World

Pompeo, Esper driving US’s anti-China message in India visit
11Nov By Desk TeamNo Comments
China, USA, World

Pompeo, Esper driving US’s anti-China message in India visit

NEW DELHI: US Secretary of State Mike Pompeo and Defense Secretary Mark Esper are in India to drive the Trump administration’s anti-China message exactly a week ahead of America’s presidential election. With President Donald Trump in a tight race for a second term against former Vice President Joe Biden, Pompeo and Esper are seeking to play on Indian suspicions about China to shore up a regional front against increasing Chinese assertiveness in the Indo-Pacific region. In talks on Tuesday (Oct 27) with their Indian counterparts, Pompeo and Esper are to sign an agreement expanding military satellite information sharing and highlight strategic cooperation between Washington and New Delhi with an eye toward countering China. Just hours before the meetings began, the Trump administratio...
Read More
Tokyo 2020 organisers consider virus control centre for Olympics
11Nov By Desk TeamNo Comments
World

Tokyo 2020 organisers consider virus control centre for Olympics

TOKYO: Tokyo 2020 organisers and Japanese officials said on Tuesday (Oct 27) that they may set up an infectious disease control centre at next year's pandemic-postponed Olympic Games, as they debate how to hold the event safely. The tentatively named Organising Committee Infectious Disease Control Centre would coordinate the mammoth task of testing and tracing infections and organising isolation and treatment of anyone with the virus. "During the Games, it would have the function of coordinating and driving anti-infection measures in cooperation with local health and hygiene centres and a general infirmary at the athletes' village," Tokyo 2020 chief executive Toshiro Muto told reporters. He spoke after a meeting of a task force grouping Tokyo 2020 organisers, city officials and gove...
Read More
Businesses should get ready for more volatility in the Chinese yuan, regulator says
11Nov By Desk TeamNo Comments
China, Market, World

Businesses should get ready for more volatility in the Chinese yuan, regulator says

Jason Lee | Reuters BEIJING — China's foreign exchange regulator told businesses Friday to prepare for more volatility in the yuan. The Chinese currency, also known as the renminbi, strengthened roughly 1% this week against the U.S. dollar to levels not seen since July 2018. Less than five months ago, the yuan was at its weakest against the greenback since early 2008. Although that is based on a midpoint set by the central bank, the People's Bank of China, Beijing has been allowing markets to play a greater role in the exchange rate. One-year implied volatility of the yuan has climbed to 5%, versus less than 2% for previous years, indicating a basis of "increased flexibility" in the exchange rate, State Administration of Foreign Exchange spokeswoman Wang Chunying told reporters on Friday....
Read More
South Korea Oct factory activity grows at fastest pace in more than 2 yrs
11Nov By Desk TeamNo Comments
China, Market, USA, World

South Korea Oct factory activity grows at fastest pace in more than 2 yrs

SEOUL: South Korea's factory activity expanded at the fastest pace in more than two years in October, a private-sector survey showed on Monday (Nov 2), as global demand picked up from its coronavirus slump. The IHS Markit purchasing managers' index (PMI) jumped to 51.2, from 49.8 in September, the first expansion in 10 months and the highest reading since September 2018. The 50-mark threshold separates growth from contraction. That reflected the rise in major sub-indexes, with factory production and new orders logging their sharpest growth since April 2013. New export orders returned to growth for the first time in nine months, albeit at a subdued level. "October data marks a clear improvement in South Korea's manufacturing sector ... outright expansions in both output and new orde...
Read More
Commentary: The world has big expectations for a Joe Biden presidency
11Nov By Desk TeamNo Comments
China, Market, USA, World

