World

SINGAPORE: From Jul 14, those booking a Grab ride from the central part of Singapore will be able to opt for a ride on a hybrid or electric vehicle, as part of the ride-hailing platform’s drive to become more sustainable. From that date, they will also have the option of paying an additional S$0.10 to contribute to eco-friendly projects to help reduce their carbon footprint. JustGrab Green will employ a fleet of vehicles which meet the Vehicular Emissions Scheme (VES) A2 emissions standard, such as the Hyundai Kona Electric or the Toyota Prius. This will allow carbon emissions to be reduced by an estimated 55 per cent compared to conventional petrol vehicles, Grab said in a media release on Wednesday (Jul 7). Screengrab of JustGrab Green, which aims to allow passengers to reduce ...

KABUL: The Taliban claimed Friday (Jul 9) to be in control of 85 per cent of Afghanistan after seizing key border crossings with Iran and Turkmenistan following a sweeping offensive launched as US troops pulled out of the war-torn nation. Hours after President Joe Biden issued a staunch defence of the US withdrawal, the Taliban said its fighters had seized two vital border crossings in western Afghanistan - completing an arc of territory from the Iranian border to the frontier with China. In Moscow, a visiting delegation of Taliban officials said they controlled about 250 of Afghanistan's 398 districts - a claim impossible to independently verify and disputed by the government. Map of Afghanistan locating the Islam Qala border crossing with Iran, captured by the Taliban, the insurge...

Shares and bonds in China Evergrande, the country's most indebted developer, plunged for a second day on Tuesday, after sales of two real estate projects were suspended by local authorities, escalating worries over its financial health. SHANGHAI: Shares and bonds in China Evergrande, the country's most indebted developer, plunged for a second day on Tuesday, after sales of two real estate projects were suspended by local authorities, escalating worries over its financial health. Evergrande's Hong Kong-listed shares tumbled more than 13per cent to a fresh four-year low, following Monday's 16per cent plunge, while its bonds also dived, in onshore and offshore markets. Local regulators in Shaoyang, a city in south central Hunan province, ordered a sales halt for two Evergrande resident...

HONG KONG: Hong Kong customs officials said Thursday (Jul 15) they had dismantled a money laundering syndicate that used cryptocurrency to process around HK$1.2 billion (US$155 million) in illegal funds, in what they said was the first successful operation of its kind. "It is the first time in Hong Kong that a money-laundering ring involved in using cryptocurrency to wash dirty cash and conceal the source of criminal assets was broken up," Senior Superintendent Mark Woo Wai-kwan told reporters. Investigators said four men - including the alleged local mastermind of the syndicate - had been arrested and bailed while some HK$20 million had been frozen. The men opened various local bank accounts with shell companies and made transactions through a virtual currency exchange trading plat...

SINGAPORE: For a second time in two months, Mr Frank Per has had to prepare his family-style karaoke business in Paya Lebar for an extended closure. Sing My Song Family Karaoke took a one-month hiatus in mid-May when dining-in was banned as part of the “Phase Two (Heightened Alert)” curbs. The local karaoke joint had turned to selling finger food and ice cream since last December. Its core business – singing – remains prohibited under current COVID-19 protocols. When it was announced on Friday (Jul 16) that all nightlife establishments operating as F&B businesses had to be shuttered for two weeks, Mr Per started going through a checklist that he was already very familiar with. “I am now packing the food that will expire within two weeks, so that we can bring them home or give aw...

Oil prices climbed to highs last seen in October 2018 on Monday as the United States and Iran wrangled over the revival of a nuclear deal, delaying a surge in Iranian oil exports, while investors eyed the outcome of the OPEC+ meeting this week. LONDON -Oil prices slipped on Monday after hitting more than 2-1/2 year highs earlier in the session, as a spike in COVID-19 cases in Asia put a brake on their rally before this week's OPEC+ meeting. Brent was down 33 cents, or 0.4per cent, at US$75.85 a barrel at 1326 GMT, after climbing to US$76.60, its highest since October 2018. U.S. crude was 27 cents, or 0.4per cent, lower at US$73.78 a barrel. But analysts said the rally had not yet run out of steam. "With sentiment running high, market watchers say crude prices are likely to keep ris...

Global share prices slid from record highs on Tuesday after U.S. inflation rose by the most in 13 years in June, driving the dollar up, the yield on benchmark U.S. government debt initially down and stocks on Wall Street to trade near break-even. NEW YORK/LONDON -Bond yields jumped and global share prices slipped after posting new highs on Tuesday as the biggest hike in U.S. inflation in 13 years rattled investors who fear rising interest rates could end a stock market rally that has doubled prices from 2020 lows. The yield on U.S. Treasury debt initially fell on news the U.S. consumer price index in June jumped 5.4per cent year over year, the largest gain since August 2008, the Labor Department said. But a weak Treasury auction sparked a 4.7-basis-point jump in the benchmark 10-yea...

Taiwan is the "most dangerous" flashpoint in the relationship between the U.S. and China — but an outright conflict is not likely, said former Singapore senior diplomat Bilahari Kausikan. "During the U.S.-Soviet Cold War, which lasted for 40 years, nuclear deterrence kept the peace at least between the two principals. I think it will again keep the peace between the U.S. and China," Kausikan told CNBC's "Squawk Box Asia" on Wednesday. According to the nuclear deterrence theory, the possibility that a country could use its nuclear weapons to retaliate will deter an enemy state from attacking. Beijing claims Taiwan, a democratic self-ruled island, as a runaway province that must be reunited with the mainland — using force if necessary. The ruling Chinese Communist Party, which turns 100 on T...

TOKYO/SINGAPORE: Oil prices fell on Friday (Jul 16), heading for their biggest weekly drop since at least May as expectations of more supplies spooked investors, with OPEC likely to add output to meet a potential revival in demand as more countries recover from the pandemic. Brent crude for September was down 37 cents at US$73.10 a barrel by 6.50am GMT, heading for a 3.2 per cent fall this week after two days of heavy declines. This will mark Brent's biggest weekly drop since May. U.S. crude for August fell 35 cents to US$71.30 a barrel, on track for a decline of more than 4 per cent this week, its largest weekly drop since March. Discussions on supply policy within the Organization of the Petroleum Exporting Countries, Russia and other producers, a group called OPEC+, ended without...

TUNIS: Ons Jabeur's landmark appearance in the last 16 of Wimbledon was hailed in her native Tunisia on Saturday (Jul 3) for helping lift the gloom of the country's political and health crisis. "Ons Jabeur has joined the greats," read the headline in Arabic-language newspaper Al Chourouk, propelling tennis to the front pages, a rare occurrence in a country where football is king. "It makes us dream! Fortunately, we have it to brighten up our days," said Sarra, a Tunisian Internet user. Another Twitter user Kamel said that Jabeur's achievement in becoming the first Tunisian woman to reach the last 16 at Wimbledon brought "the light that was so lacking in the dark sky of our country". "We have our official supplier of happiness, the only one who helps us to forget our gloomy news in ...