World

BENGALURU : India's retail inflation held steady in August, staying within the central bank's comfort zone for a second month as a moderation in food price rises was offset by continued supply-chain disruptions, a Reuters poll predicted. The Sept. 6-8 poll of 41 economists put consumer price inflation at 5.60per cent in August from a year earlier, little changed from a three-month low of 5.59per cent in July. If confirmed, inflation would be within the Reserve Bank of India's (RBI) 2-6per cent comfort range for a second month. But it has been above the medium-term target of 4per cent for nearly two years. "August inflation is expected to stabilise around July numbers and drift lower over the remaining months of 2021 on base effects and ebbing food prices," said Radhika Rao, economist at...

Ships from the Royal Australian Navy, Indian Navy, Japan Maritime Self-Defense Force, and the U.S. Navy participate in Malabar 2020 exercise. Credit: AP | Getty Images The 'Quad' is on the rise in Asia-Pacific: Game theory has a prediction about its future The leaders of the world's biggest economies want to know what's next for the Quad. The future of that "Quad" has tremendous significance, not just in the Indo-Pacific, but everywhere. Decision-makers, risk managers, investors, CEOs, and regular citizens increasingly are aware of rising stakes in a new, global balance of power. Other big powers are paying attention. As China has shown new swagger in its dealings with the world, four big democracies — Australia, India, Japan and the United States — have formed a counterbalance. China...

LONDON/DUBLIN: Britain plans to further extend post-Brexit grace periods on some goods imports to Northern Ireland, Brexit minister David Frost said on Monday (Sep 6), in a move designed to give London and Brussels more time for talks about trade with the province. The fate of British-ruled Northern Ireland was the most contentious issue in Britain's negotiations over its exit from the European Union, which was completed on Dec 31, and it has continued to cause friction. To avoid imposing a hard border on the island of Ireland, Britain agreed to leave some EU rules in place in its province of Northern Ireland and accept checks on goods arriving there from elsewhere in the United Kingdom. London has since said the arrangement is not working and wants it changed, while the EU rejects rene...

SINGAPORE: The rapid rise in COVID-19 cases is “of concern” and putting "serious strain" on hospital resources despite the shift to community and home care, said co-chair of the multi-ministry task force Gan Kim Yong on Friday (Sep 24). To ensure that the healthcare system can continue to cope with these cases, Singapore has to take action to slow the rise in cases to protect the hospital system, he added. Dining-in at F&B outlets and social gatherings will be reduced to groups of two from next Monday. Home-based learning for those in primary school and special education schools will be extended to Oct 7. Work from home will also now be the default. Fully vaccinated people aged 50 to 59 who finished their vaccination regimen at least six months ago will be invited to take their booster ...

UNITED NATIONS: UN Secretary-General Antonio Guterres called for an "urgent" international response to the political crisis created in Myanmar by the February 1 military coup, in a new report released by the United Nations on Wednesday (Sep 29) . In the document on "the situation of human rights of Rohingya Muslims and other minorities in Myanmar," the UN chief also said he feared that the military's grip on power would become increasingly difficult to counter. "It is urgent to mount a unified international and regional response to help to put Myanmar back on the path to democratic reform," he said in the document dated Aug 31. No explanation was given by the UN for the long delay in its publication. The text was approved by 119 countries, with 36 including China abstaining and one, Be...

(Corrects Panasonic's battery type to Nickel-Cobalt-Aluminum from Nickel-Manganese-Aluminum) By Heekyong Yang SEOUL :The global auto industry's shift to electric vehicles (EVs) has spurred an expansion race among battery makers, and caused a growing skills shortage. See main story: Global sales of EVs, estimated at 2.5 million vehicles in 2020, is forecast to grow more than 12-fold to 31.1 million by 2030 and account for nearly a third of new vehicle sales, according to consulting firm Deloitte. Here are major players' expansion plans in key EV markets of China, the United States and Europe. CATL As of end-June, the Chinese company has annual battery production capacity of 65.45 Gigawatt hours (GWh), and has an additional 92.5 GWh of capacity under construction. The global industry ...

Whether for bread, rice or tortillas, governments across the world know that rising food costs can come with a political price. The dilemma is whether they can do enough to prevent having to pay it. Global food prices were up 33% in August from a year earlier with vegetable oil, grains and meat on the rise, data from the United Nations Food and Agriculture Organization show. And it’s not likely to get better as extreme weather, soaring freight and fertilizer costs, shipping bottlenecks and labor shortages compound the problem. Dwindling foreign currency reserves are also hampering the ability of some nations to import food. From Europe to Turkey and India, politicians are now handing out more aid, ordering sellers to cut prices and tinkering with trade rules to mitigate the impact on con...

China has denounced a nuclear submarine deal among the U.S., the U.K. and Australia — and tensions in the Indo-Pacific region will likely continue to rise, said an analyst at consultancy firm Eurasia Group. "Given the geography of the region and given the security stakes in the region, one would hope that prudence would prevail," says Ali Wyne, senior analyst at Eurasia Group. "I think that right now, certainly the military balance of power is going to grow more contested," he told CNBC's "Squawk Box Asia" on Monday. The U.S., U.K. and Australia last week announced a new security partnership that seeks to strengthen stability in the Indo-Pacific region. It comes as China continues to expand its military presence and influence in the region. With this deal, I do think that the military bal...

SINGAPORE: MyRepublic Singapore said on Friday (Sep 10) that it has discovered an "unauthorised data access incident" affecting 79,388 customers. The incident took place on Aug 29 and affected MyRepublic mobile subscribers based in Singapore, said the local telcom. "The unauthorised data access took place on a third-party data storage platform used to store the personal data of MyRepublic's mobile customers," it said in a statement. The platform contained identity verification documents related to customer applications, the firm said. This included scanned copies of both sides of the NRIC for affected customers who are Singaporeans, permanent residents or holders of employment passes and dependant's passes. For other affected foreigners, the data included documents showing proof of re...

WASHINGTON: A Delaware judge ruled on Tuesday (Sep 7) that Boeing's board of directors must face a lawsuit from shareholders over two fatal 737 MAX crashes that killed 346 people in less than six months. Vice Chancellor Morgan Zurn ruled Boeing stockholders may pursue some claims against the board, but dismissed others. Zurn's ruling in the Court of Chancery said the first of the two fatal 737 MAX crashes was a "red flag" about a key safety system known as MCAS "that the board should have heeded but instead ignored." Boeing said late Tuesday it was "disappointed in the court's decision to allow the plaintiffs' case to proceed past this preliminary stage of litigation. We will review the opinion closely over the coming days as we consider next steps." The U.S. Federal Aviation Administr...