Commentary: The world has big expectations for a Joe Biden presidency

Countries around the world hope to see huge efforts devoted to restoring US leadership and repairing alliances, say the Financial Times’ Katrina Manson, Aime Williams and Michael Peel. LONDON: Joe Biden has promised to put an end to Donald Trump’s isolationist, disruptive approach to global relations. But a Biden administration bid to restore American leadership will require time and political capital at a time when the superpower’s global role stands in doubt at home and abroad. While diplomats are not likely to hear the phrase “America First” for a while, Mr Biden will face challenges including countering China, re-entering the nuclear deal with Iran, resetting relations with Europe and dealing with the fallout of Brexit on the relationship with the UK. CHINA: LITTLE LET-UP IN PR...
Read More
S&P 500, Dow sink 3per cent to late-September lows on virus, election worry
8Nov By Desk TeamNo Comments
World

S&P 500, Dow sink 3per cent to late-September lows on virus, election worry

The S&P 500 and the Dow slumped on Wednesday to their lowest levels since late September, as coronavirus cases climbed globally and investors also worried about the possiblity of a contested U.S. presidential election next week. NEW YORK: The S&P 500 and the Dow slumped on Wednesday to their lowest levels since late September, as coronavirus cases climbed globally and investors also worried about the possiblity of a contested U.S. presidential election next week. A spiraling pandemic and the failure to approve new fiscal stimulus before the Nov. 3 election put the blue-chip Dow on track to close at its lowest since early August. All three major indexes fell about 3per cent. Twelve U.S. states set records for hospitalized COVID-19 patients on Tuesday, while Germany announced plans to...
Read More
Malaysia reports daily high of 869 new COVID-19 cases, 4 more deaths
8Nov By Desk TeamNo Comments
Asia, World

Malaysia reports daily high of 869 new COVID-19 cases, 4 more deaths

KUALA LUMPUR: Malaysia reported 869 new coronavirus cases on Saturday (Oct 17), its highest daily count so far, health authorities said. All of the new COVID-19 cases are local transmissions, involving 745 citizens and 124 non-Malaysians, Health Director-General Noor Hisham Abdullah said. Many of the cases continue to be in the state of Sabah, with 451 infections over the past 24 hours. Four more deaths were confirmed, bringing the total number of fatalities to 180. Saturday's case count is a sharp rise from the day before when 629 new infections were reported. After a recent surge in cases, Malaysia imposed targeted lockdowns this month, with Kuala Lumpur, Selangor and Putrajaya under a Conditional Movement Control Order until Oct 27. The country's tally of cases stand...
Read More
Potential stock winners and losers from Tuesday’s US election
8Nov By Desk TeamNo Comments
China, World

Potential stock winners and losers from Tuesday’s US election

Tuesday's presidential election between President Donald Trump and former Vice President Joe Biden could have dramatic effects on various stocks and sectors, and investors have spent months trying to identify potential winners and losers. NEW YORK: Tuesday's presidential election between President Donald Trump and former Vice President Joe Biden could have dramatic effects on various stocks and sectors, and investors have spent months trying to identify potential winners and losers. A group of stocks seen benefiting from Biden's Democratic policies has outperformed those seen benefiting from Republican Trump. Over a two-month period that ended Wednesday, a "Biden basket" of stocks created by JPMorgan head of U.S. equity strategy Dubravko Lakos gained 4.5per cent versus a 16per cent drop ...
Read More
Japan eases COVID-19 travel curbs for China, eight others
8Nov By Desk TeamNo Comments
Asia, China, Singapore, World

Japan eases COVID-19 travel curbs for China, eight others

TOKYO: Japan has eased travel curbs for China, Australia, South Korea and six other countries and regions, Foreign Minister Toshimitsu Motegi said on Friday (Oct 30), as Tokyo steps up efforts to revive its economy while preventing the spread of COVID-19. Japan lowered its infection risk advisory level for Thailand, Singapore, Taiwan, New Zealand, Brunei and Vietnam, besides China, South Korea and Australia, to 2 from 3, telling its citizens to avoid non-urgent, non-essential trips. Under the infection risk advisory level of 3, the public are instructed not to take any trips. Singapore and Japan launched a reciprocal green lane to facilitate short-term essential business and official travel between the two countries on Sep 18. The business track will allow the safe resumption of cr...
Read More