market and business confidence added uncertainty, a private survey showed on Tuesday (Jan 4). The Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) rose to 50.9 in December - its highest level since June. Economists in a Reuters poll had expected the index to rise to 50.0, which separates growth from contraction on a monthly basis, from November's 49.9. The relative strength in the Caixin PMI tallies with an official survey released on Friday which showed China's factory activity edged up. Factory output increased at the fastest pace in a year, the private survey showed, helped by easing price pressures. A gauge of input...

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An acceleration of Sino-U.S. tensions may jeopardize the security environment in East Asia in 2022 ahead of key political events in the world’s two major powers, making circumstances surrounding Taiwan and North Korea more volatile. Relations between Beijing and Washington would deteriorate further as U.S. President Joe Biden is set to take a tougher approach to the Communist-led government to garner support from voters with anti-China sentiment before the midterm elections in November. While Chinese President Xi Jinping is expected to intensify provocations against Taiwan to pave the way for his controversial third term as leader, U.S.-North Korea talks on denuclearization and sanctions relief are almost certain to make no headway. To ease security concerns in the region, Japan and Sou...

NEW YORK :Oil prices rose slightly on Thursday on expectations that fuel demand held up despite soaring Omicron coronavirus infections and that OPEC and its allies would continue to increase imports only incrementally. Gains eased as the world's top importer China cut the first batch of crude import allocations for 2022. Brent crude futures settled at US$79.32 a barrel, up 9 cents, or 0.11per cent. U.S. crude futures rose 43 cents, or 0.56per cent, to settle at US$76.9 a barrel, the seventh straight session of gains. "We've had incredibly strong demand numbers through December, so now the question is what OPEC will do," said John Kilduff, a partner at Again Capital Management in New York. Kilduff expects the Organization of the Petroleum Exporting Countries and its allies, known as OPEC...

U.S. Senate Majority Leader Chuck Schumer (D-NY), House Speaker Nancy Pelosi (D-CA) and Congressional Democrats discuss the 'Build Back Better Act' and climate investments during a news conference at the U.S. Capitol in Washington, November 17, 2021. Elizabeth Frantz | Reuters Congressional Democrats will return next year and try to check a few long-floundering items off their to-do list before the 2022 midterms consume Washington. The next few months in the Capitol could shape the economic health of U.S. households for years to come. The scope of Democrats' accomplishments could also play a role in whether they hold control of one or both chambers of Congress for the second half of President Joe Biden's first term. Biden's Build Back Better Act weighs the most heavily on Democratic minds...

CHENNAI, India: Apple supplier Foxconn's plant near Chennai in southern India will remain shut this week following protests sparked by a food poisoning incident, three government sources told Reuters on Tuesday (Dec 21). The factory looked deserted on Tuesday, with a few cars including a police vehicle parked outside. No workers were seen at the site, which was manned by two guards and a few other security officials. Foxconn and Apple were not available for comment. The disruption comes as Apple, like other consumer products companies, is dealing with supply chain bottlenecks that have hit production. In October, the company warned that the impact of these supply chain problems would worsen during the holiday quarter. "The factory has been shut since Saturday and will be shut till comi...

MANAGING OMICRON The infections come amid an increase in the number of passengers passing through Changi Airport over the past year. Passenger traffic rose to 15 per cent of pre-pandemic levels by the end of December, up from just 3 per cent at the start of 2021. With the rapid spread of Omicron overseas, MP Leon Perera (WP-Aljunied) and MP Desmond Lim (WP-Hougang) asked whether Singapore will review border control measures and if it will allow more flights during festive periods such as Chinese New Year and Hari Raya. In response, Mr Iswaran said that the government will closely monitor the demand for VTL flights and will regularly review the VTL quotas, taking into consideration the prevailing public health assessment. He added that the overall quota of inbound VTL travellers is allo...

SINGAPORE: A man accused of cheating a woman into transferring S$1.5 million to a bank account for a loan of S$15 million said in court on Friday (Jan 7) that he is a "respectable businessman" who has completed multimillion-dollar development projects. Wong Poh Kun, 68, said: "So why would I cheat someone for a small sum of S$1.5 million? It doesn't make sense at all." On Friday, Wong was handed one charge of cheating. He is accused of cheating a woman on Feb 27 last year, by deceiving her into believing that the S$1.5 million she was transferring to Asia Alternative Fund's bank account was meant for a loan of S$15 million. The victim then transferred the S$1.5 million to a DBS bank account. A police news release on Thursday stated that the victim filed a report in July last year sayin...

JOHANNESBURG : Victorious India will seek more of the same when the second test against South Africa starts at The Wanderers on Monday, but for the home side there is much to ponder as they try to level the series at a ground where they have never beaten the visitors. India’s comprehensive 113-run first test win was built on a solid first day with the bat and their hugely impressive pace attack on a spicy wicket, and sets them up for a first ever series win in South Africa. Injuries aside, India are unlikely to change their team, though the form of batsmen Cheteshwar Pujara and Ajinkya Rahane remains under scrutiny. The tourists won on their last visit to The Wanderers in 2018, a gutsy performance on a difficult wicket which captain Virat Kohli believes paved the way for their recent su...

The data deluge brought about by rapid digitalisation, compounded by the widespread adoption of technologies like cloud, means that sensitive data is increasingly being stored on remote computer servers. Securing the transmission and retrieval of data relies on encryption of information sent over public networks. Asia is a major global economic hub where data remains at risk due to weak data infrastructure. In countries such as Singapore, Indonesia and Thailand, cybersecurity is already a growing priority for investment and policymaking alike. As the region approaches a point of inflection in the current climate, there is a pressing need to quickly implement tighter management measures to achieve more secured communication and data protection. Quantum physics is poised to revolutionise a...