World

Once ideas about how to manage the economy become entrenched, it can take generations to dislodge them. Something big usually has to happen to jolt policy onto a different track. Something like COVID-19. In 2020, when the pandemic hit and economies around the world went into lockdown, policymakers effectively short-circuited the business cycle without thinking twice. In the U.S. in particular, a blitz of public spending pulled the economy out of the deepest slump on record — faster than almost anyone expected — and put it on the verge of a boom. The result could be a tectonic transformation of economic theory and practice. The Great Recession that followed the crash of 2008 had already triggered a rethink. But the overall approach — the framework in place since President Ronald Reagan an...

After a lifetime of ‘blending in’ to survive, employees who hide their autism may not get the help they need to thrive. But some workplaces are changing that. This is the first part of a series on adulting with autism. SINGAPORE: A stranger might describe Khor Kuan Min as introverted. After getting to know the 37-year-old better, they might call him polite and articulate, with the occasional touch of self-deprecating humour. Those who are observant would notice that he has trouble maintaining eye contact. But few, if any, might realise he has autism. In his early 20s, he was diagnosed with Asperger Syndrome, which has been described as a neurodevelopmental condition on the higher-functioning end of the autistic spectrum. This means individuals like him behave in ways the general pop...

Investors should take note of Hong Kong developers, says the Financial Times’ June Yoon. LONDON: Forecasts for the Hong Kong property market this time last year were as gloomy as the view from the Peak overlooking the territory on one of its more polluted days. Political uncertainty, travel bans related to the COVID-19 pandemic and the UK’s decision to open the door to Hong Kongers holding British National Overseas passports were widely expected to knock billions off property valuations. But the territory’s property market, not for the first time, has defied the doom-laden predictions. While rents have dropped, Hong Kong’s April property deals by value more than doubled, according to Land Registry data. In the secondary market, home prices are on track to hit a 23-year high, accor...

BAKU: Sergio Perez said before the Formula One season started that he needed five races to get up to speed with Red Bull and the Mexican duly delivered by winning the sixth in Azerbaijan on Sunday. If victory fell into his lap after team mate Max Verstappen crashed out with a tyre blowout five laps from the end while leading, it was still richly deserved. Perez had qualified only seventh, moving up to sixth after McLaren's Lando Norris was demoted, but he showed his pace throughout. The Mexican made up two places on the opening lap, was third by lap eight and had slotted into second behind Verstappen by lap 12. Perez joined Red Bull at the end of last season, after being replaced by four times world champion Sebastian Vettel - second on Sunday - at what is now Aston Martin. It had...

TOKYO: Japan's economy shrank more than expected in the first quarter as the slow vaccine roll-out and a resurgence in COVID-19 infections hit consumption, reinforcing expectations the country will lag major trading partners in emerging from the pandemic. Extended state of emergency curbs are likely to keep any recovery in the current quarter modest, analysts say, adding to challenges for policymakers seeking to pull Japan out of the doldrums. "With the medical situation still worsening and the vaccine roll-out too slow, it will take until the end of the year for output to return to pre-virus levels," said Marcel Thieliant, senior Japan economist at Capital Economics. The world's third-largest economy shrank an annualised 5.1 per cent in the first quarter, more than a median marke...

The New York Knicks are back in the playoffs for the first time in eight years, with the team already making headlines for the sky-high prices fans are willing to pay to watch their team play postseason basketball. But even the priciest tickets to this weekend's Knicks-Hawks series opener pale in comparison to the pair of third-row seats that Alex Taub agreed to buy from a friend on Christmas Eve 2013. At the time $550 was below face-value, and the tickets were considered a deal. But there was one big catch: Taub had asked if he could pay with bitcoin. When Taub bought his tickets with 0.7688 bitcoin, one token was worth about $730. As of Saturday morning, one bitcoin was worth $38,219, making the value of those tickets just shy of $30,000. Taub, now the CEO of social networking start-u...

SINGAPORE: A day after it was announced that the limit on social gatherings will be cut from eight people to five, indoor playground operator Kiztopia began receiving enquiries from customers who needed to make alternative plans for their children’s birthday celebrations. Around 40 bookings were affected by the stricter COVID-19 rules that will be in place until May 30 to curb the recent rise in community infections. So far, 10 reservations will proceed with a reduced party size. Others are considering shifting their bookings to next month or cancelling altogether, said founder and chief executive officer Heidi Tian. The tightened safety measures come as Kiztopia is gearing up for an expansion. The indoor attraction, which targets young children from two to 12 years old w...